Daily Telegraph
Slide in house prices is the worst since the Great Depression
Former MPC member Charles Goodhart warned yesterday that with the economy looking ‘dire’, Britain is now facing a recession. Professor Goodhart, now at the London School of Economics, said: ‘Output is going to fall, unemployment is going to rise, possibly quite sharply. It's a horrible situation. The British economy is getting into quite a recession. I remember when the Queen had an “annus horribilis,” and this is the annus horribilis for the MPC. The third quarter will show no growth, maybe even a marginal reduction in output,’ he said in an interview with Bloomberg Television. ‘I think it will last rather longer than is going to be comfortable. The situation looks dire.’
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/11
/cnhousing111.xml

The money tap turns off, leaving the world in short supply
Professor Tim Congdon from the London School of Economics said the UK was lurching from boom to bust. ‘Real money growth is virtually nil. The British economy is taking a thrashing and it is going to get worse. Corporate money balances have contracted 3pc over the last three months, which is double digits on an annualised basis. This is a serious squeeze for companies,’ he said. Mr Congdon warned three years ago that surging M4 would lead to a ‘dangerous’ bubble, which is what occurred. He now fears the MPC will react too late as the process goes into reverse.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/11/
cnmoney111.xml

Independent
Bank holds interest rates at 5 per cent as prices rise and growth stalls
Charles Goodhart, a former MPC member, predicted that the severity of the downturn would force the Bank to cut borrowing costs whenever the next change came. ‘Output is going to fall, unemployment is going to rise, possibly quite sharply,’ said Mr Goodhart, a professor at the London School of Economics. ‘The economy is getting into quite a recession. It is a horrible situation.’
http://www.independent.co.uk/news/business/news/bank-holds-interest-rates-at-5
-as-prices-rise-and-growth-stalls-865151.html

Trouw, Netherlands
Afrika kiest voor de Chinese weg
Chris Alden van de London School of Economics, schrijft daarom in zijn boek China in Africa te verwachten dat Chinese bedrijven dit soort sponsoractiviteiten ook beginnen in Afrika.
(Source: Lexis)

Late-edition headlines

Financial Times
'Wise man' who changed face of global banking
Obituary of Sir Dennis Weatherstone, who changed the face of US and global banking….Yet, as Sir Howard Davies, director of the London School of Economics and a former head of the Financial Services Authority, recalls, Sir Dennis, while serving from 1998-2001 on the Bank of England board of banking supervision, was no doctrinaire free marketeer: ‘He was very popular with banking supervisors as someone who stiffened their backbones to challenge banks pursuing risky strategies.’
http://www.ft.com/cms/s/0/24efe1ac-4e17-11dd-820e-000077b07658.html

China’s finance houses vie to lure workers
PwC, the professional services firm, launched a worldwide programme to recruit overseas Chinese with international experiences late last year. The initiative aims to attract both graduates and experienced staff. The firm has placed four managers in London, New York, Los Angeles and Sydney to work with top universities, such as the London School of Economics and Political Science, the University of California, Berkeley and New York University. The aim is to lure Chinese graduates home.
http://www.ft.com/cms/s/0/bb733f40-4e2e-11dd-820e-000077b07658.html

Bloomberg, USA
Goodhart says UK faces ‘quite a recession’ forcing rate cut
Former Bank of England policy maker Charles Goodhart said the UK economy faces ‘quite a recession,' which will force the central bank to cut the benchmark interest rate.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGARHtHCn23w&refer=home

Pensions and Investments
Pension funding a ‘top risk’ to economy
Pension funding strain in an era of falling fertility rates and rising life expectancy is one of the five top risks in the global economy identified by a panel of corporate executives, academics and policy specialists. The panel was put together by the Goldman Sachs Markets Institute (GSMI) , a public policy research unit of Goldman Sachs and hosted by GSMI in collaboration with the London School of Economics and Political Science, and the Guanghua School of Management at Peking University.
http://www.pionline.com/apps/pbcs.dll/article?AID=/20080710/DAILY/753998408

Pink News
LGBT London history project wins Lottery grant
A new project that explores the experiences of the gay, lesbian, bisexual and trans communities in housing and their relationship with the police over the past 25 years has received a £49,900 grant. All material gathered during the project will be stored at the Hall-Carpenter Archives, held at the British Library of Political and Economic Science at the London School of Economics.
http://www.pinknews.co.uk/news/articles/2005-8306.html

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