In These New Times

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Archive for the ‘UK economy’ Category

Government issues first Islamic bond

Posted by seumasach on September 23, 2014

Gov.uk

14th August, 2014

The government has today (25 June 2014) cemented Britain’s position as the western hub for Islamic finance by becoming the first country outside the Islamic world to issue sovereign Sukuk, the Islamic equivalent of a bond.

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UK hints at next reserve currency

Posted by seumasach on September 17, 2014

To Issue Chinese Yuan-Denominated Bond

Zero Hedge

15th September, 2014

Yuanification continues around the world. As The USA attempts to corral its allies in a ‘broad coalition’, an increasing number of people – including domestic economic policy advisors – are shifting away from the USD as primary reserve currency. However, the move by British Chancellor of the Exchequer George Osborne, announced Friday, is likely the most notable yet in the world’s de-dollarization. As Xinhua reports, the British government intend to be the first nation (ex-China) to issue Renminbi denominated bond and to use the proceeds to finance the government’s reserves of foreign currency. Osborne described this dialogue outcome as “a historic moment” and a statement of British confidence in the potential of the RMB to become “the main global reserves currency”.

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City speculates on Chinese buyer for Balfour Beatty

Posted by seumasach on September 14, 2014

Global Construction Review

Rumours have been circulating in the City of London that an Asian company, possibly Chinese, may be interested in buying Balfour Beatty, the UK’s biggest contractor, since talks over a merger with Carillion broke down.

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UK banks ‘still vulnerable to global shocks’

Posted by seumasach on June 13, 2014

The idea of bailing out the banks in perpetuity is totally devoid of realism. Neither the pound sterling nor the British people would survive such a policy. The only answer is to allow the banks to fail, to put them through bankruptcy.

HITC

Britain’s financial sector remains vulnerable to further global shocks and the Bank of England must be ready to rescue banks that run short of funds, Threadneedle Street warned on Thursday.

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China’s poorest beat our best pupils

Posted by seumasach on February 18, 2014

The terrible truth about educational levels  is another aspect of contemporary Britain which we refuse to confront along with the real state of our banks, our infrastructure, our industrial base, our public health and so on.

Telegraph

17th february, 2014

British schoolchildren are lagging so far behind their peers in the Far East that even pupils from wealthy backgrounds are now performing worse in exams than the poorest students in China, an international study shows.

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British exit from EU may scare off foreign investors

Posted by seumasach on January 19, 2014

British exit from EU may scare off foreign investors, admits Vince Cable

Guardian

18th January, 2014

Vince Cable has admitted that the government is battling to reassure foreign investors who are increasingly worried about a potential British exit from the European Union.

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Li: Britain and China “indispensable and equal partners”

Posted by seumasach on December 3, 2013

Li said Britain and China were indispensable and equal partners, noting the prime minister’s recent approach to Beijing by acknowledging the territorial integrity of China – diplomatic code for accepting Beijing’s rule over Tibet.

Li said: “We have become indispensable partners for each other’s development. China and the UK must treat each other as equals.”

From Guardian, 2nd December, 2013

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UK seeks Chinese investment

Posted by seumasach on December 3, 2013

“We think we have a lot to learn from China because of the success of your high-speed rail. I said to your president and prime minister yesterday that just as we welcome Chinese investment into nuclear power, into other infrastructure so there will be very open competition to provide the infrastructure for our network. We will welcome Chinese investment into that.”

Guardian

3rd December, 2013

UK would welcome Chinese investment in HS2, says David Cameron

David Cameron has told the Chinese leadership that he would welcome investment by Beijing in Britain’s high-speed rail network.

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£1,430,000,000,000 (that’s £1.43 trillion): Britain’s personal debt timebomb

Posted by seumasach on November 22, 2013

Independent

20th November, 2013

Britain faces a timebomb as the cost of living crisis forces more people into crippling debt they will not be able to repay, according to a major study published today.

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Fury at Glasgow woman’s Bedroom Tax eviction

Posted by seumasach on November 17, 2013

 

Newsnet Scotland

15th November, 2013

A woman from Glasgow has become the first in Scotland to be evicted due to the Bedroom Tax after falling behind with her rent.

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Red Cross aid plan for UK’s hungry

Posted by seumasach on October 12, 2013

Red Cross launches emergency food aid plan for UK’s hungry

Independent

11th October, 2013

The Red Cross will this winter start collecting and distributing food aid to the needy in Britain for the first time since the Second World War, as welfare cuts and the economic downturn send soaring numbers of people to soup kitchens and food banks across Europe.

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