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What was the 1970s oil crisis, and are we heading for something worse?
Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis CIB, said while 1970s oil shocks sent prices sky high, they only cut global supply by 5-7%. In contrast, the current crisis affects 20% of the world’s supplies, “dwarfing the 1970s shock”, she said.
Child benefit: HMRC to review thousands of suspended payments
Eimear DevlinBBC Money Box reporter Eve Craven Eve Craven had her child benefit halted after she went on a five-day trip to New York with her son The UK’s tax body is reviewing its decisions to strip child benefit from about 23,500 claimants after it used travel data to conclude they had left the country…
Machu Picchu hit by a row over tourist buses
Jane ChambersBusiness reporter, Aguas Calientes, Peru AFP via Getty Images Machu Picchu attracts more than 1.6 million tourists per year, but getting there is not easy Machu Picchu, the remains of a 15th Century Inca city, is Peru’s most popular tourist destination, and a Unesco world heritage site. Yet a continuing dispute over the buses…
Businesses left asking – what happened to growth?
Simon JackBusiness editor Getty Images Not a single measure in the government’s policy-packed Budget will change the growth forecast for the next five years – that was the damning assessment of the government’s official forecaster, the Office for Budget Reponsibility (OBR). For a government that has declared economic growth as its top priority it is…
Hornsea uniform swap gets bigger venue due to popularity
A uniform swap proved so popular it had to move into a larger venue, organisers said. The Great Big Hornsea Uniform Swap was held on Saturday at East Riding Leisure Hornsea. The event provided an opportunity for parents and carers to pick up primary and secondary school uniforms for free. Parent Claire Potter described the…
