Once prices start falling it is difficult to stop them

David Blanchflower: We're now in deflation and sorry, but it's not good news

Lots of economists are telling everyone that we shouldn’t worry about this negative inflation

Publicans: stop moaning and start flipping burgers

Outlook There was a little extra froth on the top of Young’s results, thanks to the pub chain’s move into the burger business. 

Andrew Bailey makes an unlikely witch-finder general

Outlook The Bank of England’s deputy governor Andrew Bailey has once again found himself cast in the role of the man who is destroying banking in Britain. The industry’s witch-finder general is now such a figure of fear, his regime of guilty until proven innocent so harsh, that even the promise of multimillion-pound salary, share and bonus packages aren’t enough to persuade people to take top jobs.

Cosmetic surgery on incentives won’t mean that Tesco does the right thing

Outlook It seems Tesco has taken to following the banking play book. Following a parade of ugly scandals that make Tesco’s mis-stated results look like a minor rounding error, the banks and their regulators came to the conclusion that if you give people an incentive to do the wrong things then they will do the wrong things.

Thomas Cook gets it, at last

Outlook The penny finally seems to have dropped for Thomas Cook, with Peter Fankhauser admitting his company treated badly the parents of two children who were killed by carbon monoxide poisoning on holiday in Corfu. Ironically, it was pennies that got the travel company into this mess in the first place: the firm was penny wise, pound foolish. The management was fixated on leaving no possibility of financial liability by even hinting at responsibility. But it failed to consider the financial impact of the reputational damage this strategy could bring. For Mr Fankhauser to say the company had “nothing to apologise for” at the inquest, because it had been cleared of criminal responsibility in the Greek courts, might have been legally correct – but it was a catastrophically callous tone to strike.

It's China, not currency, that matters to Burberry

Outlook The colossal power of Burberry’s brand in China was brought home to me a few years ago when my aunt visited from Guangzhou and hauled me off to an East London factory to rifle through racks of check-lined trenchcoats.

We should praise Ed Miliband's ideas on business, not bury them

Outlook Trust the banks to go and spoil things. The very day after Yvette Cooper tries to make amends with the business community by burying Ed Miliband’s infamous distinction between “predators and producers”, a parade of large banks is hit with fresh regulatory fines for rigging markets, thus reminding everyone that some corporate behaviour really can only be described as… well, predatory.

Athens is attempting to negotiate a better deal with its creditor nations in the European Union

Ombudsman workload bodes ill for customers

Outlook The Financial Ombudsman Service is celebrating its 15th anniversary with the news that it has handled 2.8 million disputes between the industry and its customers since 2001.

We should all have a say on what bankers earn

Outlook Some of the former Downing Street adviser Steve Hilton’s ideas have been wacky, some have been positively dangerous, but he’s had some good ones too. Take his latest: suggesting that top bankers should trade in their seven-figure salaries for the (low) six figures commonly paid to top civil servants.

Can we fix it? Yes, we can – with foreign labour and a better attitude

Outlook Remember all those gaudy promises in the run-up to the election about the number of houses each party planned to build? They’re going to be broken because Bob the Builder’s mates all went to university and there’s a severe shortage of people to do the work.

A worrying lack of scrutiny as former spook joins BP's board

Parliamentary Business: Sir John Sawers' wife caused a bit of a scare when she put pictures of him in swimming trunks on Facebook

Picasso’s painting ‘Women of Algiers (Version O)’ sold for £115m at auction in New York

Can we deflate the asset price bubble without a big bang?

Low interest rates and quantative easing saved us after the crash. But now all the central banks face a great dilemma

