Barroso warns on protectionist pressures

In a recent interview with the Financial Times, European Commission President José Manuel Barroso addressed the major economic issues facing Europe in 2008, including environmental matters and the global economic situation. With respect to the US credit crunch and its potential impact on Europe, Barroso said, ‘there is no rational reason to fear a recession in Europe.’

This article also contains links to video selections of the interview.

(from the Financial Times)

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Business travellers face UK tax trap

Starting next year, business travellers who travel regularly to Britain may risk finding themselves classified as tax-residents, if current proposals from the UK government are passed into law. According to the proposals, anyone spending an average of more than 90 days per year (inclusive of travel days) in Great Britain will be officially considered a tax resident, and thus be liable for income taxes.

This article is a must read for anyone who does business in the UK.

(from the Financial Times)
 
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The rise of China and India

A radio interview with Tarun Khanna, professor at Harvard Business School and author of the recently published ‘Billions of Entrepreneurs: How China and India are reshaping their future and yours’.  He discusses the ‘world changing’ relationship between these two rising giants and their impact on the global economy. He describes both countries as ‘a raw ferment of entrepreneurship… making it up as they go along, and doing spectacularly well.’

(from On Point Radio)

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Does education in Europe inhibit entrepreneurship?

In this controversial article, Stefan Theil, Newsweek’s European Economics correspondent looks at how education in France and Germany reflects and affects the culture’s views about capitalism, globalisation, and entrepreneurship. His conclusion is that European education is ‘highly biased’ against business, which creates challenges that are especially difficult for entrepreneurs. Theil, who is German, observes that ‘twice as many Germans as Americans tell pollsters that you should not start a business if you think it might fail. According to the European Union’s internal polling, just two in five Germans and French would like to be their own boss, compared to three in five Americans.’

Not everyone will agree with Theil, but most will find this article provocative and enlightening.

(from Foreign Policy magazine)

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Virgin announces first biofuel flight

Virgin Atlantic recently announced the first flight of a commercial aircraft using only biofuel.  The Airbus A380 flew from the UK to Amsterdam using a mixture of coconut and babassu oil.  Hailed by some as a major step forward in the development of clean aviation, many environmental groups reacted skeptically, calling the flight ‘a gimmick’ and a ‘publicity stunt’, noting that the cultivation and harvesting of plants for biofuels is just as damaging to the environment as the pollution from petroleum-based fuels.

(from the BBC)

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And you?  What news stories are you following this week?