Award-winning business and financial news, presented by Andrew Verity and Mickey Clark. Broadcast live every weekday morning at 5.30am on BBC Radio 5 live.
Права: (C) BBC 2010
A court-appointed expert has blamed the collapse of the investment bank Lehman Brothers on its top management. Britain's financial regulator is expected to give more details on plans for tougher supervision of products. The annual cost of the UK's unfunded public sector pension schemes could more than triple over the next 50 years, according to a report from the Government's spending watchdog. Finally, only 1,800 youngsters have signed up for a Government-backed apprenticeship scheme, despite 5,000 places being available.
Japan's economy grew less than initially estimated in the fourth quarter of last year, according to the latest official figures. Nearly two-thirds of the world's new billionaires come from Asia, according to American business magazine Forbes. And new figures show re-mortgaging activity increased in the first two months of the year.
European countries are increasingly talking about a European version of the International Monetary Fund to bail out countries that run into a Greek-style crisis. An 'EMF' would allow crisis-hit European countries to get emergency money without having to turn to the IMF in Washington. Cardiff, Southend and Chester City football clubs are all in the High Court today after the tax man has petitioned for them to be wound up for failure to pay their taxes. Finally, fraud losses on credit and debit cards fell by over a quarter between 2008 and 2009 but the cost of online banking fraud has jumped by 14%.
Some MPs say the government fund designed to help entrepreneurs and small businesses is badly managed and is putting tax-payers money at risk. Money held in tax free ISAs are still transferred by cheque and not electronically, meaning it is difficult to know where your money is at any given time. We also hear from car makers who say that cars on the road emitted 5% less carbon dioxide last year compared to 2008. Finally, the Royal Institute of Chartered Surveyors say that supply in the property market outstripped demand for a second consecutive month in February.
The CBI publishes its Budget Submission, and have sent the Chancellor a letter telling him to get the public finances in order. A two-day strike begins by 270,000 civil servants including Jobcentre staff, tax workers, coastguards, passport workers, court staff and driving test examiners. We also look at the independent think-tank the Social Market Foundation, who say far too much attention has been given to the young unemployed. Finally, the NAPF says only one in three workers are confident their pension will give them enough money in retirement, yet pensions remain well over twice as popular as property investments.
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