No One Benefits from a Weak Pound. Not Even Exporters

At the start of September, the pound fell to its lowest level since the immediate aftermath of the EU referendum result in 2016. On that occasion, its value quickly rallied as markets and currency exchanges adjusted to the new political reality. This time, with the UK in a state of political turmoil and a no-deal Brexit looking ever more likely come 31st October, there are concerns Sterling could endure at its weakest value in 35 years for the forseeable future.

A weak pound means a weak economy. Forget all attempts to dress it up otherwise. And on the front line feeling the sharp edge of its effects are the small businesses trading overseas which are having to deal with eroding margins and turbulence in their supply chains.

Global Growth Forecasts Are On the Up… But So is Debt

The lessons of the 2008 banking crisis seemed obvious. Economic growth built on the shaky foundations of unsustainable debt was nothing more than a house of cards ready to come crashing down.The lessons of the 2008 banking crisis seemed obvious. Economic growth built on the shaky foundations of unsustainable debt was nothing more than a house of cards ready to come crashing down.

A decade on, it’s hard to make a case that much has changed. On the face of things, there is a renewed mood of optimism that we might be on the verge of good times again. The IMF’s latest World Economic Outlook upwardly revised its prediction for global economic growth to 3.9 per cent for 2018 and 2019, up 0.2 per cent from its forecast just six months ago. 

Air Berlin Grounded By Insolvency

After Monarch went bankrupt and left thousands of passengers stranded, it looks like Air Berlin, the second largest German airline, looks likely to be the next carrier to close down operations.

While Air Berlin is fizzing out slowly, in contrast to Monarch’s overnight collapse, as many as 9,000 redundancies are expected once it finally winds up with many small and medium sized suppliers braced for significant losses.

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  2. ‘Debt Recovery in Progress’ - Singapore Men Jailed Over Botched Debt Collection
  3. The Strange Case of North Korea’s Stolen Volvos
  4. Vultures Circle Debtors in Ireland’s Courts

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