September 30, 2010
Posted: 1639 GMT
London, England - It’s like food. Some of us have too much. Some of us have too little. Now the housing market is showing the same gaping imbalances.
Take Ireland. At the root of the current banking crisis was a massive property bubble. Irish house price inflation and homebuilding trumped most of Europe in the decade to 2005. Incomes and population were going up, household size was going down. Demand for new homes was rampant. But not permanent.
We might, with some degree of irony, call this the financial version of the Greek tragedy. Inevitably (at least with hindsight) the bubble burst. Now Ireland has more than 100,000 more homes than it needs. Next stop, demolition.
But the problem is equally tragic in reverse. Cross the Irish Sea, or journey to Europe’s easternmost point and you’ll see why. Homebuilding in Britain fell to its lowest level in 87 years last year. The government admits there’s a huge gap between supply and demand, leading to overcrowding.
Over in Russia, Prime Minister Putin said this month that in order to make enough housing for everyone, the country needs to build "100,000 square meters a year." The budget for this is nearly $14 billion.
It’s a bleak comparison. For those counting the square meters in Moscow’s Khrushchev-era apartment blocks, life in Ireland’s ghost estates might look like heaven. But many of us who are a little luckier would struggle to decide which is worse.
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September 29, 2010
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September 28, 2010
Posted: 2134 GMT
Southwest Airlines just announced it will acquire rival company AirTran. So airlines are merging and making money, but is what’s good for airlines ALSO good for passengers? Have no fear, Quest and Ali are here and back with their Q & A-style news quiz. You choose the topic here on our blog, then every Thursday Richard and Ali have a go at it to see who can outsmart the other in the world of business news. Tune in Thursday to watch and leave us ideas for next week’s Q & A in the comments section (right underneath here).
September 27, 2010
Posted: 1243 GMT
Where were Quest and Ali? No, that’s not this week’s Q&A quiz question… both were away from the set for the past two weeks, but they’re back and ready to answer your questions. What business topic would you like to see quizzed this week? Share your requests here and then see it on air Thursday.
September 16, 2010
Posted: 1639 GMT
September 15, 2010
Posted: 1347 GMT
By Ayesha Durgahee
Starting at around $600 for ballerina flats, you have to be a serious shoe fiend or have serious amounts of money to slip into a pair of Manolos – especially when they go up to more than $1500.
The number of women that queued to get into the new Manolo Blahnik pop-up store at Liberty of London gave the impression they were giving the shoes away!
For these 200 women, Liberty of London became their Manolo Mecca because the designer himself was inside to meet them and sign whatever was given to him – Blahnik silk scarves, diaries, men's ties, books and of course shoes.
I had never met Manolo Blahnik before so I didn't know what to expect. Dressed in a bright purple suit with purple leather suede loafers to match, he greeted me with a smile as he threw his arms up and said 'so lovely to meet you!'.
With arms akimbo, Manolo gave a candid interview with vivacious modesty...a bit like his shoes. Having a snapshot of the designer's personality, it is, in this case, the man that maketh the Manolos.
September 14, 2010
Posted: 1134 GMT
If you're unclear about the new banking reforms on increased capital reserves, Richard Quest has a clever explanation using Jenga! All you need is one minute thirty seconds to watch this video. Do you think banks increasing capital reserves will help or hinder the economic recovery? Leave us your thoughts in the comments section (right below here), become a fan on Facebook or Tweet Richard your thoughts to @RichardQuest. Be clever and we just might use your response in the show!