The week according to MT

Our 60-second guide to the best of the business news – economic gloom, mental incapacity and Hammer time...

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Last Updated: 06 Nov 2012

As the business world slopes back to the office, full of turkey sandwiches and mince pies, it’s been a short week – but there’s still been plenty of time for economic doom and gloom. With more pessimistic statistics emerging on the housing market, news that DSG and Next endured a miserable Christmas provided more grist to the mill – although some stores seem to be bucking the trend. Things have got so bad that even the notoriously-gloomy CBI is starting to warn against the dangers of talking up a recession…

Still, there’s clearly some pain ahead, and some companies will probably be forced to sell assets to raise funds – just like Ford with Jaguar and Land Rover. Though for Northern Rock, still teetering on the brink of nationalisation, it could be too late for that – although the Chancellor has outlined his plan to make sure the fiasco is not repeated in 2008. Another major focus for the government this year will be getting people off welfare – apparently 300,000 young people in the UK claim to be mentally unfit for work.

One man who will be looking forward to 2008 is rapper MC Hammer, who is re-launching himself as an internet entrepreneur. As the man behind ‘U Can’t Touch This’, Hammer is assured of his place in history – as is the trader who bid oil above $100 a barrel for the first time ever this week. Let’s just hope he’s given due consideration to his carbon margin...

 

PS Don't forget to try our Big 2007 Prize Quiz - you've got until Tuesday to get your answers in...

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