Dr. Ram Kalus Shares His Opinion on Angelina Jolie’s Recent Announcement Regarding Her Double Mastectomy and Breast Reconstruction
Individual investors took advantage of Apple’s recent stock slide to snap up shares of the tech giant last month, according to brokerage firm TD Ameritrade.
Go here to see the original: Individual investors rush into Apple
Christine Lagarde’s inspectors should see that Britain is crying out for investment, not more austerity
Dear IMF officials,
Don’t be blinded by a single ray of sunshine. Britain may have avoided a triple-dip recession, but all the other economic news is weak at best.
At the heart of the problem are the country’s ultra-conservative banks and building societies. Either they are short of funds or reluctant to lend to all but the most financially secure borrower. As Vince Cable put it yesterday, they are working on a “pawnbroker business model” demanding “heaps of collateral” that he likened to a gold watch.
The result is that few small and medium-sized businesses can access the cheap credit on offer from the Bank of England.
Homebuyers are in a similar fix. Some estate agents report that cash buyers make up almost 50% of the house purchases in recent months. Housebuilding remains at levels not seen since the 1920s.
As you pointed out on your visit last year, the Treasury has room for manoeuvre should it want to promote growth. The trouble is that all the fiscal loosening this year will just go to overstressed hospitals, a bigger pension bill and a school system coping with a baby boom. There was little extra in the last budget for investment.
Among the voices over here calling for a more cautious approach to austerity are the former City regulator Lord Turner, who warned yesterday that the slowdown caused by aggressive cuts could trigger a cycle of debt.
“I think the difficulty is that when the public debt levels go up in the crisis you feel you’ve got to get that under control
Clothes workers in Bangladesh say the recent building collapse in Dhaka has made them concerned for their own safety
The US central bank slightly upgrades its view of the US economy, saying it expanded at a “moderate pace” in recent months.
Read the rest here: Fed says US economy slightly better
Local economies will be crucial for the UK’s recovery, but recent rises in business productivity in North seem to suggest, paradoxically, that bosses are not expecting an imminent resurgence
The North’s economy is twice the size of Scotland, and larger than that of Sweden, Denmark and Belgium. But how productive are Northern workers? How efficient are we at actually doing things compared to the rest of the UK? Until recently the answer to this question was simple: not very, and getting worse, while the country as a whole is faltering relative to its competitors.
However, recent figures on ‘productivity per hour’ and per filled job in different areas of the UK show that (while the gap is still wide) between 2009 and 2011 all three Northern regions gained ground on the national productivity rate, while London slipped.
Earlier this week, yet more statistics revealed that areas whose economies aren’t conventionally thought of as being highly productive – Blackburn and Darwen, Durham, Blackpool, Bradford, Sunderland and Tyneside – were also gaining ground.
With the North having restructured its economy away from heavy industry in favour of modern sectors such as biotechnology, advanced manufacturing, business and financial services, are these figures a result of these changing structures, and a glimpse of changing fortunes?
This is, lamentably, unlikely. Despite the efforts and innovations of companies in the North, these figures are more likely to be showing the very opposite of the business confidence needed for the North to drive its way out of recession.
Recessions can have a different impact on different firms’ decisions, depending on how they feel about future prospects: if they are confident of resurgence they are likely to hold on to staff and tolerate low productivity; if they are less confident they may lay off staff and so will, in the short term, become relatively more productive.
Does this mean therefore that London firms are more confident of their prospects than Northern firms? Paradoxically, is improving productivity a bad sign? London’s over-reliance on the finance sector is likely to play a large part also – a sector which has seen a recent dip in productivity – but these figures do raise questions.
However, the questions raised are not simply about the “UK economy”, but about the economy in Sefton, in Sunderland, in Northumberland, in Bristol, Dudley and Dunbartonshire.
In short, the questions that need asking relate to the real economies, as people go about their work and spend their money. These are questions that are rooted in people’s lives as they are lived, not as they are theorised down in Whitehall and on Threadneedle Street.
It is increasingly being recognised – not least thanks to the work of Tory grandee Lord Heseltine, which the government (partially) acknowledged – that it is these local economies that are the cornerstones and building blocks of our economy. As the country tries to dig its way out of recession, driving local growth is not only the most efficient way to drive national growth, but is the best way of engendering prosperity for the people who labour to make that growth happen.
• Luke Raikes is a Labour councillor for Baguley in Greater Macnhester and a researcher at IPPR North. He tweets @lukeraikes
TORONTO, ONTARIO–(Marketwired – April 16, 2013) - According to a recent poll commissioned by the Canadian Federation of Students-Ontario and conducted by Harris-Decima, 69 per cent of Ontarians believe the Liberal government broke the spirit of their election promise to give students and their families 30 per cent off the cost of tuition fees.
View original post here: Seven in Ten Ontarians Believe Liberals Broke Tuition Fee Promise
Bank of Japan Governor Haruhiko Kuroda has gone on a diplomatic offensive in recent days to reassure trading partners that Japan is not engaged in currency warfare.
Here is the original post: Is the Bank of Japan done?