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Brexit: Carney warns no-deal could see house prices plunge

Brexit: Carney warns no-deal could see house prices plunge

Business
The Bank of England's governor has warned the cabinet that a chaotic no-deal Brexit could crash house prices and send another financial shock through the economy.Mark Carney met senior ministers on Thursday to discuss the risks of a disorderly exit from the EU.His worst-case scenario was that house prices could fall as much as 35% over three years, a source told the BBC.The warning echoes some of the Bank's previous comments.The Bank of England routinely carries out "stress tests" to check whether the banking system can withstand extreme financial shocks.Its latest one was conducted in November, when it said a 33% fall in house prices could occur in a worst-case scenario. Several reports said that the Bank governor also told the Downing Street meeting tha...
Hurricane Florence could kill 'a lot of people'

Hurricane Florence could kill 'a lot of people'

World
Media playback is unsupported on your device Hurricane Florence, which is nearing the US East Coast, could kill "a lot of people", officials warn.The Federal Emergency Management Agency (Fema) says storm surges could bring catastrophic flooding to inland areas.Nearly 1.7m people along the coastlines of North Carolina, South Carolina and Virginia have been ordered to evacuate.Strong winds and heavy rains have already begun lashing North Carolina's coastline, leading to some early flooding.Some 11,000 power outages had already been reported in the state. Reuters news agency reports.Latest updatesFlorence was 155 miles (250km) east of Myrtle Beach in South Carolina at 17:00 EDT (21:00 GMT), and is projected to make landfall on Friday at 08:00 loc...
Smarty pants: Robot trousers could keep the elderly mobile

Smarty pants: Robot trousers could keep the elderly mobile

Science
Johnathan Rossiter proudly displays his new trousers. Brightly coloured and fit for the running track, but packing more than just Lycra. They'll be robotic."We are all going to get older and our mobility is going to reduce," he says. "What we want to do is give people that extra bit of boost, to maintain their independence as long as possible."A team of British researchers thinks the future lies in wearable soft robotics. They've developed robotic muscles; air-filled bubbles of plastic that can raise a leg from a seated to a standing position.Getting this technology into the trousers might be 10 years away, but it is set to give that added boost to our ability to stand and walk when we need it most.Who wears the trousers?Prof Ros...
'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...
Could Nasa's James Webb Space Telescope detect alien life?

Could Nasa's James Webb Space Telescope detect alien life?

Science
If it does launch as currently scheduled in 2021, it will be 14 years late. When finally in position, though - orbiting the Sun 1.5 million km from Earth - Nasa's James Webb Space Telescope promises an astronomical revolution. The US space agency boasts that it will literally "look back in time to see the very first galaxies that formed in the early Universe".As if those claims were not bold enough, scientists have now surmised that the eventual successor to the world famous and beloved Hubble Space Telescope may - thanks to its 6.5m golden mirror and exquisitely sensitive cameras - have a another extraordinary talent. The JWST, as it is called, may be able to look for signs of alien life - detecting whether atmospheres of planet...