Carney rips his shirt off

  • 4 August 2016
  • From the section Business
Mark Carney mock-up with him opening his shirt Image copyright Thinkstock/EPA/Getty Images

The Bank of England is not very confident about the future of the economy.

It says growth will fall dramatically, announcing the biggest downgrade to its growth forecast since it started inflation reports in 1993.

The economy, it says, will be 2.5% smaller in three years' time than it believed it would be when the Bank last opined on these matters in May.

Unemployment will rise (although only marginally), inflation will rise, real income growth will slow and house prices will decline.

Growth, the Bank believes, will fall perilously close to zero over the final six months of this year.

Read full article Carney rips his shirt off

Evidence of an economic slowdown is growing – over to you Mr Carney

  • 3 August 2016
  • From the section Business
Mark Carney looking glum Image copyright Getty Images

The lowest figure since February 2009; the biggest fall since the figures started to be collected in 1996.

For those hunting for poor economic data since the referendum result, today's Purchasing Managers' Index for the crucial services sector certainly provides significant pickings.

Read full article Evidence of an economic slowdown is growing – over to you Mr Carney

UBS rogue trader: 'It could happen again'

  • 1 August 2016
  • From the section Business
Media captionKweku Adoboli, who cost UBS £1.4bn in rogue trades, apologises for his crime.

The London trader who lost the Swiss bank UBS £1.4bn ($1.9bn) has apologised and said that banking has not done enough to regain the public's trust.

In his first broadcast interview, Kweku Adoboli told the BBC that banking was still riven by conflicts of interest.

Read full article UBS rogue trader: 'It could happen again'

Why did the chancellor tell me Hinkley 'will go ahead' five days ago?

  • 29 July 2016
  • From the section Business
Philip Hammond Image copyright Reuters

When you are chancellor, you tend to know pretty much everything that is going on in government.

So the fact that Philip Hammond told me at the weekend that Hinkley "will go ahead" raises a whole host of possibilities, from the intriguing to the mundane.

Read full article Why did the chancellor tell me Hinkley 'will go ahead' five days ago?

Take care over these economic figures

  • 27 July 2016
  • From the section Business
Cars Image copyright Getty Images

Looking in the rear view mirror doesn't always tell you much about the road ahead.

And that is essentially what today's second quarter economic growth figures are about - a health check on the road behind us, not a snap shot of the here and now.

Read full article Take care over these economic figures

UK explores multi-billion pound free trade deal with China

  • 24 July 2016
  • From the section Business
Philip Hammond Image copyright Getty Images

Philip Hammond has begun discussions with China on an ambitious free trade deal which could see greater access for major Chinese banks and businesses to the UK economy.

The chancellor told me that despite a short term economic shock to the economy of Britain leaving the European Union, it was now time to explore "new opportunities" across the world.

Read full article UK explores multi-billion pound free trade deal with China

Could Hammond change the UK's fiscal direction?

  • 22 July 2016
  • From the section Business
Philip Hammond Image copyright EPA

Well, that was a surprise.

Among the warm words on Sino-British relations (the UK still wants to be a major investment partner with China) the new chancellor of the exchequer dropped a small grenade.

Read full article Could Hammond change the UK's fiscal direction?

Brexit is not the only economic story in town

  • 19 July 2016
  • From the section Business
EU and UK flags on beach Image copyright Getty Images
Image caption Beyond Brexit - looking to the horizon

Sometimes you need to look at the horizon to understand what is going on at your feet.

The Brexit debate can often appear a little parochial - a "looking at your feet" discussion about the UK economy, which seems to take little notice of the wider global economic context in which Britain sits.

Read full article Brexit is not the only economic story in town

Osborne comes out of the shadows

  • 18 July 2016
  • From the section Business
George Osborne Image copyright PA

George Osborne's Margaret Thatcher Lecture on Monday night is his most substantial attempt since he lost his job at laying out the political philosophy that guided his time as Chancellor.

And there are a number of big messages at its heart.

Read full article Osborne comes out of the shadows

Interest rates on hold - for now

  • 14 July 2016
  • From the section Business
Bank of England Image copyright AFP

So, the interest rate cut is off, for now.

The Monetary Policy Committee (MPC) has decided - significantly by a 8-1 majority rather than unanimously - that a little bit of patience is necessary to see how the economy performs over the next few weeks.

Read full article Interest rates on hold - for now