The Facebook bubble is down to QE2. Where will it end?
Our Economics Editor looks into the $50billion valuation of Facebook – and finds that UK-style quantitative easing is behind the company’s rapid growth.
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Our Economics Editor looks into the $50billion valuation of Facebook – and finds that UK-style quantitative easing is behind the company’s rapid growth.
Predictions in politics are a mug’s game: defining moments, from 9/11 to the banking collapse, often come from nowhere. But caveats aside, here’s some tips for 2011, from Gaby Hinsliff.
Exposure to Ireland’s crippled economy will force Lloyds Banking Group to write down more than £4bn of loans – a “not helpful, but not life-threatening” step, one analyst tells Channel 4 News.
We end 2010 – two years after the most devastating banking crash of our life times with still not a single individual from any UK financial institution prosecuted, let alone in jail.
The spending cuts in Ireland outlined by Finance Minister Brian Lenihan were “not a normal budget, but the environment in which it was delivered is not normal”, writes economist Dr Peter Stafford.
As Gordon Brown prepares to publish his book amid a barrage of bad publicity, Gaby Hinsliff asks how different events might have been if the former prime minister hadn’t taken the top job.
Not content with causing turmoil in the normal functioning of global diplomacy, Mr Assange rather candidly pointed out that the next major target for a “megaleak” of tens of thousands of documents was a “major US bank”.
Two articles over the past few days describe the core of the crisis in the integrity of the political classes.
The budgetary watchdog sees an “uncertain” future for the UK economy – but predicts public sector job losses will be much lower than forecast. Chancellor George Osborne says “Britain is on the mend”.
In the bailout package agreed for Ireland by EU finance minister today, senior bondholders in Irish banks are 100 per cent safe.
Almost entirely, the institutions that lent money to the RBSs and HBoSs and Northern Rocks, and the Irish banks, that was then mislent, have got away scot free. But according to this Irish Times article, the IMF and EU might be about to change things with a “bail-in” of such creditors.
As Ireland hears the austerity measures that are part of the condition of its European bail-out, Faisal Islam blogs on the wrecked economy which sees Paddy Power become the most valuable financial institution in Ireland.
For those of us who are relative financial ignoramuses, is this the financial world of the madhouse? Jon Sno blogs on the Ireland bailout and the “failue of capitalism”.
As Faisal Islam reports from an Ireland reeling from the announcement of austerity measures, Siobhan Kennedy watches the protests in Portugal, the potential next bailout hotspot.
Our Political Editor recalls the last time the Treasury got involved in a banking bailout – and wonders if there’s another reason George Osborne favours Ireland.