Guest post by Eswar Prasad and Karim Foda
The world economy continues to be beset by mediocre growth, hesitant or impotent policy actions by national governments, and a dearth of confidence among households and businesses. The worst may be over but after yet another year of tepid growth in 2015 the world economy in 2016 faces the unsettling prospect of more of the same—at best. Read more
By Gonzalo Viña, Public Policy Reporter
Not that millennials need another reminder of how tough life is going to be for them, but research from the Bank of England shows that the value of having a degree has fallen substantially over the last two decades.
In 1995, when the last cohorts of Generation X were graduating, a degree would have boosted earnings on average by 45 per cent relative to having no qualifications at all, the bank said. The degree premium last year had slipped to 35 per cent.
Contrary to what some say, that’s one hell of fall.
The COP21 climate change calculator allows users to track and project greenhouse gas (GHG) emissions from China, US, EU1, India, Russia, Brazil, Japan, Canada, Australia and the Rest of the World (“Others”), over the period 1870 to 2100. China, US, EU, India, Russia, Brazil, Japan, Canada are the highest GHG emitters in the world. Together with Australia, they accounted for two-thirds of global GHG emissions in 2010.
To learn more about the underlying data, methodology for computation of temperature values and key messages from the COP21 calculator please read on… Read more
By Giles Wilkes
© Charlie Bibby/FT
Labour should be wary of giving credence to a very suspect number.
The £93bn figure now routinely used to evaluate the scale of “corporate welfare” in Britain is badly misleading. If the Labour Party is to re-establish its economic credibility, it needs to give the number a very wide berth. Read more
This is a guest post by Professor Sir Nigel Shadbolt, Chairman and Co-Founder, Open Data Institute
The UK is a world leader in open data. Open data is data that is published for anyone to use for any purpose at no cost. Open data about transport, spending, health, crime, the environment, mapping and much more is now freely available from the UK government. We are also seeing companies release some of their data as open data. Open data is not usually personal data unless it is released as aggregate or anonymised data that does not identify an individual. Read more
Guest post by Paul Hodges
Demographic change is creating major headwinds for the US economy, as confirmed by its disappointing first quarter GDP growth of 0.2 per cent. Consumption accounts for around 70 per cent of US GDP, and new data on household spending from the US Bureau of Labor Statistics (BLS) demonstrate how the ageing of the US population is creating major structural change in the economy. Read more
Polls suggest that the UK general election on May 7 will result in a hung parliament. A coalition, or a minority government backed by a “confidence and supply” deal with other parties, is likely to come to power.
This interactive graphic shows the scenarios possible based on the current projection from ElectionForecast.co.uk. Read more
This is a guest post by Liz Carolan, International Development Manager at the Open Data Institute
Literally translated Burkina Faso means “land of the upright people”. It has long been one of West Africa’s most stable countries, despite having one of world’s lowest GDPs and being surrounded by countries with serious security issues, like Mali and Nigeria.
In October 2014 Burkina Faso made its way onto TV screens around the world – a 36 hour popular uprising forced long-term leader Blaise Compaoré from office. An interim administration was put in place and the first elections for thirty years without Compaoré’s candidacy are planned for 11th October 2015.
And now the country hopes that open data and transparency will offer a stabilising force. It sees open data as a vehicle for distinguishing itself from the previous administration – open, transparent, and better at engaging with the public. Read more
2013 protest in Manchester against widening pay gap © Getty
By David Oakley
Britain’s top 10 highest paid bosses earn more than a combined £100m in the most recent financial year. For these top earners, their £118.9m aggregate pay packet was 27 per cent higher than what they received in the previous year.
This – at a time when real household median incomes in the UK is only just returning to 2007-2008 levels – is likely to put executive pay firmly back into the spotlight as the UK general election approaches and shareholders gather at upcoming annual general meetings. Read more
What would happen if the UK general election were held tomorrow? Our interactive graphic shows a projected redistribution of parliamentary seats based on the latest available polling data.
It is updated regularly from data published on electionforecast.co.uk, a website run by a team of researchers from the University of East Anglia, the London School of Economics and Durham University. Read more
Guest post by Paul Hodges
The UK’s ageing population is creating major headwinds for economic growth, data published last month Office of National Statistics shows. Read more
By David Blood and Aleksandra Wisniewska
More than 2,500 people are attending the World Economic Forum in Davos this week, but how are they connected outside of the picturesque alpine town?
There are signs that the 40 per cent fall in oil prices might not deliver the expected stimulus. Chris Giles assesses the outlook for the global economy while FT reporters look at the prospects for key exporters and importers.
The global financial crisis of 2008 had a big impact on migration, with a million fewer people a year moving to another country on average after 2010 than in the 10 years before. But since 1960, the percentage of the global population classified as migrants has remained steady at roughly 3 per cent, largely as a result of population growth. The OECD last year found that if there was a cost from new migrants it was generally small.
Global consumption of farmed fish and seafood is set to exceed that of wild fish this year, according to the UN’s Food and Agriculture Organisation. With the total traded fish market worth $136bn in 2013, this turning point for the industry ensures a more stable food supply but it also carries environmental risks.
Click to read more 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
by Gavin Jackson and Keith Fray
On Tuesday the International Monetary Fund released its latest World Economic Outlook. A striking new finding emerges: the seven largest emerging markets are now bigger, in gross domestic product terms, than the long established G7 group of industrialised nations, when measured at purchasing power parity (PPP). Read more
By Tom Burgis, Caroline Nevitt, and Martin Stabe
Chinese investment in postwar Angola set the template for major infrastructure deals in Africa over the past decade. FT’s Tom Burgis explains Beijing’s quest for a continent’s resources. Read more