Seven years after the global financial crisis began most developed economies are only slightly bigger, if at all, than they were in 2007, says The Economist. The US and Japan have made up the lost ground, but the eurozone and Britain haven’t; our economy is still 2% below its pre-crisis peak. Emerging markets, especially China, have continued to soar. China’s economy is around 70% bigger than it was in 2007.
In the first of three interviews with Merryn Somerset Webb, Hugh Hendry, manager of the Eclectica Fund, talks about what it takes to be a good hedge fund manager – and how he learned to stop worrying and love central banks.
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Today in 1972, a man calling himself Dan Cooper parachuted from a hijacked Northwest Airlines Boeing 727 with $200,000 in cash. He has never been found.