One hundred years ago today, President Woodrow Wilson approved the Harrison Narcotics Tax Act, the US’s first national legislation designed to control the manufacture, import and supply of opium and cocaine.
OUR WORLD is full of third parties – the people and organisations that regulate and manage our interactions. The financial world is particularly replete: conduct authorities, prudential bodies, central banks.
IN RECENT years, the UK has traded more with Ireland than all of the Bric nations (Brazil, Russia, India and China) put together. That fact has been rolled out regularly by our politicians over the past few years.
Yesterday, the Bank of England’s Monetary Policy Committee (MPC) announced a wide-ranging package of reforms to its meetings, processes and communications. The objective is sound – to enhance accountability and transparency.
John Griffith-Jones, the chairman of the FCA, said last night that the regulator’s botched briefing to one media organisation, which went disastrously wrong and resulted in causing mayhem on the stock market last March, was well-intended.
The mayor of London and potential future Conservative leader and Prime Minister, Boris Johnson, has joined the army of voices against America’s controversial global tax law, the Foreign Account Tax Compliance Act (FATCA).
The Japanese proverb “nanakorobi yaoki” roughly translates as: fall over seven times and stand up eight. It urges perseverance, and may be some comfort for Japanese Prime Minister Shinzo Abe ahead of this Sunday’s election.
By the time the last of the chocolates have been foraged from the Advent Calendar, or thereabouts, WPP, the giant advertising group run by Sir Martin Sorrell, will very likely have chosen a new chair for the company’s board.
IT’LL be a busy week for the Financial Conduct Authority (FCA). Yesterday, the regulator announced a new strategic approach for the organisation, with key personnel changes and a “sharper focus” on the challenges ahead.
As Labour, we believe that the prospect of Britain leaving the EU poses the biggest risk to British national prosperity in a generation. That is why Labour will continue to make the case for reform in Europe, not exit from Europe.
It may not be as exciting as an iPad or as romantic as jewellery, but George Osborne’s Autumn Statement last week was in many ways business’s equivalent of Christmas, with rewards for some – and coal for others.
The nights may be drawing in, but this time of year is still about hope shining in darkness. The latest Autumn Statement seemed the other way around: thick with uncomfortable truths beneath Osborne’s despatch-box bravado.
Azad Zangana, European economist at Schroders, says Yes.
The 2015 outlook for the Eurozone is precarious. Governments are continuing with austerity, while business surveys suggest a downturn is on the horizon.
George Osborne is the consummate tactician. With 153 days to go to the election, there’s only one thing on his mind, and that’s how to breeze past opposition parties on the journey back to Downing Street. And who can blame him?
DESPITE higher short-term borrowing, the chancellor presented an Autumn Statement in which the deficit is back on track over the medium term and a surplus is achieved by the end of the next Parliament.