To guarantee or not to guarantee, that is the question

Isn’t it great to see the pact among EU leaders not to go it alone into the financial storm managed to last a mere 24 hours? On Saturday, German Chancellor Angela Merkel railed against Ireland guaranteeing the deposits of its savers, saying she was 'not amused', and then promptly seemed to do exactly the same thing.

The big question that hangs over governments guaranteeing 100% of savings is whether it's a good idea to take on all the risk and not be in a position to exert any control. At least...

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What a waste

Starbucks is attracting headlines this morning after news emerged that it wastes more than 20 million litres of water a day. The coffee chain’s management insists that taps are left running in its branches as a way of reducing germs breeding in the taps.

For much more on this topic, see our special report on water in the October issue of Spectator Business.

Elliot Wilson focuses on how scarcity of clean water will become a major economic issue and Alex Brummer concentrates on the investment potential of water utilities. Other issues explored in the section include what British entrepreneurs and companies are doing in the field of water technology and role of private capital in Third World water supply.

You can access all of this, and much, much more, by clicking here.

The turmoil continues

Brace yourselves for another day of financial turmoil.  At time of writing, the FTSE 100 share index has fallen by just under 6 percent; as has Germany's DAX index.  And all this despite the German finance ministry's €50 billion rescue package for one of the country's biggest banks, and Angela Merkel's announcement that the government will ensure that all savings account deposits are "safe" (although it's still unclear whether this will translate into an Irish-style savings guarantee).

The big question now is whether the UK government will also guarantee all deposits in this country.  As...

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Bailout bill passes the House

Second-time round, the House has approved the Paulson plan with it passing by 263 votes to 171. It remains to be seen if this will actually succeed in freeing up the credit market.