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'Ending austerity' will cost £19bn, IFS warns chancellor

'Ending austerity' will cost £19bn, IFS warns chancellor

Business
The only way the chancellor can end austerity is to borrow substantial sums or raise Britain's tax burden to the highest level for nearly 70 years, the Institute for Fiscal Studies (IFS) has warned. In its closely-watched green budget, a survey of the UK economy and public finances, the IFS said that even the mildest version of "ending austerity" would cost a minimum of £19bn - the equivalent of a penny on income tax, National Insurance and on VAT.The IFS added that there was effectively no prospect of a "Brexit dividend" for the public finances and warned that UK economic growth would remain weak for another two years.Its report comes a fortnight ahead of the chancellor's winter budget, in which he will unveil his latest plans for borrowing and spending. But the I...
After-hours buzz: TSLA, COST & more

After-hours buzz: TSLA, COST & more

Finance
Check out the companies making headlines after the bell: Tesla stock dipped 2 percent in the extended session following a tweet by CEO Elon Musk that mocked the Securities and Exchange Commission, just days after the two reached a settlement to drop fraud charges against Musk. Musk tweeted shortly after the market close on Thursday, "Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" The SEC declined to comment on the tweet. Costco shares fell as much as 3 percent in after-hours trading after the compan...
All Brexit outcomes will cost the UK, IMF says

All Brexit outcomes will cost the UK, IMF says

Business
The International Monetary Fund has given a bleak assessment of the UK's prospects as the country counts down towards leaving the European Union. Presenting a report on the UK economy to the UK Treasury on Monday, IMF managing director Christine Lagarde said that "all Brexit outcomes" will entail costs for the UK economy."Any Brexit deal will not be as good as the current smooth process by which goods, people and services move now," Ms Lagarde said. The IMF boss warned that a more disruptive Brexit would lead to a "significantly worse outcome", adding that the range of Brexit issues left to prepare for was "daunting".Ms Lagarde said that the UK would need to negotiate 63 trade deals in the event of a "no-deal" departure from the European Union."That is a heck of a lot o...
Copper nanoparticles, green laser light cost beneficial in circuitry printing

Copper nanoparticles, green laser light cost beneficial in circuitry printing

Science
Sept. 13 (UPI) -- Printing electronic circuitry with copper nanoparticle ink and green laser light can be more cost beneficial and efficient, according to a study. Researchers at Soonchunhyang University in South Korea studied the thin-film printing technique instead of the conventional methods, based on laser power, scanning speed, pre-baking conditions and film thickness effects. Their findings were published this week in the journal AIP Advances. Nanoparticles in metallic inks have an advantage over bulk metals because of their lower melting points in the circuitry manufacturing. Originally the researchers, led by Kye-Si Kwon, tested silver nanoparticle ink but found it is costlier. Then, they studied studied copper, which is derived from copper oxide. Although copper's melting point ...
'No-deal' Brexit could cost £60m a day, Jaguar boss warns

'No-deal' Brexit could cost £60m a day, Jaguar boss warns

Business
The chief executive of Jaguar Land Rover has warned that supply bottlenecks resulting from a "no-deal" Brexit could bring to a halt to production at the company's UK car plants. Ralf Speth said that, with JLR producing 3,000 cars daily and relying heavily on "just-in-time" supply chains where parts are delivered shortly before they are used, he would be "very, very concerned" if there were blockages in the supply of parts.He told Sky News: "Just one part missing could mean stopping production at a cost of £60m a day. That is a huge risk."We depend on free, frictionless, seamless logistics."Dr Speth also repeated his warning, made in early July, that a hard Brexit would cost Jaguar Land Rover, the biggest private sector employer in the West Midlands, £1.2bn.He warn...