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26 October 2015 |
The debate over immigration within the UK reached new heights last week as protest group ‘No Borders’ stormed St Pancras Station. According to the Mirror protestors gathered ‘to highlight the plight of migrants and refugees based in Calais who attempt to get into the UK illegally.’
In other UK immigration news, the Times of India has reported the ‘big relief to Indian nurses’ after the government placed the profession on the shortage occupation list’. In practise, this means that approximately 30,000 nurses will be able to remain within the UK providing they earn ‘a minimum of £35,000 a year’.
Across the Atlantic, the immigration storm continues as Donald Trump fronts his campaign with the issue. The Washington Post recalls in their article about Trump’s initial Presidential announcement speech where he stated, ‘“U.S. has become a dumping ground for everybody else’s problems" and that Mexico is "sending people that have lots of problems.”’
With the persistent low inflation rate, and with the latest September figures being negative, the agenda of monetary policy will be a hot topic in the December meeting for the ECB according to Reuters. However, despite the weak economic climate within Europe, business appears to be picking up with activity in the month of October being at ‘the fastest rate since April’.
TalkTalk, the broadband and network provider, has hit the headlines this week after the cyberattack on the firm last Wednesday. TalkTalk has since come under much criticism for their failure to respond quickly and encrypt data that had not been secured. The company now faces a huge compensation bill which The Telegraph believes could run into the millions.
The Governor of the Bank of England Mark Carney spoke out last week about the Euro situation. As summarised in the Guardian, Carney explained that ‘EU membership opened up the UK economy and made it more dynamic’. Therefore, as the article goes onto explain, if the UK chose to leave the European Union, the terms and conditions for doing so would need to be thoroughly considered in order to ensure little financial impact on the UK economy.
The Israeli / Palestine Conflict has once again reached dangerous levels of tension and the United Nations Deputy Secretary, General Jan Eliasson, believes that peace is unlikely to be achieved between the two sides as he spoke at the Security Council meeting last week.
The conversations being held between UK Prime Minister David Cameron and China’s President Xi have been at the forefront of the headlines this week as Cameron defined the talks as the beginning of the ‘“golden era” for UK China relations’. The Observer broke down the series of agreements in their article which included China’s investment in the ‘Hinkley Point C nuclear plant in Somerset’. Moreover, the relationship will ensure further exports for China which is beneficial in its current economic slowdown and overcapacity of supply in the workforce. For more information on the developments of UK-China relations see links below.
More positive news for China comes today when they unexpectedly cut the interest rate. Bloomberg reports the impact of this stating that ‘The Shanghai Composite Index climbed to a two-month high in the first trading day after China lowered borrowing costs for the sixth time in a year and reduced lenders’ reserve requirements.’ Nonetheless whilst the immediate effect seems positive, Reuters appears a little sceptic as it compares their current behaviour to the 2008/09 financial crisis. It will be interesting to see over the coming months whether the so called ‘workshop of the world’ will recover to its economic strength.