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’
It is possible that President Macon had some clever plan when he called a general election in the wake of catastrophic European election results last night. After all, he has a reputation for always being several moves ahead on the political chessboard. And yet one point is surely clear. France can’t afford a Le Pen
It was never very impressed by the opportunity to strike trade deals across the fast-growing Pacific. It didn’t much like the idea of deregulating the tech industry. Nor did it think much of diverging on financial standards to re-boot the City. The Labour party may have accepted our departure from the European Union, but it
He has created a major automobile company. He has built space rockets, taken over X, made himself hundreds of billions, and even found time to father lots of children. Elon Musk has plenty of achievements. And yet he may soon have one more. A cabinet post in the next Trump administration. But hold on: Musk
Foreigners are stripping the UK of its assets. Vulture capitalists are swooping down on our historic companies. We need a strategy to defend jobs and services. We will hear lots of arguments over the next few days about why the Czech billionaire Daniel Kretinsky should not be allowed to complete his agreed takeover of Royal
We don’t know much about what taxes she will impose. Nor do we have many clues as to how she will boost growth, or find the money to improve public services. Still, not to worry. It turns out that we can, at least according to her feed on X, trust the shadow chancellor Rachel Reeves
It more than doubled its sales. It unveiled a new line of microchips. It promised to keep rolling out new products for the next few years. In the end, Nvidia, the chip manufacturer, delivered the kind of blockbuster results that traders and investors had been waiting for. Yesterday’s ‘Nvidia Day’ (as the company’s quarterly results
Real wages have barely increased for more than a decade. Banks have had to be bailed out, and many still exist on a form of state life support. Growth has stalled, taxes are at 70-year highs, yet governments are still bankrupt. Unless you happen to be part of a tiny plutocracy made up mostly of
Another day, another all time high. As the week closed, the FTSE 100 index hit 8,433 — the highest level it has ever reached — and this is turning into a regular occurrence. The FTSE has now hit 11 all-time-highs over the last month, and it is close to equalling the record set way back
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
