It has now been more than five years since the financial and banking crisis first broke, and many developed economies are still struggling with high unemployment, weak or negative growth, and precious little hope that things will get better. After experimenting with a range of ‘non-standard’ measures, the world’s two largest central banks have now signalled that they are prepared to go even further. In the UK, the Old Lady of Threadneedle St is definitely lagging behind.
Today’s UK data showed further positive signs from the UK labour market. Unemployment fell by 7,000 in the three months to July, but still left the total number at 2.59mn. That was enough to nudge the unemployment rate down to 8.1%, from 8.2% in the previous three-month period. It was not all good news though – the number of people taking temporary or part-time work, because no full positions were available, increased by 73,000, taking it further above 2mn.
There was only one game in town today. After managing to calm markets with his promise to do ‘whatever it takes’ in July, this afternoon ECB President Draghi set out the latest plan to rescue the euro.
Unlike previous years, I managed to escape for a proper holiday this summer. Taking almost three weeks to explore exotic climes and wildlife was a great tonic for the manic events that unfolded in the first part of the year.
For more than a year now, the drums of war emanating from Israel have become louder and louder with weekly news leaks and threats, including the disclosure of alleged attack plans. The whole exercise seems designed to create a sense of alarm and inevitability.
Viewing figures have revealed people are waking up to the fact that programs such as the X Factor are a pile of rubbish.
Is it just me, or is there something skewed with this whole Standard Chartered business? I mean, is this really the right way to go about financial services regulation?
The 2012 Olympic closing ceremony in London was a sad yet accurate reflection of UK’s vacuous modern culture that showed the world exactly how naff we are.
Over the past week, Olympic fever has gripped the nation. After a relatively slow start, the medals have started tumbling in and Team GB is on course to achieve its best-ever tally of the modern era.
By Peter Cranie
A few years ago, a typical Green politician would probably have been saying this: “We need the Green Party primarily for economic reasons”. That’s because the biggest threat to the world’s economy
As I braved the Olympic hordes to crawl into work this morning – in fact, the Jubilee line was quieter than usual – I picked up a copy of a well-known free London paper on the way in.
The United States of America is not a country that should be particularly proud of itself in considering Mitt Romney as the next President.Â