So much is riding on the economy – not just all those jobs and mortgages but political careers too!
Now that Labour seems set to row back from even the deficit reduction plans framed by Alistair Darling – who seems rightly irritated by the incipient U-turn being openly canvassed by Ed Balls – everything [...]
If the banking world wanted to show the rest of us that things are back to “business as usual” they could not have found a more potent symbol than to have promoted the head of Barclays Capital, the so-called “casino” end of Barclays, to run the group as a whole.
Mr Diamond’s (right) operation was [...]
Advertising, and the media generally, is the most pro-cyclical sector of the economy: that is the one where movements in the economy as a whole become the most amplified. Thus their recession was deeper than almost anyone else’s (the builders also being very hard hit) and now their recovery is more dramatic than most.
So Sir [...]
The coalition’s greatest achievement in its first 100 days may be invisible and unthanked. Although we will never know for sure, it is perfectly possible that they rescued the nation form a Greek style sovereign debt crisis.
It’s a bit of a pity the general public don’t take more notice of the surveys the Chartered Institute of Purchasing and Supply conduct of managers at the “sharp end” of business (more on the PMI decline here). For, unlike most economic predictions, they have an almost uncanny ability to predict what will be happening [...]
Is a bank making big money a good thing or a bad thing? It is a good thing if it means they’re repairing their balance sheets and financial health, but can be bad for the wider economy if they are doing so at the expense of lending to hard-pressed customers.
That, broadly, is what has been [...]
No great surprises from the Governor of the Bank of England, Mervyn King, at the Treasury Select Committee today, which is a bit sharper than it used to be, thanks to chair Andrew Tyrie and sparky contributions from the likes of Jesse Norman, Chuka Umunna and Andrea Leadsom, all new to the Commons, as well [...]
So now we know. Barclays is Britain’s strongest bank, and by quite some way. Even under a stressed scenario considered by Europe’s banking watchdogs it would have a tier one capital ratio of 13.7 per cent. You wouldn’t want to describe any bank as rock solid given the carnage of the past few years, but [...]
Markets don’t like surprises, and we know so much about the stress tests – through leaks – that the markets ought not be surprised about who passes, who fails and who scrapes by.
The fact is that most of Europe’s big banking groups are surprisingly well capitalised, both because they have managed to raise funds themselves, [...]
Let’s not get too excited about those admittedly very encouraging GDP growth figures. First, there was always going to be an element of bounceback. Bounceback from the bad weather in the first part of the year, and, more significantly a bounceback in firms building up their much-depleted stocks, what economist call the “inventory cycle”, which [...]
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