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: 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 Ferrovial could have cited force majeure, and withdrawn.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: 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: 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: 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: 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: 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: 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.

News
Russian President Vladimir Putin speaks during his annual press conference in Moscow
News
Bankers who reach the dizzy heights of partnership status at Goldman Sachs achieve legendary status in the bank’s London office
Exclusive: Being a partner at the bank has an almost mythological status, and an internal memo seen by Jim Armitage shows the qualities needed to make it - like charging a pension fund $70m
News
Rocket Internet’s founder Oliver Samwer, centre, with the incubator’s chief executive and finance director when it listed in October
The German-based start-up factory has churned out more than 100 businesses in recent years. And now it’s looking to replicate its success here, says Oscar Williams-Grut
News
We are not facing anything like as grave a crisis as we have twice in the past decade, says Hamish McRae
News
The rouble staged a brief recovery yesterday before resuming its slide
A massive central bank interest rate hike failed to support the rouble. This crisis is slipping out of Moscow’s control, says Ben Chu
Voices
Ringing the changes: BT has come a long way since the days of the General Post Office
BT's basic business of running wires into homes and businesses is hugely profitable, writes Hamish McRae
News
Satyajit Das: Donors are free to channel funds to their chosen causes, some noble, some hubristic and some just plain odd
News
The Uber app allows passengers to hail a taxi with a smartphone
Uber facing down the cabbies by recruiting lobbyists to push for law changes, says Oscar Williams-Grut
News
VIDEO City analysts sound the alarm over the upcoming Premier League rights auction as shares in TV giant slide
News
Self-employment is particularly important in construction
Self-employment conveys considerable risks: many lose their jobs, their houses, and even their marriages, writes David Blanchflower
News
Mark Carney inside the Bank of England in Threadneedle Street, London
The charismatic Canadian is now 18 months into his stint as Governor of the Bank of England. So how does he think he’s doing? James Ashton catches up with Carney
News
Gucci’s spring/summer 2015 collection was launched in Milan in September
The power couple who ran Gucci have gone, and in comes an insider charged with making the designer label even more exclusive says Laura Chesters
News
The final curtain is calling for theatrical performances on tax avoidance. Now it’s time to see if big accountants, clever multinationals and Britain’s blue chips can adapt to the emerging tax system, says Mark Leftly
News
The Ferrari factory in Maranello churns out cars whose high-end credentials could be diluted by the diversification championed by chairman Sergio Marchionne
As the Italian marque prepares to float, it is also ‘fleeing to London’ and putting its famous badge on products such as netbooks. Sean O’Grady asks if it risks losing its cachet
News
Retail billionaire has confounded many in the square mile with his leftfield moves and kept the entire retail sector guessing hinting at new shares bets
News
Twitter could be used to improve public services, just as it does private
More than 300 million people around the world reckoned to be using photo app
News
At the moment that possibilityof default is discounted by the markets, but if it were to occur, the plight of Greece would become an issue for Europe as a whole.
News
Alan Rusbridger is to let a ‘younger pair of hands take over the reins’
Under Alan Rusbridger, the loss-making paper spent fortunes on the web and won a Pulitzer. After 20 years, he is stepping down.
News
The FCA has imposed £1.1bn in fines on five banks over forex trading practices
Video: The Independent's Jim Armitage takes a closer look at damning report criticising the FCA's for botched report which ended up costing some of the country's biggest insurers billions of pounds
News
Twitter could be used to improve public services, just as it does private
The pressure will be on the next government to use this extraordinarily powerful tool, says Hamish McRae
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