Eideard

A record surge in confidence among business professionals indicates Britain’s recession is at an end.

Optimism among professionals in the third quarter hit its highest level since the start of the financial crisis two years ago, the Institute of Chartered Accountants in England and Wales (ICAEW) said.

The confidence measure jumped to 4.8 at the end of June from -28.2 in March – the biggest improvement since the survey began in 2003. The institute predicts that the economy will grow by 0.5% this quarter, breaking five quarters of falling output.

ICAEW chief executive Michael Izza said the findings suggest that “the UK recession is at an end”…

Asian shares advanced strongly today on fresh optimism over the global recovery, following upbeat comments from US Federal Reserve chairman Ben Bernanke and news that Thailand has come out of recession.

“We seem to be on our way to the moon today on Ben Bernanke’s coat tails,” said David Buik at BGC Partners.

The ICAEW survey showed that UK businesses expected a rise in all but one of 14 key financial performance indicators in the coming year, in contrast to earlier in the year when most were expected to contract.

Monty Python fans will know about Chartered Accountants. Just picture a blend of your least favorite CPA and Attila the Hun.

As the 2008 Olympics passed their halfway point, Beijing residents looking upward began to notice something new. The sky has changed from a dull beige to a bright blue. At night, countless luminous points flicker through the darkness above.

Xinhua, China’s official news agency, reports that the city’s air pollution index – which measures atmospheric pollutants and their health effects – showed a reading of 43, up from 23 the previous day but still within the “excellent” range of 1 to 50.

By comparison, a US east coast city would have an index level of about 10 to 20, according to The Wall Street Journal…

According to Xinhua, Beijing’s government has spent more than $20 billion since 1998 on projects to improve the city’s air quality. In recent months, the city has frozen construction projects, shut down quarries, and reduced steel production. Beginning July 20, the city began banning cars in the city on alternate days…

Although some are dubious about Beijing’s measurement standards, there’s little doubt that China’s efforts have noticeably cleared the air. The Knight Science Journalism Tracker – a journalists’ blog that tracks science stories – notes the paucity of coverage of Beijing’s sudden improvement, and hopes that the city’s reprieve from smog will be more than temporary:

Gee, you don’t think xenophobia or the “easy” populist headlines left over from the Cold War might have something to do with that?