Pre-election German unemployment sees surprise jump August 29, 2013 German unemployment has risen by 7,000 in August, despite economist estimates of a 5,000 drop. That sees the unemployment rate unchanged at 6.8 per cent. Last month German unemployment saw its second consecutive reduction as it fell by 7,000. This is the last Germans jobs number we'll see before the coming election. Christian Schulz, senior [...]
The Tories are failing to find a market response to Ed Miliband’s anti-capitalism September 30, 2013 THE ROLE of the state has long been the major fault line in UK political discourse. This is not surprising, given that the interaction between state and citizen has changed so profoundly over the past 100 years. And with Ed Miliband’s challenge to the market economy last week, and yesterday’s attempted defence by George Osborne, [...]
Greek finance minister: It is “premature” to speculate about a third bailout August 29, 2013 Greek finance minister Yannis Stournaras has said it is “premature” to speculate about the necessity or details of a third bailout for Greece, echoing comments made earlier by EU commissioner Olli Rehn. Speaking to the Guardian, Stournaras said: It's very early now to talk about an economic support package. For the next full year we [...]
Airports lifted by post-Games holidaymakers September 11, 2013 PASSENGERS flocked to Heathrow and Gatwick in August, after a lull last summer when Britons stayed at home to watch the Olympics. Heathrow, Europe’s busiest airport, said traffic was up 7.7 per cent to almost 7m customers last month – or a rise of one per cent when the effect of London 2012 was [...]
What the other papers say this morning – 20 September 2013 September 19, 2013 FINANCIAL TIMES Buyout to keep Caesars afloat The Las Vegas-based casino operator said this week it was seeking to raise almost $5bn in bonds and loans to refinance its commercial mortgage-backed securities and a chunk of junior debt. Apollo Global Management and TPG bought Caesars, at the time known as Harrah’s, in early 2008, paying [...]
Inside Track: More than one elephant in the Royal Mail sorting room September 25, 2013 IT’S NOT hard to identify the biggest of the elephantine threats to Royal Mail’s imminent stock market listing, which heralds the most contentious privatisation since the 1980s. With unions poised to ballot members over the prospect of industrial action within weeks, the prospect of a multi-day walkout at the precise time that the company’s shares [...]
New fears house bubble may undermine recovery September 9, 2013 PLANS to pump up the housing market could undo the UK’s progress towards sustained economic growth, economists warned yesterday after the chancellor welcomed the recovery. George Osborne yesterday said the return to growth vindicated his decisions to stick with the deficit reduction plans, and insisted he is working to improve living standards. Analysts praised the [...]
Cameron must now translate his vision into concrete action October 2, 2013 THERE is, of course, a place for soundbites. David Cameron’s speech yesterday had those in spades; some were even pretty good. The Prime Minister spoke up for the profit motive, for enterprise, hard work, improved standards in education and called for a land of opportunity. He defended business from the vicious attacks of Ed Miliband, [...]
One chart that shows the failure of Osborne’s Funding for Lending Scheme July 18, 2013 Designed to get banks to lend more, chancellor George Osborne's Funding for Lending Scheme has failed to actually boost lending. Engineered to boost business lending, it's actually had more of an impact in the mortgage lending sector. This chart from the Bank of England demonstrates quite how poor the measure has been, and in July [...]
Global warming alarmism is no longer scientifically or politically sustainable September 30, 2013 THE global warming doomsday cult is coming to an end. Belief that the world is doomed, unless we replace coal and gas by renewables costing two or three times as much, is already driving up home energy bills and making manufacturing uncompetitive. But last week both Ed Miliband and a report from the Intergovernmental Panel [...]