Money news

Happy GERS day everyone! For the uninitiated, the publication of the Government Expenditure and Revenue Scotland figures has become one of Scotland’s most-cherished annual political bunfights. It is a kind of Caledonian Festivus, during which certain rites must be observed. Some people enjoy the Festivus Miracles, others relish the Festivus Feats of Strength and magical thinking but everyone agrees that the true meaning of Festivus – and GERS – is only truly made apparent during the traditional and joyous Airing of Grievances. Today, happily, will be no exception. the latest GERS figures show some improvement in Scotland’s financial position. The deficit run by Scotland last year only amounted to £13.3

Guy Verhofstadt is a busy man. As well as his day job in the European parliament, Verhofstadt has the task of trying to thrash out a deal in his role as its chief Brexit negotiator. But that daunting task – and his dedication to the EU – isn’t stopping the Belgian politician from earning a small fortune for his side jobs away from his taxpayer-funded role. In fact, in a tally of all 748 MEPs, Verhofstadt comes second for his outside earnings – which tally up to at least £175,000 a year. As an MEP, Verhofstadt already pockets £93,000 a year. But the bulk of his income actually comes from his commitments

In a quiet season for business news, the giant cesspit that is the world of elite football can be relied upon to provide a money story with a pungent whiff to it. I refer to the transfer of the 25-year-old Brazilian known only as Neymar from Barcelona to Paris St Germain for a world-record fee close to £200 million. When Neymar was bought by Barcelona from Santos of Brazil in 2013, a £200 million break clause was inserted in his contract in the belief that no club in the world could possibly afford to buy him out. But PSG has done so even though Spanish football authorities refused to facilitate

Police paying a convicted child rapist to be a covert informant will always turn stomachs. But the real stomach-churner is that the grooming and exploitation of vulnerable women and girls is continuing. Even so, the £10,000 payment made to a sex offender who helped bring the Newcastle grooming gang to justice has sparked a backlash. The chief constable of Northumbria, who authorised the payment, has conceded that his decision is widely seen as ‘morally repugnant’. Yet the criticism aimed at the police should not mask the importance of paid informants. It’s clear to me that information and intelligence is the lifeblood of any investigation. This is particularly true in cases involving child sexual exploitation, where offenders operate in

It started as displacement activity, my immersion in the market mayhem of the summer of 2007. I was at home looking after my wife Sian Busby and our youngest child. Sian had just been diagnosed with a horrible cancer, and was recovering from radical surgery. She did not want a fuss. And did not want our friends to know the seriousness of what had happened. So in the absence of being able to talk about it, I needed a distraction. So in the study across the hall from where Sian was convalescing, I tried to work out what the hell was happening in global debt markets. What I needed to

A season ticket at the Parc des Princes, home to Paris Saint-Germain, will set you back somewhere between £336 and £2,116, with individual tickets ranging from £25 to over £100, depending on how good your eyesight is. But this is a small price to pay in order to watch footballing luminaries like Edinson Cavani, Ángel di María and Dani Alves light up a league that has long been the sickly cousin of the European superpowers. Indeed, if you’re a PSG fan, this cost will be nothing compared to the phenomenal resurrection, started in 2011, of a European superpower that appeared to be in terminal decline. PSG are on the verge

Remember George Osborne in his hi-viz jacket as he toured the nation’s metal-bashers and gromit-manufacturers in furtherance of his elusive ‘rebalancing of the economy’ away from services and consumers and towards manufacturing and exports? What a shame he is not still in office to witness his ‘march of the makers’ finally becoming a reality. This month’s Purchasing Managers’ Index (PMI) for manufacturing has come in at a healthy 55.1, comfortably exceeding expectations. Any figure above 50 suggests expansion. The index was boosted especially by a sharp rise in new export orders, which rose at their second fastest level in the 17 year history of the index. As I wrote here

There is a group of women who have every reason to feel aggrieved to learn that the BBC is paying Gary Lineker £1.8 million a year and John Humphreys between £600,000 and £650,000. But it doesn’t include Jane Garvey and Emily Maitlis, both of whom appear to be grubbing by on a little below £150,000. It is the 101,000 women found guilty last year of evading the TV licence. If you want a genuinely worrying gender disparity, forget the BBC’s highest-earners and look at the balance of people at the bottom of society who are being dragged through the courts for the non-payment of the tax. The Perry Review into the TV licence,