All posts tagged: growth

Mishal Husain Bursts Jeremy Hunt’s Bubble Over Economic Growth

Mishal Husain Bursts Jeremy Hunt’s Bubble Over Economic Growth

Published by skeptic

[ad_1] Mishal Husain did not let Jeremy Hunt boast about the UK’s economic growth today and reminded him of the disasters the country has faced under the Tories. While the chancellor was celebrating the news from the ONS that the UK is officially out of recession, the Today programme host kicked off the interview by saying: “It’s not a strong recovery is it? “Some people would call it anaemic. You’re not calling it strong are you? “That’s not what it is. The economy has barely grown over the last two years.” Hunt claimed over the last quarter, the UK had the joint-highest growth in the G7– and then blamed slow growth on the Bank of England’s high interest rates. Husain hit back: “You’re portraying yourself as the people in whose hands the economy is safe, and yet many voters, particularly those who are perhaps finding themselves re-mortgaging this month on higher rates and seeing the facts that fixed rate mortgage deals have been edging up – and others – will be remembering what happened under …

Thursday Humor: What Is The Optimal Temperature For Global GDP Growth?

Thursday Humor: What Is The Optimal Temperature For Global GDP Growth?

Published by skeptic

[ad_1] Authored by Mike Shedlock via MishTalk.com, A group of climate alarmists have concluded that global GDP will be 23 percent lower on the current path. I was aware of the ridiculous article when it came out. I stopped reading when I noted that all countries were all given equal weighting. For example, Nigeria has the same weight as the US. The authors tried to mitigate this in various ways but it was obvious that the authors would bend the data and the report to match their goals. Today, I am pleased to present a complete and thorough trashing of the Nature article. Please consider Global Non-Linear Effect of Temperature on Economic Production: Comment on Burke, Hsiang, and Miguel by David Barker, emphasis mine. The journal Nature published an influential article in 2015 by Marshall Burke, Solomon M. Hsiang, and Edward Miguel (hereafter BHM) purporting to show that higher temperatures will lower economic growth in warm countries. The Web of Science reports that the paper is in the top six one hundredths of one percent of economics and business publications …

Product launch drives 78 per cent growth at Oxfordshire’s Eden Research

Product launch drives 78 per cent growth at Oxfordshire’s Eden Research

Published by skeptic

[ad_1] Biopesticide developer Eden Research has seen growth of 78 per cent for the year ended 31 December 2023, according to newly posted preliminary results. Based at Milton Park in Oxfordshire, Eden posted annual revenues of £3.2 million – up from £1.8 million a year prior – while cutting its operating losses by 27 per cent. The past year has seen the firm launch a new seed treatment product, Ecovelex, for which it’s secured temporary approval in Italy for use in the 2024 growing season. Eden also gained several new regulatory approvals in the US for its flagship biopesticides, Mevalone and Cedroz. Meanwhile, the firm has conducted ‘promising field trials’ for its upcoming insecticide. Discussions are ongoing with potential commercial partners. Lykele van der Broek, chair of Eden Research, said: “Eden made substantial progress against its strategic goals in 2023, including the launch of our innovative seed treatment product, Ecovelex. “Developed in less than four years, this is a groundbreaking moment for the business and a testament to the strength of Eden’s capabilities and commercial …

Reddit Posts 5 Million Loss Tied to I.P.O. but Also Strong Growth

Reddit Posts $575 Million Loss Tied to I.P.O. but Also Strong Growth

Published by skeptic

[ad_1] Reddit on Tuesday posted a more than $500 million quarterly loss in its first earnings report as a public company, largely due to stock-based compensation expenses incurred during its initial public offering in March. But the social media company also saw robust revenue and user growth, underscoring the potential of its digital advertising business as people flock to the site. Last month, Google, Meta and Snap also reported rising advertising sales and double-digit revenue growth. Reddit’s revenue was $243 million in the first quarter, up 48 percent from $163.7 million a year earlier and above Wall Street estimates of $214 million, according to data compiled by FactSet. The net loss was $575.1 million, compared with a loss of $60.9 million a year earlier. Stock-based compensation expenses totaled $595.5 million, versus $13.2 million a year earlier. Daily active users jumped to 82.7 million, up 37 percent from a year earlier. The result sent Reddit’s shares soaring 17 percent to $58 in after-hours trading. Steve Huffman, Reddit’s co-founder and chief executive, attributed the growth to the …

The Guardian view on Labour’s big idea: organising the state effectively matters for jobs and growth | Editorial

The Guardian view on Labour’s big idea: organising the state effectively matters for jobs and growth | Editorial

