There is something special about Sunday morning, the Sunday Times, hot croissants with honey and butter, excellent.
Headlines – King boosts rescue to £300 billion as the Bank boosts firepower to deal with the economic crisis in Europe. On Thursday, the Chancellor and the Governor announced a “Funding for Lending” programme and an emergency lending scheme for banks. The former to boost borrowing by business and homeowners, the latter to improve liquidity in the banking system in the wake of a crisis in Europe.
The Sunday Times leader is not impressed, the measures will be about as effective as an umbrella in a hurricane – if Greece puts Europe on the brink. David Smith is equally circumspect – There is no place to hide if Greece smashed the Euro. Excellent.
Economics news this week, manufacturing output is flat, the trade figures disappoint but the World Bank suggests there is hope for the world, despite the Euro crisis. World trade will grow by over 5% and world GDP by a respectable 2.5% despite the slowdown in Europe.
The problem in the UK is manifest, policy hopes for manufacturing, investment and net trade have been dashed. The problem is lack domestic demand and household spending in particular. Lower mortgage rates will do little for first time buyers without a deposit.
Check out The Saturday Economist for more economics and the latest discussion papers. Now also available as a Prezi on line. Will the new lending proposals work? We doubt it. Let us know what you think, send an email or post a comment on line or on Facebook.
Back to the day job, Monday, team meeting in the morning followed by meeting with Laura Wolfe and Journey 9 to plan the Social Media conference in July. This will be a great event for all those businesses with an interest in growing business and profits on line. Integrating Social Media – such a challenge for so many.
Later in the afternoon, I have agreed to look at the Will Kintish new on line training modules for networking. Four hours of video but so worthwhile, you can always learn something from an expert.
Tuesday, Gateway breakfast in the morning and during the day welcome to new team member Rachel Thompson who takes over as future pro.manager with immediate effect. I finish off the Will Kintish training modules for networking.
Wednesday, meeting with Paul Johnson of Cobbetts, as Chairman designate chance to brief ahead of the Annual General Meeting next week. This is followed by lunch with Peter Folkman. Peter is an old friend and ex Chairman of Manchester Science Parks, just returned from skiing in the glaciers with an armed guard to protect from Polar bears. Neat.
In the afternoon, briefing meeting with Chris Salt and Becky Owen from RBS, a SME club update and briefing on the planned Social Media Conference next month.
Thursday, travel to London for a meeting with Doug McWilliams another old friend and head of The Centre for Economics and Business Research. Doug has been so successful in building up his economics consultancy business since start up just twenty years ago. Doug has one of the best forecasting records in the business.
In the evening, Dinner at the Mansion House to listen to the Lord Mayor, the Governor and the Chancellor of the Exchequer. The new policy announcements take many by surprise policy planning or panic reaction. I decide on reflection it is planning for panic in the wake of an adverse Greek result later today.
Friday, Visit London day with a trip to Oxford Street, Bond Street and Regent Street. Recession what recession, the streets and shops are so busy.
Saturday, working in the morning, the day starts as usual with tea, the FT, and the Economist app. The Economist leads with The Vanishing North, what the melting of the Arctic means for trade, energy and the environment.
In the afternoon, no tennis, we are in London and we visit my son, daughter in law and grandson in Tower Hamlets. Very nice. Lunch followed by swings and feeding the ducks in the park.
Hope all is well, more news next week,
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