Jeremy Warner: G20 must be careful not to make cure worse than disease

Outlook: Few events are guaranteed to produce quite so much hot air as international summits of global political leaders. Common ground is so difficult to find that rarely do their communiqués add up to anything more than a string of meaningless platitudes.

Jeremy Warner: Now it's public debt we must worry about

Outlook The public finances are continuing to deteriorate at an alarming rate, with growing unemployment, falling corporate tax receipts but still-rising Government spending, further enhanced by repeated bank bailouts.

Jeremy Warner: Tucker exits Pru at top of his game

Outlook Most chief executives outstay their welcome. Mark Tucker, chief executive of Prudential, seems to be doing the reverse. He's leaving with almost indecent haste after little more than four years at the helm. Yet despite the arrival of a new chairman earlier this year and rumours of strat-egic differences – Mr Tucker is said to have been hot to trot over the acq-uisition of AIG's Asian assets while the new chairman may not have been quite so keen – I think we have to accept his insistence that he's going of his own accord having achieved much of what he set out to do at the Pru.

Jeremy Warner: MPC hawk out, Brown crony in

Outlook No one will ever admit it publicly, but the Government top brass has not been impressed by the Bank of England's handling of the economic crisis. Ministers believe the Monetary Policy Committee was too slow to act on interest rates and liquidity, and it is plain that even the Bank's plan of action on quantitative easing has created tension with the Treasury. It seems to have taken for ever to agree the terms of a policy that was announced in principle ages ago.

Jeremy Warner: Ferrovial's BAA nightmare

Outlook Ferrovial, the Spanish construction company, cannot claim it wasn't warned. Midway through its top-of-the-market bid for BAA, the Office of Fair Trading announced that it was conducting a competition inquiry into ownership of Britain's airports which could result in the company's eventual break-up. Ferrovial could have cited force majeure, and withdrawn. With the bravado of the matador, Rafael del Pino, Ferrovial's chairman, merely turned his back on the bull and bowed to the crowd. My god did that man have cojones.

Jeremy Warner: Out goes light touch, in comes the iron fist

Outlook As you would expect from McKinsey man, Lord Turner has done a masterful job in steering his way through the conflicting demands of the politicians for root-and-branch changes in the way banks are regulated and the need to preserve at least some elements of the free-market system.

Jeremy Warner: Unemployment surges higher

Outlook Mass unemployment is back, and this time it's serious. Yesterday's data puts the country on track to exceed the jobless totals of both the two previous recessions, at least in nominal terms, with some possibility that even in percentage terms the ranks of the unemployed will outstrip those of the early 1980s, when the jobless rate reached 12 per cent.

Jeremy Warner: Here's one approach to miscreant banks – just break them up

Outlook Time to bring back Glass-Steagall, the legislation introduced in the US in the 1930s to enforce a rigid separation between ordinary commercial banking and the fee-driven inventiveness of investment banking? I'm pleased to see that my once lonely campaign to reinstate this division, abandoned under the Clinton administration in the late 1990s, seems to be attracting a growing following.

Jeremy Warner: Bank Governor's reverse ferret may be wrong

Outlook Mervyn King, Governor of the Bank of England, is like the sinner who repents. Having been far too cautious in the early stages of the credit crunch when he was more concerned with the principles of moral hazard than saving the banking system, he now implicitly criticises our European neighbours for an insufficiently robust macro-economic response to the crisis. Looking at the latest shock forecasts from the International Monetary Fund, it is perhaps easy to see why Mr King has taken so wholeheartedly to throwing everything he has, including the kitchen sink, at the problem. The IMF is predicting a 3.8 per cent contraction in the UK economy this year, plus a bit more the year after. This would make us worse than any other advanced economic region other than Japan.

Jeremy Warner: America moves in on short sellers

Outlook It's the way with regulators. With perfect timing in July 2007 as the bull market was reaching its zenith, the US Securities & Exchange Commission abandoned the "uptick" rule, a measure originally introduced as far back as the Great Depression to limit the supposedly damaging consequences of speculative short selling.

Jeremy Warner: Is the Bank shooting at the wrong target in aiming at gilts?

Outlook Chocks away. The Bank of England's latest attempt to get us out of the present mess – quantitative easing – manoeuvred awkwardly on to the runway yesterday. The first "reverse auction" of gilt-edged stock, whereby banks and investment institutions are asked to tender UK government bonds to the Bank which then buys them with newly created cash, couldn't be counted as entirely successful.

Jeremy Warner: A mighty cull of billionaires

Outlook The annual Forbes billionaires list used to make dull old reading. Every year there would be more of them, until eventually they became so common that there hardly seemed any point in being one. Uncle Tom Cobley and all seemed to join this once exclusive club. But no more. The latest list, published today, reveals a shocking, credit-crunched, cull. Out go the likes of Sir Tom Hunter – was he ever one in the first place? – and Icap's Michael Spencer. There appear to be no new British additions at all, and even Sir Philip Green, the retail financier, has found his estimated fortune nearly halved to £4.8bn. Poor dear. Must be tough to rub along on so little.

Jeremy Warner: Remember the knights who were after HBOS?

Outlook One of the joys of financial crises is that they are great levellers. They make fools of even the most arrogant and pompous of financiers. So take heart from the two Scottish bankers who, puffed up with their own sense of self importance, who thought the Lloyds TSB takeover of HBOS such a bad deal for Scotland that they boldly announced they were drumming up financial support for a counter.

