Unit 4 - Global Economy
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Monetary Policy in the UK

 This is a recording of a revision webinar (May 2017) on monetary policy in the UK economy as we reach 20 years of Bank of England Independence.

There has been nearly a decade of ultra low policy interest rates and quantitative easing in the UK now exceeds £450 billion (or 20% of the annual level of GDP). Are low interest rates helping to sustain the recovery or creating deeper problems from side effects such as rising house prices and collapse in real returns for savers?

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Quantitative easing around the world: lessons from Japan, UK and US

Quantitative easing around the world: lessons from Japan, UK and US | Unit 4 - Global Economy | Scoop.it
The European Central Bank is poised to launch a €1tn round of QE on Thursday, years after other world central banks embarked on monetary stimulus
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How the PPI scandal unfolded

How the PPI scandal unfolded | Unit 4 - Global Economy | Scoop.it

Lloyds Banking Group's decision to set aside £3.2bn to compensate customers who were mis-sold payment protection insurance has exposed the full extent of a scandal dating back more than a decade.  Britain's banks have been aggressively selling 'ineffective and inefficient' – but highly profitable – payment protection insurance for more than a decade

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The Gig Economy - Revision Webinar

The labour market changes all the time but in the last decade we have seen a fast-evolving landscape of more people being engaged in gig work and many on short term or zero hours contracts.


Globalization, de-industrialisation, automation and digitization - all have had and continue to have a disruptive effect on traditional jobs and working practices in the UK.

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A2 Economics Revision Webinar: Economic Growth in the UK

tutor2u's Geoff Riley provides an exam-focused summary of the key issues relating to the UK's economic growth prospects.
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Euro Area Economic Outlook -Data, News & Forecasts

Euro Area Economic Outlook -Data, News & Forecasts | Unit 4 - Global Economy | Scoop.it

A very useful outline of the performance of the euro-zone economies

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Dashboard: Understanding the UK economy 

ONS produces a wide range of economic statistics, which will increasingly contain data periods which fall after the UK vote on EU membership that was held on 23 June. We have compiled this dashboard to aid understanding of the post-referendum economy.
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Raise Wages, Kill Jobs? Seven Decades of Historical Data Find No Correlation Between Minimum Wage Increases and Employment Levels

Raise Wages, Kill Jobs? Seven Decades of Historical Data Find No Correlation Between Minimum Wage Increases and Employment Levels | Unit 4 - Global Economy | Scoop.it
A summary of a report, which examines the historical data relating to the 22 increases in the federal minimum wage between 1938 and 2009 to determine whether or not the claims—that if you raise wages, you will lose jobs—can be substantiated. It examines employment trends before and after minimum-wage increases, looking both at the overall labour market and at key indicator sectors that are most affected by minimum-wage increases.
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Tesco boss: 'Food price inflation could be lethal for struggling millions'

Tesco boss: 'Food price inflation could be lethal for struggling millions' | Unit 4 - Global Economy | Scoop.it

Matt Davies points to damaging effect on economy, retailers, manufacturers and shoppers as data shows grocery deflation contracting.

Matt Davies said: “Everybody should be very, very clear how damaging food inflation is to the economy, to retail businesses and manufacturing businesses and how lethal it could be for millions of people struggling to live from week to week.”

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Don’t blame China for these global economic jitters- Ha-Joon Chang

Don’t blame China for these global economic jitters- Ha-Joon Chang | Unit 4 - Global Economy | Scoop.it
In truth the west failed to learn from the 2008 crash. Any economic ‘recovery’ was built on asset bubbles
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UK is magnet for highly educated EU migrants, research shows

UK is magnet for highly educated EU migrants, research shows | Unit 4 - Global Economy | Scoop.it
Study reveals that 62% of migrants from western Europe have a university degree, compared with 24% of British workforce
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2016 will be a year of living dangerously for the global economy

2016 will be a year of living dangerously for the global economy | Unit 4 - Global Economy | Scoop.it
As oil prices fall further, China slows and Brazil risks collapse, cracks will be papered over and the scene set for a new implosion
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Larry Elliott  makes predictions for what is going to happen in 2016.

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Monetary policy has an enormous impact on politics. It's time for a radical rethink | Fran Boait | Business | The Guardian

Monetary policy has an enormous impact on politics. It's time for a radical rethink | Fran Boait | Business | The Guardian | Unit 4 - Global Economy | Scoop.it
Theresa May knows monetary policy isn’t working. QE is increasing inequality, and low interest rates aren’t the solution
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HBOS: A highly unusual fraud case - BBC News

HBOS: A highly unusual fraud case - BBC News | Unit 4 - Global Economy | Scoop.it

he Halifax Bank of Scotland fraud trial is highly unusual in that senior bankers are convicted of crimes, including fraud and hiding the proceeds of crime, in the boom of irresponsible lending ahead of the 2008 crash.

