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Toyota Reaches $1.2 Billion Settlement in Criminal Inquiry

Toyota Reaches $1.2 Billion Settlement in Criminal Inquiry | Economics | Scoop.it
A deal with the Justice Department over a sudden-acceleration defect that has caused injuries and deaths included an unusual admission of wrongdoing.
Joe Davis-Elkington's insight:
regulatory capture
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Bill Gates: People Don't Realize How Many Jobs Will Soon Be Replaced By Software Bots

Bill Gates: People Don't Realize How Many Jobs Will Soon Be Replaced By Software Bots | Economics | Scoop.it
Bill Gates believes that within 20 years a lot of jobs will be replaced by software.
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T-Mobile Turns an Industry on Its Ear

T-Mobile Turns an Industry on Its Ear | Economics | Scoop.it
The fourth-ranking carrier blew up the rules on smartphones and wireless contracts, to the benefit of many consumers.
Joe Davis-Elkington's insight:

The US government decision to refuse a merger between AT & T and T Mobile has greatly benefited the consumer

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Google Gets More Guarded About Acquisition Numbers

Google Gets More Guarded About Acquisition Numbers | Economics | Scoop.it
Google is becoming more secretive about its acquisitions as the Internet company hunts for promising innovations and engineering talent to help shape the future of technology. The subtle change surfaced this week in Google's 2013 annual report. Google Inc. didn't quantify the total number...
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Swiss voters reject high-pay initiative

Swiss voters reject high-pay initiative | Economics | Scoop.it
Switzerland stepped back from a movement to control corporate pay levels, overwhelmingly rejecting an initiative that would have restricted executive salaries to 12 times that of the lowest paid employee.
Joe Davis-Elkington's insight:

The Swiss have rejected a proposal to limit inequality, arguing that capping executive pay would deter business investment and wealth creation. It would also reduce incentives for workers.

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Mr Jones's curator insight, November 29, 2013 4:19 AM

Executive pay and what might be done about it (if anything) is just as big an issue in the UK.

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EU steps up WTO dispute with Russian over car levy | Reuters

EU steps up WTO dispute with Russian over car levy | Reuters | Economics | Scoop.it
BRUSSELS (Reuters) - The European Union asked the World Trade Organization (WTO) on Thursday to rule on the legality of a recycling fee Russia imposes on imported cars, stepping up a trade dispute between...
Joe Davis-Elkington's insight:

Russia only joined the WTO organisation 1 year ago, and it seems to be wanting the best of both worlds; protecting their own industry whilst benefiting from increased free trade with the EU. Clearly the EU will have problems with them trying to do this.

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Mr Jones's curator insight, October 29, 2013 11:44 AM

WTO 'rules' again a key issue.  If membership implies that certain forms of protection are off limits is it a surprise that governments look to protect in other ways?

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What does China own in Britain?

What does China own in Britain? | Economics | Scoop.it
China has a lot of money to invest, but how much of it comes into Britain and what is it spent on?
Joe Davis-Elkington's insight:

Interesting article about Chinese FDI into the UK

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Asia Times: Chinese enjoy higher standard of living

Asia Times: Chinese enjoy higher standard of living | Economics | Scoop.it
Joe Davis-Elkington's insight:

For every negative externality generated by economic growth there are far more positives. In rural areas, which have supposedly been left behind, 800 million people are better off.

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U.K. Utility Shares Fall After Pledge to Freeze Rates

U.K. Utility Shares Fall After Pledge to Freeze Rates | Economics | Scoop.it
The head of Britain’s opposition Labour Party said that if his party won the election in 2015, it would freeze gas and electric rates for two years.
Joe Davis-Elkington's insight:

The problem with government intervention into markets. Milibands idea to freeze gas and electricity prices will put off FDI and prevent the expansion of UKs power capacity.

