The British government refused to fund to the new television service using grant-in-aid. The channel started broadcasting on 11 Marchafter two weeks of real-time pilots, initially as a half-hour bulletin once a day at The music was changed slightly while the main colour scheme became black and red, with studios using frosted glass and white and red colours. New graphics were produced by the Lambie-Nairn design agency and music reworked by David Lowe.
The Year in Business: Global output fell for the first time since the s depression, but perhaps it was not quite as tough as many had feared 12 months ago when the whole financial system was close to breaking down.
They cut interest rates, boosted money supply and spent more, in particular subsidising consumers who wanted to buy a new motor vehicle. How economies will react when such stimulus is removed in the coming months is yet to be seen.
China takes lead The new workshop of the world is - of course - China. In China, million people are migrant workers, employed in factories hundreds of miles from their home villages. We will tie executive pay to long term performance so sound decisions are rewarded instead of short term greed US President Barack Obama Many had to return to the countryside after factories closed when export orders dried up at the start of the year.
But with the Chinese government pumping cash into the economy through cheap lending, training schemes, construction projects and railway building, the migrant workers are on the move again.
But the question is: But summit declarations and changes in the real world are two different things. Bonus issue As the year closes, the largest banks in the UK and US have once again announced big short-term profits and big bonuses for their traders - to the outrage of the general public.
Many economists say this should happen again, but there is no sign of such a move so far. Stephen Hester is the new boss brought in to clean up RBS and he defends the high amounts paid out to bankers.
We are leading the world in how we pay people in removing the cash bonuses and putting in deferral and claw-back and so on," he explains.
Asked whether banks should now be broken up, so the parts that hold ordinary savings are separate from riskier investment banks, he thinks it was wrong to get philosophically hung up on the shape of banks.
What we also know is that the majority of banks that have failed have been narrow banks - either narrow investment banks or narrow mortgage banks or narrow consumer finance banks," he exhorts.
The evidence is that narrow banks have tended to be riskier than more broadly-based banks," he says. Bank transparency However, the respected London economist Roger Bootle thinks the status quo has to change.
He would go further than those who simply say separate the investment banks from the commercial banks, despite Stephen Hester saying the evidence is not behind that argument.
Mr Hestor says it is the universal banks with different types of operations that actually did better than the narrow banks. There is a paradox about investment banking, because when it is profitable, it is very very profitable.
But do big banks like Goldman Sachs really generate wealth for an economy? It must be the most successful financial institution by far," he says.Cooper Hefner took on a major role in the company in after Christie stepped down in The magazine decided to scrap nudity in March , but reversed its decision earlier this year.
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