Next Wednesday should be a riot in the City. In fact, if it's not, it will prove that we Brits have turned into docile dolts who will swallow anything the Government cares to feed us. While the G20 circus will officially paralyse Docklands, the protesters will be doing their best to do the same in the Square Mile, and it's hard to disagree with many of their sentiments.
Read full article...It's unlikely that Lord (Red Adair) Turner will survive for long as chairman of the Financial Services Authority if his patron is booted out of No10 next year, so we may not have to swallow all the medicine he is prescribing to cure our money malaise.
Once upon a time, long ago, the ministers who controlled the Post Office decided that it should offer the people this new-fangled telephone thingy. Ask nicely, wait for just a few months, and this revolutionary instrument could be yours. It might even work.
HSBC was the bank that rose above the domestic disasters that swamped its British rivals
In a corner of Brent, there are tangible signs of an alternative to the state system or mortgaging the future to pay for an independent school
Something has gone terribly wrong at Rio Tinto. The chart of the share price looks like a spoil mountain outside one of its mines, and it has achieved the impressive feat of alienating its biggest shareholders by not asking them for money. It's now on the brink of a blunder that threatens its whole future.
Revenge, as everyone knows, is a dish best served cold, and Paul Moore must be feeling satisfied today. It's nearly four years since he was sacked by Sir James Crosby and for much of that time his claims, that he had been pushed out because of his warnings about the risks that HBOS was running, were ignored. Even last year, as the banks were sliding into the mire, his protests on the BBC did not gain much traction.
Sir John Craven is the man who capped a long, distinguished City career by taking on the poisoned chalice marked Lonrho, drinking the contents — and surviving
A couple of years back, at the height of the great boom, the world's carmakers were producing five cars for every four buyers. Flying in the face of this simple arithmetic, which revealed so much overcapacity that demand would never catch up, Tata of India bought Land Rover and Jaguar.
If there is one thing that will turn today's recession into a full-blown depression, it's more rises in unemployment like last month's. As long as there is work, we can live with negative equity, more pasta and less meat, a colder home and an older car. Joblessness, though, threatens catastrophe, breaking marriages and causing lasting damage to the social fabric.
When the biggest bank in the world admits that its business model is unsustainable, you know things are getting serious
Yup, that ban on short-selling of the banks really worked
WHAT Gordon Brown giveth, he taketh away. His first move on entering 11 Downing Street in May 1997 was to give the Bank of England the task of setting interest rates. The Monetary Policy Committee has been one of the few unalloyed successes of his 12 years in charge of the economy, but this week he sent a clear signal that its independence is numbered.
We're not going to escape a Dangerous Banks Act - the best we can hope for is that it doesn't make things worse
Gordon Pepper knows as much about money and monetarism as anyone alive, and he’s mad as hell. The Government’s policy, he says, is “confused and senseless”
Some of the MPC's cut will be passed on in cheaper home loans, but more of it will be sliced off the rates for savers
Eight days on from the PBR, interest rates are likely to fall again and the pound is under pressure
Comment: Of all the ways to cut taxes by £12 billion, the nibble off the VAT bill is the least effective way to dig us out of our financial hole
A sticky weekend looms for the directors of Barclays
It was only three months ago, but it seems like a lost world. In August, the Bank of England Governor was admitting to feeling a slight autumnal chill as he introduced the quarterly Inflation Report, but there was no doubt what topped the monetary policy committee's agenda, as Mervyn King shocked us by admitting that inflation was set to hit 5% and stay there for several months
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