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Joe Davis-Elkington's comment, September 26, 2013 3:53 PM
Whilst I agree with Miliband that something needs to be done to ease pressure for homeowners, surely it would be better to subsidise gas and electricity for the most needy, or offer tax incentives to green energy suppliers, which wouldn't deter FDI.
Steve Hutchinson's comment, September 26, 2013 4:32 PM
many would argue that subsidising energy for the needy would cost far too much money for the gov't if it was going to have a positive effect. Tax breaks to green energy suppliers would also need to be substantial considering the high cost of producing such energy. Great in theory, not so much in practice.
Joe Davis-Elkington's comment, September 27, 2013 5:37 AM
so instead its better to deter further FDI and prevent the expansion of our energy sector?
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Detroit in largest US bankruptcy

Detroit in largest US bankruptcy | Economics | Scoop.it
The city of Detroit files the largest-ever US municipal bankruptcy, with debts of at least $15bn, following decades of problems linked to industrial decline.
Joe Davis-Elkington's insight:

Like in the West Midlands, the car industry in Detroit went bust. This lead to high unemployment and people moved out, adding to further urban and economic decline. The city is unable to support it's services due to a small and very poor tax base, and has had to file for bankrupcy. 

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Steve Hutchinson's comment, September 26, 2013 2:13 PM
If only the government was there to regulate the banks- many people in Detroit were given sub-prime mortgages that they could not pay back. Houses became boarded up, shops were deserted and the town became bankrupt. A consequence of a lack of gov't intervention.
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Tesla versus the Rent Seekers

Tesla versus the Rent Seekers | Economics | Scoop.it
The NYTimes has a very bad article on Tesla and auto dealer franchise laws. The worst bit is this mind blowing contradiction: …most states have some limits on direct sales by auto manufacturers…These rules are generally meant to ensure competition, […]
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k0pv0.jpg (2400x1507 pixels)

k0pv0.jpg (2400x1507 pixels) | Economics | Scoop.it
Joe Davis-Elkington's insight:

"The illusion of choice" graphic. Power of oligopolies

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Energy firms told to hand back £400m

Energy firms told to hand back £400m | Economics | Scoop.it
Energy regulator Ofgem has told the "big six" suppliers to hand back more than £400m of credit in customer's closed accounts.
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Goldman Sachs thinks the best mergers are ones that create oligopolies

Goldman Sachs thinks the best mergers are ones that create oligopolies | Economics | Scoop.it
Who says mergers and acquisitions can't create value? Despite critics of M&A activity, who complain that mergers are often risky, unproductive and destined to fail, Goldman Sachs argues in a recent research note to clients that the best M&A creates a near-oligopoly, and that should be the bank's goal. Goldman analysts argue that oligopolies—you know, the...
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World’s 100 richest earned enough in 2012 to end global poverty 4 times over

World’s 100 richest earned enough in 2012 to end global poverty 4 times over | Economics | Scoop.it
The world's 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide four times over, Oxfam has revealed, adding that the global economic crisis is further enriching the super-rich.
Joe Davis-Elkington's insight:

is this fair?  a fraction of what the super rich earnt could end poverty, shoulf governments do more about this?

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India pushes to change WTO subsidy rules so it can stockpile food

India pushes to change WTO subsidy rules so it can stockpile food | Economics | Scoop.it
India says paying farmers higher prices will help boost food security, but critics say it will hurt poor producers elsewhere
Joe Davis-Elkington's insight:

India argues that their farmers need to be protected, which is against WTO regulation. 

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Paid like surgeons: 240k a year Rio Tinto train drivers to be replaced by robots

Paid like surgeons: 240k a year Rio Tinto train drivers to be replaced by robots | Economics | Scoop.it
Train drivers employed by Rio Tinto Group to haul iron ore across Australia's outback make about the same money as surgeons in the US. It's little wonder the mining company will replace them with robot locomotives.
Joe Davis-Elkington's insight:

The next phase of structural change?

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How the US-UK special relationship is cemented in deep economic ties

How the US-UK special relationship is cemented in deep economic ties | Economics | Scoop.it
Emma Watkins reveals some surprising facts about the extent of British investment across the Atlantic
Joe Davis-Elkington's insight:

17% of America's FDI comes from the UK, which supports 880,000 jobs and a significant proportion of the US economy.

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Miliband’s U.K. Utility Breakup Plan Threatens Investment

Miliband’s U.K. Utility Breakup Plan Threatens Investment | Economics | Scoop.it
Britain’s business lobby groups said the Labour opposition’s proposal to break up the “Big Six” utilities and cap power prices threatens the investment needed to avoid blackouts by the end of the decade.
Joe Davis-Elkington's insight:

Miliband's idea to put a freeze on gas and electricity prices may be well intentioned but threatens future foreign investment into the UK. The foreign investors who own many UK power companies will be less enthusiastic about investing further in their UK operations.

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