Trade conflicts caused by governments promoting the interest of the elite at the expense of workers. Across the world, the rich have prospered while workers can no longer afford to buy what they produce have lost their jobs, or have been forced into higher levels of debt. The class wars of rising inequality are a…
Chancellor Rishi Sunak announced the UK furlough scheme to pay wages of workers on leave because of coronavirus has been extended to October. He further said the government-backed workers and companies going into the lockdown, and would support them coming out and confirmed that employees will continue to receive 80 per cent of their monthly…
Protective screens and reduced hot-desking alternatives to social distancing where it is not possible are among measures being considered to let workplaces reopen. Reopening the economy will take more than modified working practices. Workers must be confident they are safe. Companies must be confident they won’t be sued if they get it wrong. And consumers…
FTSE100 giants Whitbread and Associated British Foods today lined up loans from the government as they handle mass store, hotel and restaurant closures. ABF which owns Primark which shut 186 stores, and Premier Inn owner, Whitbread who had been forced to shut 800 hotels, both said the Bank of England have confirmed they are…
Chancellor Rishi Sunak in his bold budget speech suspended business rates for shops and cafes, Beer, wine and cider duties were frozen as pubs get help, UK interest rates cut in an emergency move, and promises his measures to help the economy tackle the coronavirus outbreak which is expected to bring a “significant” short-term…
The IMF has earmarked $50bn in emergency financing for countries stricken by a coronavirus, as the fund said the outbreak had forced a cut to its forecast for global economic growth. According to Kristalina Georgieva, IMF managing director, adverse scenarios about the spread of the virus and how it would affect the global economy were…
Rajeev Misra, , a London-based banker and the head of Soft Bank’s $100bn Vision Fund has lined up millions of dollars outside investment for a new hedge fund style vehicle, to pursue complex bets on publicly traded companies., with able support from Abu Dhabi’s state fund Mubadala, which in turn has helped to instil interest…
In the great financial crisis of 2007-2008, finance came too close to wrecking the global economy. The presence of rogue behaviour in finance, Nesvetallova and Palan turns to the economist Thorstein Veblen (1857-1929) who observed that businessmen were proficient at making profit by interfering in markets, and wrote “ something in the nature of…
Jim Simons who is worth $23bn is the greatest money maker in modern financial history, no other investor neither Warren Buffett, Rau Dalio, Steve Cohen, Peter Lynch, or George Soros can touch his record. Since 1988, Renaissance’s signature Medallion fund has generated average annual returns of 66 per cent and earned profits of over $100…
Three Hundred thousand customers of Hargreaves Lansdown were caught in the collapse of Woodford Investment management. The Uk’s biggest online funds supermarket had championed Neil Woodford, who on Tuesday announced that he was closing his company after being fired from his own flagship fund. Hargreaves promoted Woodford fund on its best- buy list and attracted…