There was a sickening feeling of déjà vu when Thai operator SSI last week announced that it is halting production at the Redcar plant, only five years after riding to the rescue when Indian giant Tata mothballed it in 2010. Overshadowed by the VW scandal, and a world away from the centre of power in London, the latest blow to the steel industry in the North-East has received relatively little media attention.

BT yesterday launched a full-throated defence of its current structure by outlining the great benefits it could bring to Britain in the coming decade. The former telecoms monopoly, facing the possibility of being broken up by the regulator, also outlined changes to customer service, internet speeds and broadband rollout.

The car industry is a totem, a key element of its self-image as the eurozone's virtuous manufacturing hub. It is by far the biggest car maker in Europe, producing around half of total vehicles by value and around 52 per cent of total components, according to Professor Garel Rhys, president of the Centre for Automotive Research at Cardiff University. The country has thrived by selling premium cars and white goods, with customers prepared to pay extra for prestige and reliability.

As a private company BT has been far more adventurous and innovative that it could ever have been in the public sector. But it still acts as if it has the God-given right to be Britain's dominant telecoms company. Open Reach is a constant source of complaint from competitors such as Sky and TalkTalk. BT will try to address some of this today with the roll out of its new super-fast broadband offering, G.fast.

More is needed to change, durably, the culture of finance and the functioning of markets. Restoring society's trust is not a nice-to-have, it is a must-have. So now is a good time to take a step back. Are markets delivering for the economy? Are the regulatory changes coherent? How should we interpret recent episodes where markets suddenly gum up amid worries about Greece or China? Will financial innovation and technology be game-changers?

Imposing more regulation risks making business less competitive and deterring investors from injecting capital to support UK companies, the economy and the collective creation of national wealth. Too many rules and regulations restrict the freedom and enterprise of all companies. Investors and the public need reassurance that standards are high, and that they are observed by everyone. The perception in some parts of the City is that regulators are too tough on companies, and too weak on individuals.

If the global economy slows down sharply, interest rates could be expected to stay at their historic lows for even longer. The risk of households becoming dangerously indebted would be even worse. It may as yet be unlikely, but I would be more comfortable if there was a better answer to this risk than 'it will probably never happen'.

To those of a certain age, Algy Cluff is a name to conjure with. Cluff was one of the pioneers of North Sea oil, making some of the first discoveries and so helping kick-start the boom there. For those prepared to take risks, his latest venture, Cluff Natural Resources, is worth a look. Make no mistake, this is at the moment a tiny company, with a market value of just £7.5million, and it made a loss of £745,000 in the six months to June.

It's all part of the firm's plan to reduce its groaning debt and boost profits. Under pressure from investors, copper output in Zambia and the Democratic Republic of Congo is to be suspended for 18 months. The Switzerland-based firm also axed full-year and interim dividends and said it would sell £1.3bn of assets.

As a top cop he managed to get Yorkshire Ripper Peter Sutcliffe to admit to two more attacks, and as Tony Blair's drugs czar he resigned over the weakening of the classification of cannabis. At Sports Direct he has been responsible for keeping founder and executive deputy chairman, Mike Ashley, in line, while ensuring the firm adheres to the very best practice expected of a London stock market-listed firm.

One of the biggest games of 'will they, won't they?' in recent economic history continues to intrigue global markets. Investors know it's only a matter of time before Janet Yellen and co must raise the cost of borrowing from its historic lows. Nevertheless, it has become almost impossible to second guess when this might happen.