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What else has happened in the world this week? economia’s take on 14 - 18 May

“I definitely prefer being a lover than a fighter”, said Billy Joel.

 

Rather than fight his corner, Monday saw Best Buy’s Brian Dunn step down as CEO after 17 years at the helm following an "extremely close personal relationship" with a colleague. He gets a $6.6m kiss off. 

Which is four times what the Green Construction Board’s £1m received to boost its operations.

Has green gone to war? The Institute for Fiscal Studies (IFS) was in a spin on Tuesday over the prospect of a breed of eco-friendlier hybrid cars damaging the taxes raised by government. It predicts a £13bn black hole by 2029.

As sweet prancing equine irony would have it, Ferrari unveiled its new hybrid Enzo model the same day. By Thursday Porsche was in on the automotive act, unveiling its 918 Spyder hybrid – which can run on 94 miles per gallon.

From grease of one kind… fears over a possible Athenian exit from the euro dominated much of the week’s headlines.

But Greek tragedy was soon replaced with irony on Wednesday as George W. Bush admitted his plans to publish a book on economic recovery next year. Will the billionaire Texan petro-baron recommend a financial oil change?

Perhaps the Italian’s have snaffled a first draft. Italy were said to be on the right track by the IMF on the day that ratings agency Moody's cut its credit ratings for 26 Italian banks.

In the UK, the news that we are having fewer sick days is in no way correlated to the rising cost of pasties. Greggs has warned that jobs are at risk due to the hike in duty on its filled-pastry offerings. (Actually Wansbeck is the bankruptcy capital of the UK.)

What could better a pasty? A hybrid, in the shape of an apple. Except that it’s a pear, and called a “papple”. On sale in Marks & Spencer next week.

 

Rob Haynes 

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