Bank of England Set to Rain on Hopes of Interest Rate Cut after Economic Bounce

THE GUARDIAN: This week’s Bank meeting is unlikely to bring borrowers any joy amid a strong recovery from 2023’s mild recession

Savers are always on the lookout for the best interest rates and the UK seems like a good bet at the moment. In recent months, the pound has climbed in value against the euro and the dollar as economists speculate that UK interest rates will remain at 5.25% for longer than previously expected.

While the odds of a cut in borrowing have shortened, with a narrow majority of City analysts expecting a reduction, few outside the Square Mile believe a change is imminent. » | Phillip Inman | Sunday, July 28, 2024

Stock Markets Tumble amid Jitters over Tech Companies’ Growth

THE GUARDIAN: Losses in Europe and Asia are driven by AI-related groups including Nvidia, Tesla and Google-owner Alphabet

Stock markets in Europe and Asia took a tumble on Thursday, as jitters over the future growth of major tech companies sparked a global sell-off.

The pan-European Stoxx 600 dropped 1.3% to its lowest level since May this year, having been hit by a 2.75% decline in the Dutch chipmaker ASML, a 5.5% drop in Germany’s Infineon Technologies, and a 12.8% fall in Switzerland’s semiconductor company STMicroelectronics.

The rout began in the US overnight, where the tech-focused Nasdaq fell 3.6% on Wednesday, marking its biggest single-day decline since 2022. About $1tn (£776bn) was knocked off the value of the Nasdaq 100, which covers the most valuable firms on the index. » | Kalyeena Makortoff | Thursday, July 25, 2024

Why Britain Joined the EU

Jun 5, 2024 | On D-Day we remember how brave men and women from many allied countries fought the final battles against the Nazis to bring the most brutal world war to an end in Europe. Peace came at last as a direct result of their enduring efforts.

Tens of thousands of lives were tragically and horribly lost in the pursuit of that aim. But how was lasting peace achieved between European countries that, for centuries, had been more used to resolving their differences through violence, war, and subjugation?

The European Community, established during the post-war years and now called the European Union, played a key role. Yes, NATO helped to protect us from external threats. But it was the European Union that brought sustained security and peace between its members.

By collaborating and cooperating, in peace and democratically, to decide on the running and future direction of our continent, European countries found and agreed solutions to common problems.

It worked. Never has a shot been fired between EU member states. An amazing achievement, for which the EU won the Nobel Peace Prize in 2012. So, when people ask, ‘Why was the EU started?’ the answer, first and foremost, was peace. Yes, trade was one of the means, but peace was the primary goal. And it’s why Britain joined the European Community. To work together, peacefully and democratically, with our European allies to recreate our post-war continent based on democracy, human rights, free market trade and the rule of law.

Did people truly understand this when ticking the ‘Leave’ box in the 2016 referendum?

Robert Reich: The Real Welfare in America I 10 Economic Myths Debunked

Jul 12, 2024 | The Wells Fargo exec overseeing their customer account scam got a $125 million exit package. Meanwhile, most Americans who lose their jobs get only limited unemployment benefits. When I say we have socialism for the rich, harsh capitalism for the rest, this is what I mean.

Argentine Provincial Governors Back Milei's Austerity Programme

Jul 10, 2024 | Argentina's president Javier Milei and the governors of 18 provinces have signed a pact in a push to broaden support for his economic reform programme. The signing took place on Independence Day as the country deals with its worst economic crisis in decades.

Did Thatcher Ruin or Save the UK Economy?

Jan 29, 2024 | The economic impact of Margaret Thatcher's economic policies was immense. This is a look at the impact on inflation, unemployment, growth, inequality and the long-term structure of the economy.

Skint: The Truth About Britain's Broken Economy | Channel 4 Documentaries

Jul 2, 2024 | Britain feels under-funded and falling apart. On the eve of the election, as politicians argue about the causes, economist Tim Harford looks at what the numbers reveal about the broken state we're in.

Central Bank Independence Is a Myth. They Need to Be Democratized.

Oct 30, 2019 | Gerald Epstein discusses his new book, a collection of essays on how central banking is shaped, how it shapes the economy, and how it can be made more responsive to people's needs.

Niall Ferguson: Are We the Soviets Now?

Jul 2, 2024 | With public calls to remove the sitting US President, a UK election set to unseat its government and the rightward swing in Europe, it’s all change on the Western front. Best-selling historian Sir Niall Ferguson joins UnHerd’s Freddie Sayers for a wide-lens tour of populism and its discontents.

How Does Greece's Government Justify a 6-day Working Week? | DW News

Jul 3, 2024 | Greece has become the first country in the European Union to introduce a six-day working week for some businesses. The measure applies to firms that provide 24/7 services, or those experiencing an extraordinary workload. Greece's pro-business government calls the regulation "worker-friendly." But it's sparked outrage among trade unions. And many people on the street don't like it either.