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Jim O’Neill is not someone you would expect to be sympathetic to Jeremy Corbyn and his economic agenda. But the former Conservative Treasury minister, Goldman Sachs economist and architect of the Northern Powerhouse, thinks that Britain's opposition Labour party has captured the political mood of our times.
In FT Weekend, O’Neill argues that Labour has it about right on six key areas. Boosting productivity, maintaining present levels of corporation tax, tackling the housing crisis, rediscovering profit with a purpose, fixing public utilities and tackling deficiencies in the labour market are all welcome policies that Mr Corbyn is promoting. He still has concerns about the opposition’s overall spending framework. But, unlike Theresa May's government, O’Neill argues that Labour have viable policies that address challenges beyond Brexit.
Wang Qishan, China’s vice president and philosopher king, is profiled by Tom Mitchell as he seeks to diffuse trade tensions with the US.
Harry Wallop reports on the opening of Jack's, the new discount supermarket brand from Tesco. From a windy British car park, he concludes it is too parochial to be a success.
Tim Harford salutes the Ig Nobles, the prize that glories in weird ideas that often turn out to pay dividends.
Jo-Anne Nadler, a former political producer, writes that BBC journalists' cameo appearances on the hit drama 'Bodyguard' wrongly blur the line between drama and news, chipping away at the credibility of their real-life newscasts.
Daniel Davies, author of 'Lying for Money', argues that buyers of marijuana shares should be wary of the growing hype surrounding legalised pot.
Best of the week
Calm voice of podcasts risks being lost in a crowd- John Gapper
Not all regions face the same threat from robots- Sarah O'Connor
The economic cost of fraying trust in Europe- Martin Sandbu
US can no longer carry the world on its shoulders- Janan Ganesh
How hedge funds keep markets trading in a crunch- Gillian Tett
The risk of a UK recession is growing- Ilaria Maselli
The US, China and the logic of trade confrontation- Gideon Rachman
Israel and the Arab states make eyes at each other- Roula Khalaf
What you've been saying
Brexit has played a part in rise of populism in Europe: letter from Robert Strauss, Brussels, Belgium
Martin Sandbu makes a very important point about the costs of the withering of trust in the EU, but it is not only the newer member states that are the ones blighting it. Poland’s ban of a political activist is very telling, but older member states also act in ways others regard as against the spirit (and even the laws) of the EU. Germany’s support for the Nord Stream pipeline, French barriers to “Polish plumbers” and, perhaps most glaring of all, the UK’s decision to have a referendum on membership to solve a domestic party problem are just three examples.
In response to "How hedge funds keep markets trading in a crunch" , Cynic in London says:
In a world where new regulations are cutting liquidity and therefore increasing volatility, when unexpected big events happen the role of hedge funds actually dampens volume levels. Most people do not understand how hedge funds are run and blame them for all bad that happens in the markets.
Women entrepreneurs need early support: letter from Prof Maggie Dallman, Imperial College London, UK
Jana Bakunina’s focus on investing in women is smart business. Fewer than one in 10 venture capital dollars go to companies with a female founder, despite studies indicating they make a higher return on investment. In this climate, visionary entrepreneurs are overlooked and markets remain untapped. As women are excluded from networks, the negative cycle perpetuates. […] The doyens of Silicon Valley wrap themselves in progressive rhetoric, but can resemble an old boys’ network. It’s time to create a young women’s network.
As stock manias go, cannabis is the real dope
Buyers of marijuana shares should be wary of the hype around legalised pot
BBC’s ‘Bodyguard’ wrongly blurs the line between drama and news
When real-life journalists deliver fictional lines, their credibility is chipped away
The Long View: Why rising bond yields are not yet an obstacle for US equities
The disconnect between them can last as long as economic growth remains robust
Person in the News: Wang Qishan, China’s philosopher king
The vice-president seeks advice to defuse trade tension but struggles to understand Trump
MJ Long, architect, 1939-2018
The brains behind the British Library
Theresa May’s negotiating flaws were laid bare at Salzburg
The UK prime minister postures, while the EU concentrates on process
A taste of Brexit Britain in a windswept Tesco car park
The supermarket’s new discount chain is too parochial to beat Aldi and Lidl
Free Lunch: Salzburg changes nothing
Theresa May’s Chequers ideas still have some life in them
Jeremy Corbyn’s Labour looks poised to shake up the status quo
The UK opposition steps into an economic void left by a government grappling with Brexit
Undercover Economist: Nominations for a silly economics prize with a sensible purpose
The Ig Nobels glory in weird ideas that often turn out to pay a dividend
Ingram Pinn’s illustration of the week: Border crossing
‘Chequers plan’ meets an icy EU response
City Insider: Noel Edmonds lets rip at HBOS victims meeting
TV presenter blames bank for the loss of his company in 2006
Markets Insight: Esports: the wild west of gaming that investors can’t ignore
This year’s Tokyo Game Show points to big changes in the multi-billion dollar video games industry
The FT View: US growth is shrugging off Donald Trump’s China tariffs
November’s midterm elections will not be dominated by trade policy
The FT View: Salzburg delivers Britain home truths about Brexit
Negotiations are entering the final stages, but hard choices still lie ahead
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