People & Business: Crying wolf
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.MORGAN STANLEY Dean Witter's latest note on UK economics and strategy is headlined "Crash Landing Was False Alarm".
The title does not just refer to the CBI's April Industrial Trends survey, which shows a sharp recovery in UK manufacturer's optimism. It also reflects the experience a week ago of Kevin Gardiner, head of the economics team at Morgan Stanley. For Mr Gardiner was on the BA flight from San Francisco to London which announced that it was "about to make an emergency landing on water."
Mr Gardiner recalls: "I do remember ... noticing we were still over land. But I had to take the announcement at face value. My heart beat went from very slow to very fast."
Happily the pre-recorded message was revealed as a mistake 30 seconds later. Mr Gardiner thinks there is a link here with the way the CBI "cried wolf" about the British economy last year, only for its latest survey to show the sharpest rebound in its 30 year history.
Its a smooth ride from now on for UK equities, according to the Morgan Stanley team.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments