BBC Business - Peston's Picks
News and Topical Debate from the BBC's Robert Peston
Is the Treasury understating pension liabilities?
Belatedly, I've got round to looking at the Treasury's recent decision to change how it calculates the necessary contributions that have to be made to cover the future costs of unfunded public service pensions.
My interest was sparked by a letter sent to the chancellor by 23 pension experts, organised by the consultant John Ralfe. They argue that the Treasury has made a mistake in its choice of a new so-called discount rate.
If you think this is tedious abstruse stuff that has no relevance to you, think again. The aggregate...
Aircraft carrier costs to rise by at least a billion (again)
The cost of Britain's controversial new aircraft carriers is set to rise by at least £1bn, and perhaps almost £2bn, as a result of the government's decision taken last October to make them compatible with different aircraft than those originally envisaged.
I have learned that the working assumption of the contractors on the project, which are BAE Systems, Thales UK and Babcock, is that the carriers will now cost taxpayers some £7bn in total, compared with the £5.2bn cost disclosed by...
The corporate story behind GDP challenge
A clutch of big company results today illustrate the big economic trends in the UK and the world - and also say something about what the UK economy needs if its insipid recovery is to become something a bit stronger.
First the good news.
ARM, the world-leading designer of electronic chips for smartphones, tablets and consumer devices, saw revenues rise 29% in the first three months of the year and profits increase 35% (to £51m).
If we had a few more ARMs in this country, we would be agonising less...
Oligarch says will sell to BP at right price
My colleague Tanya Beckett has conducted a rare and fascinating interview with Viktor Vekselberg, one of the billionaire oligarchs who co-own TNK-BP with BP - and who have fallen out with BP over BP's desire to form a business relationship with Rosneft, Russia's largest energy group, which would involve BP and Rosneft taking stakes in each other.
It implies, perhaps for the first time, that there may be a solution to a dispute that has damaged BP's reputation and jeopardised...
- We're all gulled by special offers
- The end of EMI is nigh?
- Bankers seek deal with ministers on bonuses
- The perilous condition of Portugal's banks
- What's a fair contribution from multinationals?
- Can the eurozone afford its banks?
- What the UK is contributing to Ireland
- Germany wants punitive interest rate for Ireland
- What losses for lenders to Irish banks?
- Why the Treasury won't illuminate 2010 bank pay