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How the economy evades every crisis

How the economy evades every crisis

Economist10 hours ago
After Adolf Hitler's troops rolled into France in 1940, many feared the imminent destruction of Europe and its economy. British investors did not. In the year following the invasion, London's stockmarket rose; indeed, by the end of hostilities, British companies had delivered real returns to shareholders of 100%. The plucky investors must have seemed mad at the time, but they were proved right and made handsome profits.
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Trump says he will meet Starmer in Scotland visit, expects trade talks
Trump says he will meet Starmer in Scotland visit, expects trade talks

Reuters

time2 hours ago

  • Reuters

Trump says he will meet Starmer in Scotland visit, expects trade talks

WASHINGTON, July 15 (Reuters) - President Donald Trump said on Tuesday he expects to meet with British Prime Minister Keir Starmer in Aberdeen, Scotland, later this month to refine a U.S.-British trade deal. A White House official said Trump plans to visit his golf properties in Scotland late this month, recreating a trip he made in 2016 during his first run for the presidency. Trump plans to visit both his Turnberry and Aberdeen golf properties on a trip expected to last from July 25-29, the official said, speaking on condition of anonymity. Asked by reporters about the trip, Trump said he is set to meet Starmer on the trip. He and Starmer announced a deal on June 16 on the sidelines of the G7 Summit in Canada that reaffirmed quotas and tariff rates on British automobiles and eliminated tariffs on the U.K. aerospace sector. But the issue of steel and aluminum remains unresolved. "We are going to have a meeting with him, probably in Aberdeen. And we're going to do a lot of different things, also refine the trade deal that we've made," Trump said. Trump visited both golf courses during his successful run for a first term in 2016, using the opportunity to praise Britain's "Brexit" vote to part ways with the European Union. As he toured the grounds at Turnberry then, he was accompanied by bagpipers in kilts. The Turnberry course on the west coast of Scotland has been the site of the Open Championship four times, the last one being in 2009. Trump bought it in 2014. The Republican president will make a state visit to Britain September 17-19 as the guest of King Charles at Windsor Castle. The late Queen Elizabeth had welcomed Trump to Buckingham Palace for a three-day state visit in June 2019 during his first term in office, during which he had a private lunch with the sovereign and had tea with Charles, who was then heir.

Liverpool's ambitious move for Isak can keep Man Utd off their perch once and for all… Fergie would have done the same
Liverpool's ambitious move for Isak can keep Man Utd off their perch once and for all… Fergie would have done the same

Scottish Sun

time5 hours ago

  • Scottish Sun

Liverpool's ambitious move for Isak can keep Man Utd off their perch once and for all… Fergie would have done the same

