Ordinarily, nominal gross domestic product grows faster than real GDP, but the deflation that followed Japan’s lost decade reversed this and led to both a fall in private consumption and a rise in the country’s public debt.

 

  Read more

 

In the aftermath of the financial crisis most major developed economies embarked on a programme of austerity, with mixed success. Ireland stands out — it has managed to reduce its deficit from 29 per cent of GDp to 4 per cent.

 

 Read more

That might be changing. The British government and a few others including Canada, Costa Rica, Colombia and Paraguay are working towards opening up the information about public procurement through an ‘open contracting data standard’.

The first version is launched today and sets out a technical standard for the data and documents that ought to be published at each stage of the contracting process, from the invitation to tender through to completion. Read more

 

At least 10 million people around the world are not recognised as nationals by any country, many are members of minority ethnic groups who have been denied citizenship by the countries in which they live.

 

  Read more

 

Yesterday the first ever man made object landed on a comet. The robot Philae travelled 6.4bn kilometres before touching down on the surface of comet 67P. So far in human history the moon has been the most popular destination for trips off planet with six manned landings.

  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