Kiev

10/07/2022

Abenomics: How Shinzo Abe aimed to revitalise Japan's economy
Japan's former Prime Minister Shinzo Abe, who was assassinated on Friday, had aimed to transform the economy.

He was the country's longest-serving prime minister, before standing down in the late summer of 2020.

Perhaps the most high profile policy of his time in office was "Abenomics", the economic programme that bears his name.

Although the raft of stimulus measures and major reforms did reinvigorate the world's third largest economy, it also fell short of expectations.

Mr Abe took office in 2012 at a time when Japan was in recession and Abenomics was seen as helping it return to growth during his first term.

However, his efforts to revive Japan's economy faced a major challenge when the country went into recession in 2020.

That and other slowdowns raised questions about the effectiveness of his approach.

https://www.bbc.com/news/business-62089543

Under the "Abenomics" policy, the former prime minister introduced stimulus measures and major reforms.

08/07/2022

Business groups call for stability as Johnson resigns
UK businesses have called for stability after Prime Minister Boris Johnson resigned as Conservative leader and the race to find a successor began.

The CBI said the "political vacuum" needs "to be filled at speed to protect people's living standards".

The Institute of Directors warned "what business hates most is uncertainty and instability".

Mr Johnson has said he intends to stay on as prime minister until a new Tory leader is chosen.

But it is not yet clear when that will happen.

On Thursday, Tom Tugendhat, chairman of the Commons foreign affairs committee, launched his bid to replace Mr Johnson, saying "taxes, bluntly, are too high." He joins Attorney General Suella Braverman who has also thrown her hat in the ring.

Some MPs and business leaders suggested he should go sooner rather than later to allow a new administration to try to tackle the sharpest rise in the cost of living for 40 years, which millions of UK households are struggling with.

Business Secretary Kwasi Kwarteng tweeted that a a new leader was needed "as soon as practicable".

"Someone who can rebuild trust, heal the country and set out a new, sensible and consistent economic approach to help families," he said.

Richard Burge, chief executive of the London Chamber of Commerce and Industry tweeted: "I believe it is wrong for Boris Johnson to continue as interim PM. He has shown no contrition about his behaviour and judgement, and cannot (or will not) change his character. Both are damaging to our international trading reputation, and to London as the world's greatest city."

Lord Rose, the chairman of Asda, the former boss of Marks & Spencer and a Conservative peer, said: "This has been too long in happening and it is unsustainable to continue with a hamstrung, lame duck prime minister into the autumn."

According to The Guardian, he also said: "There doesn't seem to be anybody dealing with the serious issue of the economy. This political crisis has hamstrung everything."

And former prime minister Sir John Major wrote in a letter to the backbench 1922 Committee: "The proposal for the prime minister to remain in office - for up to three months - having lost the support of his cabinet, his government and his parliamentary party is unwise, and may be unsustainable."

https://www.bbc.com/news/business-62075835

Leading UK industry groups have called for the 'political vacuum' in government to be filled.

07/07/2022

Jet2 says airports ‘woefully ill-prepared’
Budget airline Jet2 has said airports have been "woefully ill-prepared and poorly resourced" for the number of people wanting to fly in recent months

It said it was directly affected by "inexcusable" wider disruption across the airline industry and its suppliers.

Thousands of flights have been cancelled and delayed due to staff shortages.

The airline said customers have had to endure a "very much poorer experience" than they should have.

Passengers have been hit by flight delays, cancellations, long queues, baggage handling problems, and a lack of onboard catering supplies.

Executive chairman Philip Meeson said: "Many suppliers have been woefully ill‐prepared and poorly resourced for the volume of customers they could reasonably expect.

https://www.bbc.com/news/business-62077124

The airline said holiday disruption across the airline industry was "inexcusable" .

05/07/2022

Pilots' strike pushes SAS airline into bankruptcy move

Scandinavian airline SAS has filed for bankruptcy protection in the US as a strike by its pilots added to its financial problems.

The move will allow the carrier to continue operating, although the strike has grounded about half its flights.

SAS said the industrial action meant the airline had brought forward plans to restructure its finances.

The aviation sector was hit hard by the coronavirus pandemic as demand for travel collapsed.

However, in recent months airlines and airports - which shed thousands of jobs during the pandemic - have struggled to cope with the rebound in air travel.

EasyJet's chief operating officer resigned on Monday after a series of flight cancellations and disruption at the airline in recent weeks.

Some of the disruption in the sector has been caused by staff shortages, but several airlines are facing the threat of strike action over summer as workers push for higher pay.

SAS pilots are striking in a row over plans to cut their salaries as part of the airline's restructuring plan.

https://www.bbc.com/news/business-62048800

The Scandinavian carrier files for bankruptcy protection in the US as its pilots take action over pay.

04/07/2022

Making minerals: Crushed, zapped, boiled and baked
When the penguins p**p on Antarctica's Elephant Island, a little bit of magic happens in the soil.

Chemical reactions produce a dull brown mineral called spheniscidite. It's unique and reflects the special conditions that exist only in that locality.

The name comes from Sphenisciformes - the label used to describe penguins' grouping in the avian tree of life.

The crystalline compound is just one of roughly 6,000 such minerals recognised today by the International Mineralogical Association.

But the IMA's classification system, which describes so much of the "hard stuff" all around us, has just undergone something of a reboot.

Dr Robert Hazen from the Carnegie Institution for Science in Washington DC has spent the past 15 years reclassifying the minerals to add information about their genesis.

"There's been a classification system in place for almost two centuries that's based on the chemistry and the crystal structure of minerals, and ours adds the dimensions of time and formation environment," he told the Science In Action programme on the BBC World Service.

https://www.bbc.com/news/science-environment-62013806

From using penguin poo to coal fire - nature has many ways to generate minerals on and off Earth.

24/06/2022

24/06/2022

24/06/2022

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24/06/2022

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