London / Bloomberg UK Chancellor of the Exchequer George Osborne must do more to back up the economic case for expanding Heathrow Airport, the chairman of Parliament’s Treasury Committee said. Lawmaker Andrew Tyrie wrote to Osborne for a second time after what he described as the chancellor’s “curious” explanation for stonewalling questions included in a January 25 letter. Osborne’s reply, …

You cannot understand the vulnerable state of the US and global economies — and nervous stock markets — without coming to grips with the crash of “emerging-market” countries. Led by China, these are middle-income countries that, along with the poorest countries, account for 85 percent of the world’s population and 60 percent of the global economy, according to Christine Lagarde, …

Uzbekistan tightly controls its currency, in the past year allowing it to depreciate very gradually. Officially, the Uzbek som has avoided the rapid and massive depreciation experienced by the Kazakh tenge, for example. But, unofficially, as Olim Abdullayev wrote for bne Intellinews this week, it’s a whole different story. On the Uzbek black market the som sits at 6,200 sum …