The victims were the taxpayer, small business customers of the bank, and HBOS shareholders.

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Is this a case of market failure?
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Deutsche Bank: The World's Most Dangerous Bank?

Deutsche Bank: The World's Most Dangerous Bank? | Unit 4 - Global Economy | Scoop.it
Deutsche Bank is under the most pressure a major lender has faced since the financial crisis, but many trace its woes back beyond the banking crash.

Via Geoff Riley
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Geoff Riley's curator insight, October 1, 2016 2:30 AM
This article provides some of the historical backstory to the mounting problems of Deutsche Bank - a bank that appeared to have come out of the Global Financial Crisis in reasonable shape but which is now facing severe financial problems and the prospect of having to pay huge fines for the mis-selling of mortgage backed bonds. Too big to fail? The IMF has called Deutsche the world's most dangerous bank. Will the German government sanction a rescue package to limit some of the systemic risks of a bank failure in Europe's largest economy?
Bertie Duncan's curator insight, October 17, 2016 5:54 PM
This article provides some of the historical backstory to the mounting problems of Deutsche Bank - a bank that appeared to have come out of the Global Financial Crisis in reasonable shape but which is now facing severe financial problems and the prospect of having to pay huge fines for the mis-selling of mortgage backed bonds. Too big to fail? The IMF has called Deutsche the world's most dangerous bank. Will the German government sanction a rescue package to limit some of the systemic risks of a bank failure in Europe's largest economy?
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What is quantitative easing? - BBC News

What is quantitative easing? - BBC News | Unit 4 - Global Economy | Scoop.it
As the European Central Bank announces measures to stimulate flagging eurozone economies, we explain what quantitative easing involves.
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Five key factors that will decide when Bank of England raises interest rates

Five key factors that will decide when Bank of England raises interest rates | Unit 4 - Global Economy | Scoop.it
In a recovery that policymakers find hard to read, rates may, or may not, rise soon, depending on a complex matrix of indicators. By Larry Elliott
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It doesn't know when. It doesn't know by how much. And it doesn't know how quickly. But one thing the Bank of England is sure of is that, at some point, interest rates will be raised from 0.5%, their rock-bottom level of the past five-and-a-half years.

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HSBC files show how Swiss bank helped clients dodge taxes and hide millions

HSBC files show how Swiss bank helped clients dodge taxes and hide millions | Unit 4 - Global Economy | Scoop.it

HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files. Data in massive cache of leaked secret bank account files lift lid on questionable practices at subsidiary of one of world’s biggest financial institutions

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Turkey’s shopping mall boom going bust

Turkey’s shopping mall boom going bust | Unit 4 - Global Economy | Scoop.it
Turkey’s shopping mall boom has been hit by economic problems stemming from the lira's decline against the dollar and poor planning.
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Economic review 2017

Economic review 2017 | Unit 4 - Global Economy | Scoop.it
An analysis of international economic statistics and the main economic stories from UK national statistics produced over the latest quarter.
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The Bank of England fears it may not spot the next crisis. Here’s where to look

The Bank of England fears it may not spot the next crisis. Here’s where to look | Unit 4 - Global Economy | Scoop.it

After MPC member Gertan Vlieghe had the temerity to suggest that the Bank of England might still struggle to see the source of the next financial crisis, Phillip Inman has stepped in to help. He identifies five areas that might trigger any future slump: the stock market, unsecured debt, the housing market, a Chinese slowdown and the US Federal reserve

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Refugees turned entrepreneurs: ‘I needed to think about the future’

Refugees turned entrepreneurs: ‘I needed to think about the future’ | Unit 4 - Global Economy | Scoop.it
Founders who escaped war in their home countries describe their routes to enterprise, each requiring a healthy dose of hard work and perseverance
Antonis Antoniou's insight:
A splendid article. Very good reference for Theme 4 Impact of  Immigration and Theme 3 -Growth of Firms
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On immigration

On immigration | Unit 4 - Global Economy | Scoop.it
On immigration -by Nigel Harris professor emeritus of Economics at the University College London

Sometime in the 1990s, Britain ran out of workers. Or, more precisely, the faster the economy grew, the greater became the shortage of workers with the right skills. It seems the problem will get worse - the livelihood of those who live here will increasingly depend on recruiting complementary workers abroad. 

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Migration can help to forge a more prosperous world, says World Bank

Migration can help to forge a more prosperous world, says World Bank | Unit 4 - Global Economy | Scoop.it

Movement of people from poor to rich countries could drive economic growth and boost battle against global poverty, claims World Bank chief Jim Yong Kim.

 The large-scale migration of people from poor countries to richer ones will “reshape economic development for decades” but could help end extreme poverty and increase global prosperity if the flow is properly harnessed and regulated, according to the World Bank.

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