Published by skeptic

[ad_1] The Labour party has in mind new institutions that will capitalise future-facing industries, create good jobs and see Britain catch up with its peers. That is one message from Rachel Reeves’s speech. Her Labour colleague John Eatwell suggests she is inspired by Alexander Gerschenkron, whose seminal work concludes that the way the state was organised influences its ability to adopt income-enhancing technologies. Many of Labour’s proposals, such as Great British Energy, are welcome. But this column has been sceptical about whether they would meet the scale of the challenges Britain faces without substantial funding or effective mechanisms for socially directing investment. The Bank of England’s role remains particularly unsettling in shrinking the fiscal space available to ministers. Both the opposition and the government hide behind the Bank’s independence. However, MPs on the Treasury select committee raised concerns about whether it was playing a productive economic role this year. They warned that the rapid sale of bonds the Bank purchased through quantitative easing (QE) potentially had “worrying implications for public spending”. The parliamentarians have good …

House prices return to growth despite mortgage rates pain

House prices return to growth despite mortgage rates pain

Published by skeptic

[ad_1] Welcome to another week. UK markets are back in action today after the (wet) bank holiday weekend.  We will have the first quarter results from BP shortly, but first we have the latest data on house prices from mortgage lender Halifax. It showed that the average price of a home increased by 0.1pc between March and April to £288,949. 5 things to start your day  1) House prices to leap more than £60,000 over next five years | House price to rise more than £60,000 as interest rate pain eases 2) Labour will boost ‘appetite’ for London stock market, says City broker | Peel Hunt believes change of government will make UK investable again after a gloomy time for the stock market 3) Bud Light has promised to ‘stay in their lane’ after trans backlash | Brewer’s European boss has learned to keep contested issues away from beer 4) Royal Mail suitor Kretinsky is eyeing a bid for troubled French tech giant Atos | The “Czech Sphinx” is among the financiers vying to bail …

Where Is “Growth” Coming From? Fed Says Banks Tighten Credit Standards While Loan Demand Drops Further

Where Is “Growth” Coming From? Fed Says Banks Tighten Credit Standards While Loan Demand Drops Further

Published by skeptic

[ad_1] The first quarter Fed’s Senior Loan Officer Opinion Survey (SLOOS) – the one place where every three months investors go to find information on changes to both loan demand and bank lending tightness – was released and revealed more of the same: despite daily propaganda of economic improvement, the SLOOS found that more US banks reported stricter credit standards in the first quarter, while loan demand declined. As a reminder, without ease credit and without rising loan demand, it is virtually impossible for an economy – especially one that is as financialized as the US – to grow; and yet we are bombarded day after day with lies to the contrary. Taking a closer look at the SLOOS survey which was conducted between March 25 and April 8, we find that the net share of US banks that tightened standards on the all important C&I (commercial and industrial) loans for mid-sized and large businesses rose to 15.6% in the first three months of the year, from 14.5% in the fourth quarter. Other types of loans that …

Two emperors on the edge of two wars  – POLITICO

Two emperors on the edge of two wars  – POLITICO

Published by skeptic

[ad_1] Xi has repeatedly called Putin his best friend. He has also repeatedly refused to do anything to stop Russia’s full-scale invasion of Ukraine, and supplied dual-use military technologies, weapon-building components and satellite imagery, warns the U.S., to Russia.  In a recent interview with POLITICO, U.S. Ambassador to NATO Julianne Smith highlighted Beijing’s support for Moscow, saying that China could not proclaim to be neutral in the conflict any more. NATO Secretary General Jens Stoltenberg also described Chinese assistance as “[helping] Moscow to inflict more death and destruction on Ukraine.” Talking, not talking In Paris, Macron will provide Xi with his “analysis of developments in the conflict, and [will] convey Ukrainian positions,” the same Elysée official said. The French president “will also raise concerns about the activities of certain Chinese companies that could be directly involved in or contribute significantly to the Russian war effort.” There’s plenty of room for the two leaders to talk past each other.  “It’s going to be a mismatch of expectations,” said Abigaël Vasselier, head of foreign relations at MERICS, …

Job Growth Slows in April as Unemployment Rises and Wage Growth Moderates | Economy

Job Growth Slows in April as Unemployment Rises and Wage Growth Moderates | Economy

Published by skeptic

[ad_1] The long-awaited cooling in the labor market may have begun in April, as payrolls climbed by a weaker-than-expected 175,000, while the unemployment rate ticked up slightly to 3.9%. The number was below estimates of 240,000 and follows March’s 315,000 increase, revised upward from its original 303,000. Gains were strongest in health care, a sector that has dominated job growth this year, and in transportation and warehousing. The April number is unlikely to change the Federal Reserve’s posture on interest rates. The central bank is looking for the labor market to cool this year along with inflation that has proven more stubborn than expected. The Best Cartoons on the Economy On Wednesday, the Fed maintained interest rates at their high levels, leaving consumers facing the highest borrowing costs for car loans, credit cards and mortgages in more than two decades. But Fed Chairman Jerome Powell did say that it was “unlikely” the Fed would raise interest rates this year. “While fewer than expected job gains are rarely a welcomed sight, today’s report might be just …