Editorial

November 16, 2016

The science of Brexit behaviour

It became clear last week that not only was the political world turned upside down, but so also was the way it was analysed and reported. In particular, polling predictions were yet…

November 9, 2016

Trump means Trump

The result was due in the early hours of Wednesday morning in the UK. It took longer to become definitive. At 7:40am Hillary Clinton conceded defeat and Donald Trump exceeded expectations, except…

October 26, 2016

Should they stay or should they go?

Editorial Each morning bankers, analysts, manufacturers and their assorted intermediaries will be scratching their heads and sifting through news reports for clues as to what a Brexit outcome might look like. Should…

Speaker says US House will vote on foreign aid
Speaker Mike Johnson said that he planned to advance a long-stalled national security spending package this week to aid Israel, Ukraine and other US allies, coupled with a bill to mollify conservatives opposed to backing Kyiv. Johnson, a Republican, has agonized for weeks over whether and how to advance critical aid for Ukraine over stiff resistance from the far-right faction of his conference. His announcement was the first concrete indication that he had chosen a path forward. That path appears complex. Johnson said he would cobble together a legislative package that roughly mirrors the $95 billion aid bill the Senate passed two months ago, albeit in pieces. Lawmakers would vote separately on aid for Israel, Ukraine and allies like Taiwan, and then on another measure containing policies popular among Republicans. It is not clear whether the convoluted strategy will succeed in the House, where Johnson has a tenuous hold on his caucus and a slim majority. New York Times, April 16

Israeli war cabinet meets for third day on Iranian attack
Israel’s war cabinet is to meet later on Tuesday for a third straight day to consider its response to Iran’s weekend attack, as international pressure mounts on the Jewish state to show restraint and avoid triggering a full-blown Middle East conflict. The five-person war cabinet has already discussed possible responses including military and diplomatic options, one Israeli government official said, while taking into account US concerns that any action should “not be over the top”. However, the person added, Israel was determined to respond to what it saw as an unprecedented Iranian attack, which included more than 300 missiles and drones launched from Iranian territory at the Jewish state late on Saturday night. “The intent is to send a painful message to Iran. This can’t be something cosmetic,” the person said, adding that in order to be effective the response had to be carried out “in close proximity” to the Iranian attack. Financial Times, April 16

Middle East, world cannot ‘afford more war’, says UN chief Guterres
“Neither the region nor the world can afford more war,” UN Secretary-General Antonio Guterres warned on Sunday, calling for “maximum restraint” as the Security Council met to discuss Iran’ s weekend attack on Israel. The announcement came as Israel hailed its defence capabilities, with the military saying that 99 percent of some 300 drones and missiles launched by Iran were intercepted. The Council met after Israel requested the council condemn Iran’s attack and designate the Iranian Revolutionary Guard Corps as a terrorist organisation. France 24, April 15

Undersea ‘hybrid warfare’ threatens security of 1bn, Nato commander warns
The security of nearly 1 billion people across Europe and North America is under threat from Russian attempts to target the extensive vulnerabilities of underwater infrastructure including windfarms, pipelines and power cables, a Nato commander has warned. Vice Admiral Didier Maleterre, the deputy commander of Nato’s Allied Maritime Command, said the network of underwater cables and pipes on which Europe’s power and communications depend were not built to withstand the “hybrid warfare” being pursued by Moscow and other Nato adversaries. “We know the Russians have developed a lot of hybrid warfare under the sea to disrupt the European economy, through cables, internet cables, pipelines. All of our economy under the sea is under threat,” he said. “And, to be very clear, we know what Russians have developed as far as nuclear submarines to operate under the sea. So, we are not naive and we [Nato countries] are working together.” The Guardian, April 16

Unemployment jumps as UK jobs market stalls
The UK jobs market is showing signs of stalling as the number of people out of work rose, according to new figures. The unemployment rate increased to 4.2 per cent between December and February, which is the highest level for six months. Meanwhile, the rate of people with a job dipped and the economically inactive - those not in work or looking for employment - ticked higher. Economists suggested the data could spur the Bank of England to cut interests rates in the summer. “With employment falling sharply and the unemployment rate climbing, we suspect wage growth will continue to ease in the coming months,” said Paul Dales, chief UK economist at Capital Economics. “That may allow the Bank to cut interest rates in June.” Yael Selfin, chief economist at KPMG UK, added: “Easing pressure in the labour market keeps the Bank on track for a summer rate cut.” The Office for National Statistics said there are “tentative signs that the jobs market is beginning to cool”. BBC news, April 16

Bras boost health and should not come under VAT, say radiographers
Bras should not be burnt, but subsidised, according to the Society of Radiographers, which will argue at its conference on Tuesday that the move could improve women’s health. Where feminists of the past shunned the oppression that a bra represented, healthcare professionals of the present believe that underwear should be classed as a necessity and not be subject to VAT. “The imposition of VAT on bras disproportionately affects women. Taxing bras could be considered discriminatory as per the Equality Act, 2010,” delegates are expected to argue during the society’s three-day annual conference in Leeds. Women who have had surgery for breast cancer, whether it be a full or partial mastectomy or a lumpectomy, are exempt from VAT when buying certain bras. The Times, April 16

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Editorial

The science of Brexit behaviour

Trump means Trump

Should they stay or should they go?