The Conversation

From industrial powerhouse to uncertain future: lessons from Britain’s chemical industry

In 1989 a young Janet Godsell, one of the authors of this article, spent a week on night shifts in the powerhouse at ICI’s Huddersfield works in west Yorkshire. She was starting her career at the biggest chemicals company in the UK, but it would be broken up and sold off a few years later as part of Britain’s drive to focus on only making the most lucrative products. This is the story of what happened to ICI and why its break-up looks less inspired now than it did at the time.

The government has delayed the toughest spending decisions – but here’s what we do know after the budget

Prime Minister Andy Burnham congratulates Chancellor John Healey after his first budget. © House of Commons, CC BY-NC-NDJohn Healey’s steady-as-she-goes budget was a picture of a government doing its best to offer “what help we can afford”, while weathering the economic storms. But despite its 98 policy measures, decisions on some of the biggest issues appear to have been kicked down the road.

How different election results affect bank stability – global study

Recent elections in Brazil and Israel have yielded different political outcomes. In Brazil, Luiz Inácio Lula da Silva’s narrow and ultimately surprise victory in a presidential runoff vote has kept him in office.

In Israel, meanwhile, an inconclusive election result has left uncertainty over the formation of the next government. These outcomes are likely to have an effect on the stability of the financial systems in both countries.

70 years ago the Suez crisis exposed British relative decline. Today, the Iran conflict could be doing the same for the US

Like the Strait of Hormuz, the Suez Canal is a vital waterway for global trade. Viktor Hladchenko/ShutterstockMonths after the US and Israel launched Operation Epic Fury against Iran, the Strait of Hormuz remains largely closed. The UK chose not to get directly involved in the conflict. Nonetheless, it has been exposed to the crisis through record-high diesel prices as well as a spike in inflation.

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