Author: Loveworld UK

The Bank of England governor has reportedly said Britain’s economy could enjoy a boost worth billions if Theresa May secures a deal with the EU based on her Chequers plan. According to the Financial Times, Mr Carney told the cabinet on Thursday that the economy could get a £16bn bounce.It comes after he also warned that in a worst case scenario a “no-deal” Brexit could see house prices fall as much as 35% over three years.Mrs May has faced a backlash over the Chequers plan from hardline Brexiters in her cabinet and party.The FT reported that eurosceptic ministers such as…

It’s not hard to find the relics of Lehman Brothers. Look across New York at night and you can see a skyscraper, reaching up from the busy streets midtown.These days, it has the name Barclays emblazoned across its top. Ten years ago, the sign said Lehman Brothers.Lehman’s had been in business since 1850, slowly building up its business and its reputation.By the early years of the 21st century, it was the fourth biggest investment bank in America, a global player.By the end of 2008, it had gone – a bank that went bankrupt; the biggest corporate failure in history.And when…

The beginnings of another financial crisis are already in motion – and it will be worse than the global meltdown of 2008. That’s the opinion of one of the select band of economists who predicted the 2008 economic collapse, which started with the bankruptcy of Lehman Brothers bank a decade ago and ended up affecting every country in the world.Ann Pettifor predicted that crisis in 2006, more than two years before it actually struck.Now she thinks the global economy is in danger once more thanks to huge corporate debt, and the prospect of rising interest rates in the United States.She…

It is absurd to accuse Russia of lying about two men accused of poisoning the Skripals in Salisbury, the Kremlin has said. Claims by Alexander Petrov and Ruslan Boshirov on Kremlin-funded TV channel Russia Today that they were in Salisbury on 3 March as tourists to visit the cathedral and nearby Stonehenge have been met with widespread incredulity.The Kremlin has said that it would consider a British request to interview the two men, but had not received one. Image: Boshirov (left) and Mr Petrov were named as suspects by the UK Spokesman Dmitry Peskov said any request would be looked…

British Steel has announced plans to cut 400 jobs in what unions describe as a “body blow” to workers. The proposed losses will be in managerial and back office roles in the UK, Ireland, France and the Netherlands, according to the firm.No closures are being considered as part of the “streamlining process”, which the company says is aimed at ensuring the long-term growth of the business.The move comes despite the firm itself pointing out it had turned a business losing tens of millions of pounds a year into one making profit – some £21m in the first quarter of this…

The most senior judge at Sheffield Crown Court has been forced to abandon the sentencing of a drug gang because the prison officer strike meant some of the defendants failed to arrive in court. Judge Jeremy Richardson QC, Honorary Recorder of Sheffield, expressed his “displeasure” after making the decision, and said he was “blissfully unaware” of the industrial action, which involves thousands of members of the Prison Officers’ Association (POA).He said at least two of the six defendants who were in custody failed to arrive at the court and added he had been told that a van waiting to transport…

The Archbishop of Canterbury has been accused of hypocrisy after it emerged the Church of England invests in Amazon and uses zero-hour contracts, having attacked both. In a speech to the TUC Congress in Manchester earlier this week, Justin Welby criticised firms like Amazon for paying “almost nothing” in taxes, and branded the so-called gig economy and zero-hours contracts as “the reincarnation of an ancient evil”.However, the Church has now confirmed the online retail giant is one of its 20 biggest investments worldwide and at least two of its cathedrals are advertising zero-hours contract jobs. 1:09 Video: Archbishop on tech…

The Philippines is braced for a “super typhoon” with powerful winds and gusts set to hit the northeast of the country on Saturday. Authorities have been evacuating thousands of people from the path of Typhoon Mangkhut, which is on course to hit Cagayan province.Schools have been closed and bulldozers are ready to cope with landslides, and rescuers and troops have been put on full alert.An estimated 4.2 million people are vulnerable to the most destructive effects near the typhoon’s eye, which is 77 miles (125km) wide.Nearly 48,000 houses in those high-risk areas are made of light materials and vulnerable to…

Hundreds of thousands of people have been evacuated as Hurricane Florence closes in on North Carolina’s coast with “life-threatening” winds. Just before 5am ET (10am BST) the National Hurricane Center (NHC) said the eye of the storm was about to make landfall in North Carolina as hundreds of thousands of people were evacuated.Florence was downgraded overnight to a category one hurricane – with 90mph (145kmh) winds – but forecasters have warned that conditions will only get more lethal as the storm pushes ashore in the early hours of Friday morning.At least 280,000 people are already without power as the outskirts…

The Bank of England has maintained interest rates at 0.75% as the clock ticks down to Brexit in March next year. The monetary policy committee (MPC), which voted unanimously in favour of no change to the benchmark rate, raised its projection for UK economic growth in the current third quarter to 0.5% from 0.4%.It credited better-than-expected household spending in the warm summer.However, the minutes from the meeting stated there was little new data to shift its other main forecasts.The MPC did continue to point to increased downside risks from US president Donald Trump’s trade battles. Image: The MPC sees risks…