Welcome to the New Normal: Pay can go down as well as up September 17, 2012 WE in the West are not used to getting poorer. Ever since the industrial revolution put to an end to millennia of stagnation, and barring catastrophes such as world wars, or short recessions, a belief in perpetual progress and ever rising incomes has become a defining characteristic of the psyche of all developed nations. Yet [...]
Pressure grows on Lonmin after Marikana massacre August 19, 2012 LONMIN, the world’s third largest platinum miner, will today issue an ultimatum to 3,000 striking employees to restart production or face the sack as pressure mounts on the company’s finances following last week’s deadly clashes. Wildcat strikes at its Karee mine – situated on the Western flank of its Marikana mining district – have caused [...]
As SSE raises its energy prices by 9 per cent, is the firm right to blame UK green policies? August 23, 2012 YES Matthew Sinclair So long as the government sticks to radical EU targets for the energy sector – particularly for a drastic increase in the use of renewable energy – domestic and industrial consumers will continue to face punishing increases in prices. Attempts to reassure investors with expensive commitments like the carbon price floor will [...]
Rail fare revolt gains momentum August 19, 2012 CONSERVATIVE MPs yesterday hit out at proposed increases in rail fares and called on the government to do more to help cash-strapped commuters. Backbenchers in marginal constituencies are preparing to lobby the government to act on travel costs after a furious public reaction to last week’s announcement that average fares will increase by 6.2 per [...]
Rodgers reliant on Suarez to make a point at the Bridge November 8, 2012 CHELSEA vs LIVERPOOL Sunday 4.00pm A QUARTER of the way through the season and it’s clear to see that reviving Liverpool is not going to be an easy task for Brendan Rodgers. The Reds’ opening five games yielded just two points and there is still a long way to go, although their fortunes have improved [...]
Commuters face fare hike as taxpayer subsidy is cut August 14, 2012 COMMUTERS are set to come in for a hammering from January next year, when rail companies are next allowed to raise fares. Individual fares will be lifted by up to 11.2 per cent, as part of the Department for Transport’s (DfT) plan to shift costs from the Exchequer to the passenger. The cap on regulated [...]
FTSE retreats from 3-month high as ECB’s failure to act disappoints August 2, 2012 BRITAIN’S leading FTSE share index fell yesterday, retreating from a three-month high after the European Central Bank (ECB) failed to deliver widely expected stimulus measures to help tackle the Eurozone debt crisis. ECB president Mario Draghi said the bank would draw up a mechanism in coming weeks to make outright debt purchases to stabilise peripheral [...]
Jump in adults priced out of flying the nest May 29, 2012 SOARING rents and large deposits are making it increasingly difficult for young people to buy a home, industry data showed yesterday. Figures from the Office for National Statistics (ONS) recorded a 20 per cent jump in the number of young adults living with their parents since 1997, while figures from Rightmove showed that 30 per [...]
Coalition policy is damaging longer term productivity June 28, 2012 BRITAIN’S businesses and working families are paying a heavy price for the government’s mistakes. Abandoning the last Labour government’s balanced plan for deficit reduction, and raising taxes and cutting spending too far and too fast, has choked off recovery and pushed the UK into recession. As the only G20 country other than Italy already in [...]
Miners lead the FTSE 100 upwards in the hope of economic stimulus July 3, 2012 BRITAIN’S top share index hit two-month highs yesterday, extending gains into a third session as investors readied for more economic stimulus after surprise action last week at an EU summit to tackle the festering Eurozone debt crisis. But traders said the rally could be short-lived and the market may face downward pressure starting next week [...]