How well is Britain’s economy doing? The default answer has always been to look at GDP – which is why legions of city analysts are anxiously hunched over their screens at precisely 9.30am every quarter.
But over the past decade there has been widespread acceptance that this headline number doesn’t adequately describe whether most people are in fact feeling better off. Read more
The UK’s information technology sector could be about 40 per cent bigger than previously though, with at least 70,000 more ICT companies in operation.
That’s according to the National Institute of Economic and Social Research who have come up with a pretty novel way of measuring the size of Britain’s tech sector using one of the industry’s most hyped concepts ‘big data’.
Europe’s producers of pears are leaving crops to rot because of retaliation by Russia, the biggest buyer of European pears, against sanctions.
Many growers say it is cheaper not to harvest any but the most perfect fruit in a year when, according to Mintec, the commodities research and data group, overall production in Europe is estimated at 2.27m tonnes, down 2 per cent year-on-year from high output levels of 2013. Read more
In the aftermath of the financial crisis the world saw an increase in the number of street protests. Many inspired by perceived connections between the political elite and business interests; Occupy Wall Street and Los Indignados in the west to the Arab Spring and the protests against Victor Yanukovich in Ukraine. A new working paper from the National Bureau of Economic Research presents evidence on their power.
Daron Acemoglu, Tarek Hassan and Ahmed Tahoun examines the correlation between street protests in Egypt and the stock market returns for firms connected to former president Hosni Mubarak’s National Democratic Party (NDP), the Muslim Brotherhood and the Egyptian military. Read more
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.
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The central banks might be keeping us guessing, but businesses have no doubts where they first expect interest rates to rise.
Forty-nine per cent of respondents to the latest FT/Economist Global Business Barometer said that the US Federal Reserve would be the first to raise rates, with the Bank of England a distant second with a 14 per cent share. Read more