German car industry leaders know how to use a bit of arm-twisting when they seek favors from the government. In an almost routine fashion, they would raise the specter of massive job losses if, for example, an economic downturn had hit the industry, or the European Commission was once again showing some determination to lower CO2 emissions thresholds. … [Read more...] about Opinion: Germany’s car industry gets cold shoulder from Berlin
Economic downturn example
Global financial crisis 2008-2009 The collapse that followed the 2008 banking crisis was the worst since the second world war. Banks around the world stopped lending to one another amid market panic over losses on speculative investments and the crisis led to huge government bailouts to prevent banks collapsing. Starved of access to finance, businesses failed and job losses soared. The recession that began between the run on Northern Rock in the UK in September 2007 and the collapse of Lehman Brothers in the US a year later has had a lingering aftermath , with a decade of anaemic recovery made worse by austerity. … [Read more...] about How does UK’s Covid recession compare with previous ones?
Civil service: Government's top lawyer to stand down Northern Ireland Secretary admits new bill will 'break international law' In the US, the Dow Jones Industrial Average closed 2.25% lower, while the S&P 500 fell 2.78%. The tech-heavy Nasdaq dropped 2.95%. … [Read more...] about Continued tech sell-off drags Wall Street lower