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CUT-AND-PASTE NEWS
The Nobel prize for economics was awarded to American professors Robert E Hall and Michael Woodford, for their work on the “microeconomic foundations of macroeconomic stabilisation”. Messrs Hall and Woodford developed economic models used by banks and governments when designing policy to reduce the impact of damaging shocks—such as energy crises—on the economy.
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At least 250,000 demonstrators in France marched through Paris, Marseille, Lyon, Rennes, Toulouse and other cities, mainly to protest against a lack of investment in education. The protests, led by school pupils but joined by parents, teachers and unions as well as elements of the populist-left, have been building since mid-September, and are often accompanied by arson and vandalism. The police have responded with tear-gas and baton charges. Sébastien Lecornu, the prime minister, accused the populist-left of fuelling the violence. The protesters’ calls for more public investment come amid efforts by the government to control the budget deficit, and as bond markets punish France for its fiscal irresponsibility.
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Israel ordered the British consulate in Jerusalem to formally end its operations, part of the government’s retaliation against Britain for imposing sanctions on Israeli interests in the West Bank. But in a deal between the two countries the consulate will change its status to “uk Mission” and diplomats will be allowed to continue working there.
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