Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’
The markets are tumbling. Investors are bailing out. And there are already fears that the plunge in equities is a sign that a recession is just around the corner in America. With a presidential election only a few months away, the Federal Reserve will come under intense pressure to bail out the market with a
The bubble in artificial intelligence stocks has started to pop, two decades of easy money in Japan have finally started to come to an end, and (after hitting all-time highs) share values are being reassessed. There are plenty of plausible explanations for the sudden plunge in stock markets around the world over the last few
No one ever accused Donald Trump of ideological consistency. And yet, even by the standards of a man who often seems capable of switching positions several times in the same speech, and sometimes in the same sentence, it is quite a turnaround. As president he condemned Bitcoin and other crypto currencies ‘a scam against the
It doesn’t buy anything anymore. It is not enough to put into a charity box, and it just takes up space in your pocket or a purse. On one level, it will save us all a lot of trouble when one penny and two penny coins finally become extinct. The Treasury has told the Royal
Liz Kendall wants Britain to get back to work. The Work and Pensions Secretary has unveiled a target for the country to reach an 80 per cent employment rate. But hold on: that ‘ambition’, as the government is calling it, is completely unrealistic. Labour’s plan to reverse the dire labour market and drive up Britain’s employment
The Green New Deal will be watered down. There will be a drive to roll back rules and regulations. And there will be far tougher control of the borders. The President of the European Commission Ursula von der Leyen secured the support of the bloc’s parliament today by promising a radical overhaul of the policies
It might seem like smart politics. And it will reassure the markets. The legislation in the King’s Speech today to ensure all Budgets are assessed by the Office for Budget Responsibility (OBR) no doubt seems like a good idea right now. And yet, there is a catch. The incoming Labour government has now completed the
A major new factory from one of the American tech giants perhaps? Or a new lab from one of the pharmaceutical giants? Or, best of all, a huge new green energy fund. The newly appointed Chancellor Rachel Reeves was probably hoping for some positive investment news for her first week in office, especially as she
Rishi Sunak’s bags are probably packed. The plane tickets are booked. And no doubt he has found somewhere for the family to stay while they look for a permanent home. It is widely assumed that, having lost the election, Sunak will soon disappear to Silicon Valley as quickly as possible to restart his career. But
The Paris stock market is soaring. French bonds are rising once again, and the banks are suddenly looking a lot healthier. As the results of the French elections came through overnight, and it looked less likely that Marine Le Pen’s National Rally would have enough votes to form a government by itself, investors started to
If you didn’t have time to watch the presidential debate between Donald Trump and Joe Biden last night you could have just watched the share price of a little-known Chinese company called Wisesoft instead. Its Chinese name ‘Chuan Da Zhi Sheng’ sounds very like ‘Trump Wins Big’ in Mandarin, and local speculators piled in as
Big business will be brought onside. The bond markets will be mollified. And there will be plenty of reassuring words about dealing with the budget deficit. With the first round of voting in France’s parliamentary elections set for this week, Marine Le Pen’s Rassemblement National is preparing for government. This week it has set out
The National Rally is comfortably leading in the polls. The charismatic Jordan Bardella is set to become the next Prime Minister. And Marine Le Pen looks to be heading for power in France. When she gets there, however, she faces a potentially far more lethal opponent than the bruised and increasingly powerless President Emmanuel Macron.
When Paris overtook London as the continent’s largest stock market two years ago, it was widely seen as a significant milestone in Britain’s relative decline. It was a sign of the City of London’s weakness – and it was evidence that the UK’s departure from the European Union was slowly destroying its once powerful financial
As Emmanuel Macron heads into a fraught election, France’s president is repeatedly warning voters of the calamitous consequences of electing Marine Le Pen’s National Rally into government. In doing so, he is effectively weaponising the bond market. His allies point to what unfolded under Liz Truss’s government. The message to voters is clear: don’t even
It has impeccable green credentials. It is crucial to the country’s power grid. And it is one of the UK’s largest private companies. A floatation of Octopus Energy should have been just the kind of event that would give the London Stock Exchange a much needed boost. And yet it now emerges that it may
It is possible that President Macon had some clever plan when he called a general election in the wake of catastrophic European election results last night. After all, he has a reputation for always being several moves ahead on the political chessboard. And yet one point is surely clear. France can’t afford a Le Pen
It was never very impressed by the opportunity to strike trade deals across the fast-growing Pacific. It didn’t much like the idea of deregulating the tech industry. Nor did it think much of diverging on financial standards to re-boot the City. The Labour party may have accepted our departure from the European Union, but it
He has created a major automobile company. He has built space rockets, taken over X, made himself hundreds of billions, and even found time to father lots of children. Elon Musk has plenty of achievements. And yet he may soon have one more. A cabinet post in the next Trump administration. But hold on: Musk
Foreigners are stripping the UK of its assets. Vulture capitalists are swooping down on our historic companies. We need a strategy to defend jobs and services. We will hear lots of arguments over the next few days about why the Czech billionaire Daniel Kretinsky should not be allowed to complete his agreed takeover of Royal
