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What have economists been getting wrong?

May 24, 2019

Economics got some really basic things wrong, and some economists are now trying to put them right, says Evan Davis, Presenter of Radio 4’s PM programme and former Economics Editor of BBC News. Two caveats before I get stuck in. First, I should say that I love economics. It is a kit of wonderful tools […]

Huawei: China warns of investment blow to UK over 5G ban

A top Chinese diplomat has warned that there could be “substantial” repercussions for her country’s investment in the UK, if Huawei were to be banned from Britain’s 5G network. Chen Wen also told the BBC that Beijing had already “witnessed some conscious moves” in that direction. Last week, the US put Huawei on a list […]

UK flights: Number of planes using British skies to reach all-time high

The number of flights using British skies on one day is set to reach an all-time high of 9,000 on Friday. More than than six per minute are expected, exceeding the previous record of 8,854 set on 25 May 2018. A bank holiday, school half-term, the Monaco Grand Prix, and Cannes Film Festival have added […]

EU ‘failed’ over UK’s Brexit vote, says Juncker

EU Commission President Jean-Claude Juncker says the EU “failed” by not getting involved in the UK’s 2016 referendum, won by the pro-Brexit camp. “Here we failed, because we didn’t adopt the position that was necessary. Abstention is not a position,” he told the German public broadcaster ARD. When asked if the EU should have “interfered” […]

What went wrong at Jamie’s Italian?

“If Jamie can replicate this early Oxford form,” wrote the Guardian’s restaurant critic Matthew Norman in 2008, “he will soon be driving a prize herd of recession-proof cash cows across the land.” Norman was reviewing the first branch of what would become a country-wide franchise, designed, in Jamie Oliver’s own words, “with the intention of positively […]

Facebook: Another three billion fake profiles culled

Facebook has published its latest “enforcement report“, which details how many posts and accounts it took action on between October 2018 and March 2019. During that six-month period, Facebook removed more than three billion fake accounts – more than ever before. More than seven million “hate speech” posts were removed, also a record high. For […]

Stagecoach takes legal action over West Coast franchise

UK rail operator Stagecoach is to take the government to court over its disqualification from running the West Coast Partnership franchise from 2020. Stagecoach and its partners were barred from running three franchises by the Department for Transport (DfT) last month. The DfT disallowed the bids because they did not meet pensions rules. The claim […]

UK retail sales stall in April

Retail sales stalled in April, but warmer weather boosted sales of clothing, which offset falls in other areas of spending. The Office for National Statistics said sales in April were flat on March, and higher than the 0.3% fall expected. In the three months to April, sales increased by 1.8%, with a record quarter for […]

Three more die on Everest amid overcrowding near summit

Three more climbers have died on Mount Everest, taking the death toll to seven in a week – more than the total for the whole of last year. The three died of exhaustion while descending on Thursday. It comes amid traffic jams near the summit as record numbers make the ascent, despite calls to limit […]

British Steel collapse: the role of Greybull Capital

In Spring 2016, Tata Steel’s loss-making Long Products division, based at the steelworks which dominates Scunthorpe, was on its knees. The news that private equity group Greybull Capital would buy it for a token £1 was hailed as a new dawn. The deal came with a promise to invest £400m in the business, with the […]

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