Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’
Queues that stretch for hours. Technology that doesn’t work. And a system so poorly designed that this isn’t the first time it’s broken down. There appears to be a perfectly innocent explanation for the failure of the passport e-gate system across the UK’s airports last night – a ‘system network issue’ – despite the wilder
Javier Milei was taking too many risks. Argentina’s president didn’t have enough political support. And his radical version of free market economics didn’t offer any solutions anyway, especially in a world where the state is more crucial than ever. When Milei won the presidency last year there were plenty of predictions that he would fare
Ireland is reaping the benefits of a Brexit bonus to the tune of €700 million (£600 million). It is not hard to understand why hardcore Remainers are gleefully reporting the news that the government in Dublin is collecting huge extra revenues, much of which comes from imposing tariffs on British goods. What is being reported
It will write your WhatsApp messages for you. It will post a cute picture of your cat on Instagram, even if you don’t actually have a cat. And it will put some enhanced memories up for you on Facebook, while cheerfully making connections with people you don’t know and who may well not actually exist…
The share price is in freefall. Sales are sliding at an accelerating rate as customers lose interest. The Chinese are moving in, and the brand is tarnished. When Elon Musk unveils the quarterly results for Tesla later today, he will need to convince his shareholders he has a plan to turn the company around. The
It has been a long time since the West dominated shipbuilding, or steel making. We are already aware that we are losing ground in consumer goods, as well as in finance and transport. Add it all up, and we no longer expect the US, Europe or its allies to control the global market in most
It hires the cleverest young graduates every year. It brings in talent from around the world. And it has the budget to acquire all the resources it needs. With all this at its disposal, you would think the Bank of England could at least come up with a better excuse for its dismal record on
It has finally happened. In trading on Tuesday afternoon, the UK’s FTSE 100 index finally closed in on an all-time high. It hit 8,015 points, itching above the previous record closing level of 8,014 set in February 2023 – even if it was still a whisker below the intra-day trading record of 8,043, also from
Mortgage rates will finally start to come down again. Consumers will have a little more money in their pockets. And companies will find it cheaper to invest. Today’s cut in interest rates was a much needed boost for the economy. Oh, but hold on. That was over in Switzerland, where the central bank this morning cut
Growth will be turbo-charged, animal spirits will be unleashed, and foreign investment will flood back into Britain. Shadow chancellor Rachel Reeves is promising a Thatcher-style revival of the British economy if Labour wins power. But there’s a problem with the pitch that she will deliver in her keynote Mais lecture on the economy today: a
It will put more money in people’s pockets. It will improve the incentives to work. And it will put down a marker that the party does still believe taxes can occasionally be cut. The Chancellor Jeremy Hunt is not the world’s finest speech-maker, but he will probably attempt a few rhetorical flourishes when he cuts
At a certain point, your smartphone may no longer accept the latest software update from Apple or Google. Your laptop could get so cranky after four or five years that it is easier to replace it with a new one than spend hours staring at the blue screen of death. Even your toaster or your
Apple’s much-hyped electric car appears to have been killed off before it ever hit the road. For years, the tech firm’s plan to branch out into developing an electric, semi-autonomous car have been the subject of much excitement. Codenamed Project Titan, fans speculated that Apple would turn its magic to designing a car that would
The currency would collapse. Output would go into freefall. Unemployment would soar, and the IMF would be back in charge quicker than you could say ‘chainsaw’. When Argentina voted into power its libertarian new president Javier Milei there were predictions that his radical free market reforms would quickly plunge the country into chaos. But hold
A lot has happened over the past 34 years: the Cold War ended, several wars have taken place in the Middle East, a banking collapse occurred, and a global pandemic left millions stuck inside their homes. But one thing remained constant throughout: the bear market – a price drop of 20 per cent or more
The City of London would be hollowed out. Bankers would have to retrain as burger chefs. And Paris and Frankfurt would emerge as the twin centres of the European financial markets, leaving London as little more than a backwater. Of all the predictions made by some Remainers during Brexit, there was one that kept re-emerging:
Thierry Breton is, on the face of it, well qualified to regulate Europe’s tech industry. After a brief spell as French finance minister, from 2009 to 2019 he ran the computing giant Atos, one of the champions of France’s IT industry. Yet Atos is now in deep trouble. Shares have plunged more than 90 per
Government borrowing is lower than had been forecast. The economy needs some form of a boost. And perhaps most of all there is an election within a few months. There are plenty of reasons why Chancellor Jeremy Hunt might want to cut taxes slightly in his spring Budget, and perhaps even once more by the
Christine Lagarde, the president of the European Central Bank, has one of the most glittering CVs in European politics. The ex finance minister of France, and former managing director of the International Monetary Fund, earns £365,000 a year for running the show at the ECB. But is she any good? An internal poll of staff
Why is Oxfam so concerned about the coming possibility of the world’s first trillionaire? The charity has this week released a report with an apocalyptic warning that one is likely within the next decade. Yet surely people only get that rich by making something that people want. That should be celebrated instead of condemned. In
