Yet there are reasons to remain optimistic. Read more
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Yet there are reasons to remain optimistic. Read more
Turkey experienced a period of exceptional growth and institutional transformation in the run-up to the global financial crisis. The country invested in infrastructure, education and health in addition to adopting a number of market-oriented reforms. Data shows that in the years prior to 2008, Turkey grew at a pace similar to that of China.
Going in to the race, Froome’s imperial guard of Mikel Landa, Mikel Nieve, Wout Poels, Sergio Henao and Geraint Thomas had four mountain stage wins and seven top-ten general classification finishes in grand tours, as well as more than a dozen other victories in road cycling’s second tier of races. In almost any other team, any of these riders would be a team leader. Read more
Seven years after the financial crisis, Italy’s property market has still not recovered. House prices in the country fell 1.2 per cent year-on-year in the first quarter of 2016, the only drop among major EU countries. In contrast, house prices in the region expanded at an average of 4 per cent over the same period.
By Richard Dobbs and Anu Madgavkar (McKinsey & Company)
Since the end of World War II, people in advanced economies could rightly assume that they and their children would grow up to be better off than their parents and grandparents. With the exception of the stagflation period in the 1970s, almost all households experienced rising incomes, both before and after taxes and transfers, thanks to strong GDP and employment growth. Read more
Britain’s House of Commons has voted resoundingly in favour of renewing the country’s nuclear deterrent, the Trident submarine programme, to the bitter disappointment of the 177 MPs who voted against it and the delight of the 472 in favour.
But internal politics aside, the vote should hardly come as a surprise: no nuclear weapon-possessing country is preparing to give up its nuclear arsenal for the foreseeable future. Read more
Black Lives Matter has organised protests in the US at the deaths of African-Americans from police actions. A survey from Pew Research shows broad support (43 per cent with 22 per cent opposing), but with significant differences between whites and blacks and, among whites, between Democrats and Republicans
Austerity – reducing public spending – was the defining policy of the UK government from 2010.
Spending fell by six percentage points of GDP, with many departmental budgets cut by a quarter. Read more
Lin-Manuel Miranda’s hit Broadway musical “Hamilton” has been arguably the hottest tickets to ever hit Broadway. According to its producers, Hamilton broke records for pre-sales before its Broadway debut last summer, and recently, producers raised the price of 200 premium tickets from $475 to $849, making it the most expensive premium ticket on the Great White Way.
So it’s no surprise that prices on the secondary market have been similarly off the charts. While tickets going for more than $300 may have seemed expensive when it first opened, prices that cheap have been difficult to find in recent months.
Ticket prices reached a high point last Saturday for Miranda’s last performance as title character Alexander Hamilton. Tickets on StubHub were listed (not necessarily sold) for as high as $60,000 and $30,000 after fees. But in the few hours before the performance, ticket prices across the board began dropping. Read more
But although it might look like women’s and men’s tennis players now compete on a level financial playing field, true parity is still a long way off. In 2015 the top 100 men — as ranked by prize money — earned a total of $124.7m from singles tournaments, compared to $94.7m across the top 100 women.
So why the disparity? Read more
Latest figures showed a strong rise in US employment in June, with 287,000 extra jobs significantly above the average of 204,000 in the previous 12 months. However, the overall labour market picture is mixed. The unemployment rate rose 0.2 percentage points to 4.9 per cent, and labour force participation remains a crucial concern.
Even among those of prime working age participation rates remains low, over three percentage points lower than at the turn of the century. Read more
A week on from Britain’s historic vote to leave the EU, some of the most frequently asked questions have concerned turnout levels across different age groups.
Early cries that the young had been betrayed by older voters were countered with claims that it’s young people’s own fault for not voting in sufficient numbers. Some have asked how the UK’s age-structure itself impacted the vote: is the population so top-heavy in age-terms that the odds were always stacked against the younger generation? And then there is the question of whether David Cameron missed a trick in not giving the vote to 16- and 17-year-olds, who would have been expected to lean heavily towards Remain.
We have dug into the best available figures on turnout by age from the EU referendum, and combined them with various public datasets which allows us to answer these questions with the benefit of historical context, or even a glimpse into the future. Here’s what we found. Read more
Professor Kenneth Rogoff says that the UK vote to leave the EU was a “Russian roulette for republics”, with an ‘absurdly low bar for exit, requiring only a simple majority’, with no supermajority, second referendum or parliamentary confirmation vote required.
Many voters did not have had a clear idea of what they were voting for or of its consequences, and many now seem to regret it. But the results did confirm the existence of a diffuse anger among the UK population. Read more
The chain of events that led to Brexit will be examined in great detail — and much anguish on the Remain side — for years to come. Rapid changes in the UK’s political climate undoubtedly played a part, and global events including the Great Recession and recent European migrant crisis have left their mark.
But for now we can focus on what we know in the immediate aftermath of the vote: the distinguishing characteristics of the areas of Britain that voted for either side. Read more
Political journalists have become exceedingly wary of pollsters since they called last year’s general election wrongly. Are they right to be? The performance of major polling companies in this referendum could make or break their reputations – get it wrong again and the fury of Fleet Street will be unconstrained.
But there’s good reason to feel that hacks should have learned some lessons too – the first being, properly understand what it is that you are reporting. Here are a handful of key points to bear in mind when in the coming days we consider the pollsters’ performance in this referendum. Read more
How growth, trade, migration and more would be affected by a split with the EU Read more
The way our model calculates the average from the remaining five polls in its basket after outliers are removed is completely unchanged, but the polls in that basket should be more representative of where the ‘true’ opinion of the electorate lies.
After this change, our poll-of-polls has Leave on 45, two points ahead of Remain. Read more
The European Football Championships are upon us, and with them an eclectic mix of prediction models from media organisations, financial institutions and independent statisticians. To assuage our FOMO (fear of missing out, for the non-Millennials), the FT has joined in with one of our own.
Spain are favourites to lift the trophy, narrowly ahead of Germany and hosts France, based on our method which uses Champions League appearances and players’ market values to determine each team’s strength. This trio of teams comes in well ahead of the other 21 countries taking part.
Read on for details of the model and how it compares to the betting markets. Read more
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