China halts yuan devaluation with slight official rise against US dollar
Central bank moves to ease uncertainty around currency on global markets after cutting exchange rate for three days running Related: China’s economic mandarins are proving to be human after all China’s central bank has raised the value of the yuan against the US dollar by 0.05%, ending three days of falls in a surprise series of devaluations. […]
Asda raises price paid to dairy farmer as value of milk sales plummets
Volume of milk sales is rising steadily but its shrinking value to farmers backs claims that supermarkets are using milk as a weapon in a price war Asda has caved in to pressure from dairy farmers and raised the price it pays its milk supplier, as figures show that sales of fresh milk in Britain […]
European Union backs IMF view over Greece – then ignores it
Greece needs serious debt relief, not token measures: it is about time lenders accepted that piecemeal measures are pointless when debt ratios reach 200% The good news for the International Monetary Fund, which has been saying for ages that Greece’s debts are unsustainable, is that European lenders now seem to agree. There are “serious concerns” […]
Kipper Williams on the milk price row
Sales of milk are rising steadily but the value of sales to farmers is falling fast Continue reading… Source: The Guardian Circular Economy RSS
Where to see Frank Lloyd Wright’s rare, world-renowned Wasmuth portfolio
The lithographic work of the iconic American architect is on display at SC Johnson in Racine, Wisconsin Fans of American architecture have a new way to see the work of Frank Lloyd Wright. Wright’s Wasmuth lithograph design portfolio, a collection of commercial and residential lithograph prints of his most famous works is on exhibit at […]
Popping to Panama? Emirates plans world's longest nonstop flight
Airline plans back-stiffening 17-hour and 35-minute shuttle from Dubai to new Central American gateway at Panama City Continue reading… Source: The Guardian Circular Economy RSS
China's economic mandarins are proving to be human after all
Recent attempts to fine-tune the economy, devalue the yuan or cool the stock market have proved ham-fisted and misguided The economic wizards of Beijing have feet of clay after all. That’s the growing sense after China’s currency fell for a third day and the deputy governor of its central bank was forced to hold a […]
Greece's creditors air 'serious concerns' about sustainability of debt – live
But Greece’s European creditors see no need for debt write-off Greece bounces back with 0.8% growth in Q2 Greek parliament holds emergency session to ratify €85bn bailout European stock markets rally after China’s yuan pledge Germany open to debt relief for Greece, but no haircut 5.02pm BST Much of the early gains made by stock […]
Greece crisis proves the need for a currency Plan B
Introducing an alternative currency is not particularly difficult as long as the fundamentals of currency design are understood by its architects The recent Greek capitulation under pressure from other euro member countries, led by Germany, demonstrates that euro members have de facto ceded sovereignty over fiscal policy to the EU. While this arrangement may be […]
Npower profits plunge 60% amid ongoing billing problems
Long-running billing controversy, customer complaints and Ofgem intervention hurts profits Profits at npower have tumbled 60% as it struggles with billing problems which have sent customer complaints soaring. Many customers have been receiving late bills or no bills at all, since npower introduced a new billing system in 2013. Continue reading… Source: The Guardian Circular […]