THREE decades of looking enviously at Manchester United's dominance clearly brought home the critical lessons to Liverpool. Having toppled the Anfield side off their 'perch', Sir Alex Ferguson set about establishing his own empire. 8 Arne Slot could lead Liverpool into a new dynasty Credit: Getty 8 The club want to add Newcastle star Alexander Isak to their squad Credit: Getty 8 Liverpool could knock Manchester United off the perch that Sir Alex Ferguson made for them Credit: Getty That meant never resting on their laurels — enjoy the moment, celebrate, then start again, making the changes needed to refresh and improve. If that means upsetting some of your players, so be it. The club comes first. And while Arne Slot won his first Prem crown by just tweaking the framework he had inherited from Jurgen Klopp, Liverpool's willingness to smash the British transfer record and bring Alexander Isak to Merseyside for £120million is the clearest signal that the Dutchman is looking to create something permanent. The move for Swedish star Isak, 25, is more than an isolated push in a summer of treading water. Instead, it is Slot laying out his cards. Winning the title was great. But it is only the beginning of his ambitions. With nearly a month to go before the start of the new season and Liverpool's team to face Bournemouth on August 15 could show four changes from Slot's first XI last term. Slot's fellow Dutchman Jeremie Frimpong was recruited from Bayer Leverkusen for £29.5m to fill the void left by Trent Alexander-Arnold's decision to move to Real Madrid. But the other transfer targets were about building something even better from a position of strength. Andy Robertson was a Klopp mainstay for seven trophy-stacked seasons but the Scot has started to look increasingly vulnerable. CASINO SPECIAL - BEST CASINO BONUSES FROM £10 DEPOSITS Slot suggested Robertson's disrupted pre-season last summer was a factor but appeared to have signed his immediate replacement, bagging Milos Kerkez from Bournemouth for £40m. And while the midfield trio of Ryan Gravenberch, Alexis Mac Allister and Dominik Szoboszlai brought far more control and poise in the engine room than for much of the Klopp era, Slot wanted to upgrade his options. Darwin Nunez performs tragic Liverpool team-mate Diogo Jota's celebration after scoring in first game since his death He did that when Liverpool saw off Bayern Munich to lure Frimpong's Leverkusen club-mate Florian Wirtz, with just a little matter of £100m up front, plus up to £16.5m in add-ons. Now, with many inside and outside the club still mourning the tragic loss of Diogo Jota — something that, naturally, will long cast a shadow over the dressing room — Slot is thinking ahead once more. His interest in Isak has never exactly been hidden, although it appeared Newcastle, desperate to hang on to their attacking talisman, had held off Liverpool's desire to land him. But by making a direct approach now, with Isak all too aware that Liverpool are serious about getting him on board, the Anfield chief is showing he believes the title win was just the beginning. 8 8 TRANSFER NEWS LIVE - KEEP UP WITH ALL THE LATEST FROM A BUSY SUMMER WINDOW It is exactly what Fergie would have done, too. Remember how back-to-back crowns were followed by the shock of losing the title to Blackburn in 1995. Out went stalwarts Paul Ince, Mark Hughes and Andrei Kanchelskis. In came Beckham, Scholes, Butt and the Neville brothers, the Class of 92. It was a pattern that continued. Win then refresh. A pattern that helped Ferguson secure 13 Prem titles in the space of 21 seasons. All while Liverpool, who had been the ones to beat for so long, were suffering a title drought and only managed to finish second twice. Now, with the boot firmly on the other foot, it is Liverpool who are utilising their advantages — just as they always did in those glory days of the 70s and 80s. There may be more to come, too. Slot's signings are eye-catching but he has brought in nearly £56m from the departures of Alexander-Arnold, Jarell Quansah, Caoimhin Kelleher and Nat Phillips, with more to come if Darwin Nunez and Luis Diaz go. With Madrid eyeing a move next summer for potentially out-of-contract Ibrahima Konate, the Reds have not given up on Marc Guehi at Crystal Palace. Isak, though, would be the icing on their cake. A line-leader who would offer a constant goal threat, able to hold the ball up and run in behind, and still not even entering his prime years. Keeping hold of Virgil van Dijk and Mo Salah was Slot, making them believe last term was the launchpad. What he has done since is already looking like he could finally put Liverpool right back on that perch. 8 Man United last won the league in 2011 Credit: Action Images - Reuters 8 Ferguson won the title 13 times during his illustrious reign Credit: PA:Press Association

Glasgow Village hotel members overwhelmingly back strike
Glasgow Village hotel members overwhelmingly back strike

Glasgow Times

time6 hours ago

  • Glasgow Times

Glasgow Village hotel members overwhelmingly back strike

Workers at the Village Hotel in Glasgow were balloted on industrial action after bosses refused to negotiate with union Unite on paid breaks, the real living wage, and pay equality with the Edinburgh venue. It is understood that 100% of workers backed the strike on a turnout of 82%. Workers at Village Glasgow are demanding equal pay at the real living wage of £12.60 per hour, paid breaks, and addressing a disparity between what under-21 workers are paid in Edinburgh compared to Glasgow. READ NEXT: Glasgow residents 'vindicated' as council make this move over drug problem READ NEXT: March in Glasgow this month set to be met with counter protest When the issues were raised with the company it said it had 'no plans' to pay the real living wage or introduce paid breaks, which it said was in line with practices across the hospitality sector. In addition, the company said it had already carried out an internal grievance investigation into the pay disparity with Edinburgh which concluded that the higher rate of pay in the capital was due to the higher cost of living. An email sent to staff pointed to existing employee benefits such as gym and spa memberships, discounted hotel rooms and high street shopping discounts and said raising wages and paying for breaks was not "financially achievable" without it "adversely impacting on our ability to provide these other benefits". The strike is believed to be the first in a major British hotel chain in over 40 years. Bryan Simpson, National Lead for Unite Hospitality said: 'Our members at the Village Hotel in Glasgow have just delivered a resounding and historic vote in favour of strike action, giving them a clear legal mandate to shut down the most profitable parts of the company's flagship site. 'The ball is now with Village Hotels senior management. If they want to avoid the first hotel strike in nearly half a century, they must return to the negotiating table with a meaningful offer - one that includes equal pay, the real living wage, and paid breaks.' Village Hotel Club has been contacted for comment.

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