America’s pit traders revolt…
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The London summit is in the first week of April — which happens to coincide with US banks putting out first quarter results. It could be messy. Nationalisation is rising up the Washington agenda. There is a chance — albeit small — that Obama will have to seize the banks around the time he’s due to hob-nob at the G20.
Last Friday some parents lost their legal challenge to stop a proposed academy in Camden. The press reports mainly covered it as a blow to plucky campaigners. But this was a story of national significance. One Whitehall academy champion told me this case was the single thing he “worried about most”. Had the ruling gone the other way, it would have devastated both Labour and Conservative plans to reform education.
Why? The parents demanded that academy sponsors should be selected through a European Union procurement process, rather than being chosen by ministers. A competitive tender would take months longer and cost much more, for both the government and the sponsor. The sponsor in Camden was UCL. Had the judge told them to make their bid via Brussels, the university would have almost certainly walked away. Why bother with the cost? Read more
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