London by night
[RE: Tube could run until 2am, says transport boss, Thursday]
Last week’s announcement that London Underground will run extended weekend Tube services is a boon for businesses across the capital. It is also positive for businesses like Addison Lee, as we also benefit from Londoners being able to get around at busy times. Like everyone in London, I wish that we could introduce the changes right now, rather than wait until 2015. The greatest city in the world deserves the greatest transportation network. And it is exactly this sort of initiative that can help unlock economic growth and boost enterprise in the capital.
Liam Griffin, managing director, Addison Lee
[RE: Seven reasons to like the plc model of company ownership, Friday]
The public company model is essential. But it is also worth looking at the venture capital market, which seems to facilitate a short-term strategy in the UK (build a company up, then cash in when it is ready to float). This model hinders innovation, instead favouring short-term profit. Contrast how companies are financed in Germany. Its banks take a comprehensive view of financing enterprise. They provide more funding, and also take a longer-term view. This is one of the (many) reasons why Germany keeps developing new technology, and German corporates are such successful exporters.
BEST OF TWITTER
The boss of Barclays should have taken his bonus. It’s up to shareholders, not the public, to set the “tone” of his bonus.
It is hugely embarrassing for David Cameron to have the difference between borrowing and debt explained to him.
Employment is stagnant, wages are falling, growth contracting, and institutions are failing. Yet the markets are booming.
David Cameron visited Libya? Well I guess his holiday options with EU leaders have pretty much run out.
Readers of City A.M.