Jeremy Warner: Depression and the protectionist threat

Outlook Another grim set of manufacturing figures, with UK industrial production down a further 2.6 per cent in January, bringing its year-on-year fall to 11.4 per cent, has raised the question afresh of whether Britain should be following its European neighbours with root and branch aid and support for struggling manufacturers.

Jeremy Warner: Wolseley makes case for rights issue queue

Outlook: Bring back the "rights issue queue". The cry has gone up anew following the spectacle of Wolseley's £1bn share issue. The present glut of distress rights issues has forced the UK-based building supplies company into the most extraordinary contortions to secure desperately needed new equity funding.

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A report from the Association of Graduate Recruiters predicts a 17% rise in graduate job vacancies this year
Many of the students who graduated this summer are having great difficulty finding work and, as Amy Denman explains, it’s often down to not having the necessary work experience
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David Cameron is planning to revive the Communications Data Bill
His comments risk stoking the potent fear that immigrants are coming here and taking our jobs, says Ben Chu
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Howls of outrage would normally ensue, but the housebuilders have gotten away with it, says Russell Lynch
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Janet Yellen, chair of the Federal Reserve Board
The Federal Reserve has become a rogue hedge fund, taking massive, wildly speculative positions
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The Ummah Welfare Trust called on its supporters to boycott HSBC
Customer with Iranian links are being ditched by HSBC and others. They deny discrimination, but have hefty fines led to some banks being far too cautions? By Maria Tadeo
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'Political Ravishment - Or the Old Lady of Threadneedle Street in Danger!' from 1797 by James Gillray
Like Caesar’s wife, the Old Lady of Threadneedle Street is supposed to be above suspicion. But some members of Parliament have suspicious minds, writes Ben Chu
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Detroit’s once glorious and now decrepit Michigan Theater now operates as a car park
They forgot the motor city in the years of American urban renewal, but now JP Morgan is writing a $100m cheque to kickstart Detroit. Some doubt the bank’s motives
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Gerard Lopez took the wheel at the Lotus team five years ago with his business partner Eric Lux
He has investments ranging from real estate to Charlie Chaplin. But right now Gerard Lopez has Lotus on his mind
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Mark Carney lamented ‘remarkably weak’ pay growth at last week’s Inflation Report after claiming in May it could hit 2.5 per cent this year
The unprecedented collapse in real wages under the Coalition is even greater than in the period of the Great Recession from 2008 until the Coalition took office in May 2010, writes David Blanchflower
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Business editor James Ashton shares his top stories of the week
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Edi Truell wants to emulate the Ontario Teachers’ Pension Plan in boosting pension funds in London
What do rhinos and retirement funds have in common? The investor and deal maker Edi Truell has an interest in both, and many projects besides. Jamie Dunkley tries to keep up
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Whether King can bounce back depends on what it can pull out of the hat, but there are some worrying implications for the UK tech scene, says Toby Green
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Tidal Lagoon Power see the proposed structure as providing social space as well as producing energy
A seawall and 16 turbines in Swansea Bay could generate electricity for 120,000 homes, writes environment editor Tom Bawden
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A shopper poses on an enamel throne at the Luxury China exhibition in Beijing. The ‘golden age’ of China’s luxury consumption is over – but brands are recovering
High-end goods are starting to recover from the hangover of China’s assault on business ‘gifting’, says Laura Chesters . But the brands can no longer take their cachet for granted
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Peter Humphrey, the investigator hired by GlaxoSmith-Kline to investigate bribery allegations in China, has been jailed for two and a half years for breaching privacy laws
The trial of Peter Humphrey is no advert for China as a place for even fully upright foreign firms to do business, says Ben Chu
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Indian Prime Minister Narendra Modi speaks during the inauguration ceremony at Katra railway station in Katra
Interestingly, Mr Modi's desire for accountability and transparency did not extend to the BJP's coffers, says Satyajit Das
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Taking the bull by the horns: miners have been buying into beef to cater for a growing appetite in China
In Western Australia, industry giants such as Rio Tinto are turning increasingly to cattle farming as beef prices soar and iron ore goes the other way, Rebecca Keenan reports
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George Osborne
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Josephine Dickinson: 'How I discovered a new world of sound'

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Greggs Google fail: Was the bakery's response to its logo mishap a stroke of marketing genius?

Greggs gives lesson in crisis management

After a mishap with their logo, high street staple Greggs went viral this week. But, as Simon Usborne discovers, their social media response was anything but half baked
Matthew McConaughey has been singing the praises of bumbags (shame he doesn't know how to wear one)

Matthew McConaughey sings the praises of bumbags

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Flying fun: 7 best quadcopters and drones

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Joey Barton: ‘I’ve been guilty of getting a bit irate’

Joey Barton: ‘I’ve been guilty of getting a bit irate’

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Andy Murray: I quit while I’m ahead too often

Andy Murray: I quit while I’m ahead too often

British No 1 knows his consistency as well as his fitness needs working on as he prepares for the US Open after a ‘very, very up and down’ year
Ferguson: In the heartlands of America, a descent into madness

A descent into madness in America's heartlands

David Usborne arrived in Ferguson, Missouri to be greeted by a scene more redolent of Gaza and Afghanistan
BBC’s filming of raid at Sir Cliff’s home ‘may be result of corruption’

BBC faces corruption allegation over its Sir Cliff police raid coverage

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