The UK economy has finally recovered. Today’s estimate by the Office for National Statistics of gross domestic product for the second quarter takes output (adjusted for inflation) to a new high, above the level of the first quarter of 2008*.
Hurrah. But, although welcome, this is nothing to celebrate. The government will not be ordering church bells to be rung. That the sum total of everything produced in the economy is only now returning to the levels of six years ago is astonishing. To give some context, the recession and recovery have lasted about nine months longer than the second world war. Read more
Trust in institutions to use data is much lower than trust in them in general, according to a new survey for the Royal Statistical Society.
The poll of just over two thousand British adults carried out by Ipsos MORI found that the media, internet services such as social media and search engines and telecommunication companies were the least trusted to use personal data appropriately. Read more
Water scarcity is starting to hit the balance sheets of multinationals, who have spent more than $84bn managing their water usage in the last three years.
The Financial Times has gathered data on 78 corporate water projects around the globe, including desalination plants, hydroelectric power stations and river course modification. Read more
US prosecutors are offering immunity deals to junior traders in London as they try to gather evidence against banks and more senior staff in the investigation into alleged currency market manipulation. The Forex scandal is, at its core, a story about alleged wrongful sharing of information to boost trading profits. In this interactive, the FT has compiled 30 foreign exchange traders and sales staff who so far have been suspended, placed on leave or fired amid regulatory investigations that started in 2013. Read more