News
‘Pragmatic’ reforms may not be enough for the tax campaigners who protested outside Barclays’ AGM
Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
News
Tesco has been audited by PwC since 1983
James Moore: Change the incentives and you change the behaviour – that’s the theory
News
Athens is attempting to negotiate a better deal with its creditor nations in the European Union
Hamish McRae thinks that there will be a deal that enables the government to continue functioning in response for concessions that it can argue are just about within its red lines
News
There are good reasons to think it will be a temporary bout, but we are not home and dry yet, says Ben Chu
News
Nothing Thomas Cook could ever do would bring back the two children killed by carbon monoxide poisoning on a Greek holiday in 2006. But the firm’s handling of the case has been a lesson in how not to manage a crisis. Joanna Bourke reports
News
Research showed that one individual lost more than £13,000 in a gambling session lasting more than seven hours
Having meandered rather aimlessly for a couple of years, the awkwardly named Bwin.party suddenly finds itself cast in the role of Portia in The Merchant of Venice, beset by suitors on all sides, says James Moore
News
The chief executive of advertising giant WPP writes exclusively for The Independent
News
BrewDog, now Scotland’s largest independent brewer, has a great tale. David Prosser tells it
News
Chancellor George Osborne says he has a mandate for more austerity
So we are supposed to believe wage growth, productivity and GDP growth will not be impacted by the austerity that is to come, even though they were last time? David Blanchflower doesn't think so
News
The Bank of England Governor wants to ‘dampen down’ the idea that migrant workers, such as these fruit-pickers in Surrey, are an economic problem
Claims have abounded this week that new migrants are to blame for weak pay growth in Britain in recent years - but the evidence suggests otherwise, says Ben Chu
News
Verizon made the purchase in order to compete with the likes of Google and Facebook
The pop star Prince is enjoying something of a career revival in the United States. And, fittingly, Silicon Valley is also partying like it’s 1999. Andrew Dewson reports
News
Bob Diamond raised $325m for his African venture in 2013
Zeus seems to have chucked a stray thunderbolt at the financial titan that is former Barclays boss Bob Diamond. Will he and his Atlas Mara now have to hold up the heavens as punishment, asks James Moore
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Day In a Page

Abuse - and the hell that came afterwards

Abuse - and the hell that follows

James Rhodes on the extraordinary legal battle to publish his memoir
Why we need a 'tranquility map' of England, according to campaigners

It's oh so quiet!

The case for a 'tranquility map' of England
'Timeless fashion': It may be a paradox, but the industry loves it

'Timeless fashion'

It may be a paradox, but the industry loves it
If the West needs a bridge to the 'moderates' inside Isis, maybe we could have done with Osama bin Laden staying alive after all

Could have done with Osama bin Laden staying alive?

Robert Fisk on the Fountainheads of World Evil in 2011 - and 2015
New exhibition celebrates the evolution of swimwear

Evolution of swimwear

From bathing dresses in the twenties to modern bikinis
Sun, sex and an anthropological study: One British academic's summer of hell in Magaluf

Sun, sex and an anthropological study

One academic’s summer of hell in Magaluf
From Shakespeare to Rising Damp... to Vicious

Frances de la Tour's 50-year triumph

'Rising Damp' brought De la Tour such recognition that she could be forgiven if she'd never been able to move on. But at 70, she continues to flourish - and to beguile
'That Whitsun, I was late getting away...'

Ian McMillan on the Whitsun Weddings

This weekend is Whitsun, and while the festival may no longer resonate, Larkin's best-loved poem, lives on - along with the train journey at the heart of it
Kathryn Williams explores the works and influences of Sylvia Plath in a new light

Songs from the bell jar

Kathryn Williams explores the works and influences of Sylvia Plath
How one man's day in high heels showed him that Cannes must change its 'no flats' policy

One man's day in high heels

...showed him that Cannes must change its 'flats' policy
Is a quiet crusade to reform executive pay bearing fruit?

Is a quiet crusade to reform executive pay bearing fruit?

Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
The King David Hotel gives precious work to Palestinians - unless peace talks are on

King David Hotel: Palestinians not included

The King David is special to Jerusalem. Nick Kochan checked in and discovered it has some special arrangements, too
More people moving from Australia to New Zealand than in the other direction for first time in 24 years

End of the Aussie brain drain

More people moving from Australia to New Zealand than in the other direction for first time in 24 years
Meditation is touted as a cure for mental instability but can it actually be bad for you?

Can meditation be bad for you?

Researching a mass murder, Dr Miguel Farias discovered that, far from bringing inner peace, meditation can leave devotees in pieces
Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

Australia's first-ever Eurovision entrant

Australia, a nation of kitsch-worshippers, has always loved the Eurovision Song Contest. Maggie Alderson says it'll fit in fine