Why America gave up on Free Markets

Economist Philippon uses detailed evidence to argue that  far from being the home of the free market competition, the US today has less competition than the much maligned EU, particularly in its products markets which are riddled with monopoly and monopsony. Declining competition has raised profits, depressed wages, weakened investment and undermined productivity growth. The…

Porsche increase stake to 15.5 per cent in Rimac

Porsche which took 10 per cent stake in Rimac Automobil, the Coratian electric car group has raised its holdings to 15.5 per cent stake to push into battery technology.  Rimac builds its own cars but also supplies battery and hybrid technology to high-performance car makers across the industry. The German brand plans to spend €6bn…

Shanghai Starboard to rival Nasdaq on Wall Street

China’s launch of  a new technology focused stock exchange  to rival Nasdaq on Wall Street has underlined the significance of state funding to the country’s fastest growing tech sector. Of the first 25 companies listed on Shanghai’s Starboard, 14 report state-owned investors  among their top three shareholders . The first 25 listing, which raised $5.3bn,…

Toyota to invest £240m in its UK factory

The Japanese carmaker Toyota is to invest £240m in its UK factory at Burnaston plant near Derby, which made 180, 000 vehicles last year, including the Auris and Avensis models. The factory employs about 2, 500 people, and another 590 at Toyota’s engine plant at Deeside, North Wales. Johan Van Zyl, chief executive of Toyota…

Cotton spinning revival boost in Manchester after 30 years

A new company has emerged in Manchester, marks the revival of the cotton-spinning line known as “cottonopolis”, after the trade died out in 1985. Worldwide demand for high quality thread from the new emerging fashion industry has encouraged German backed Culimenta Saveguard to make a£5.8m investment and £2m loan from the Greater Manchester Combined Authority,…