Oxfam would rather make us all poorer than feed the world January 22, 2018 In the film Groundhog Day, the protagonist is trapped in an infinite time-loop, constantly repeating the same experiences over and over again, each time hoping it will be the last, yet never seeming to learn the lesson. The 2018 Oxfam report on inequality has been released today with much fanfare, and, just like those before [...]
The narrative is shifting – it’s now time to rekindle trust in business January 22, 2018 As business leaders face fire on everything from executive pay to labour standards and tax avoidance, the temptation can be to hunker down and keep out of the fray. It is only natural to want to avoid high-profile debate for fear of criticism. The problem is that managed retreat is not a strategy for rebuilding [...]
London and Israel are working together to advance the industries of the future January 22, 2018 It looks as though 2018 will be a fast-paced and important year for the UK. This week, I leave for my first overseas visit of the new year, to promote all the UK’s financial and professional services industry has to offer the world. I will be heading to Israel, where I will be promoting London [...]
Trust in business bosses jumps as social media become the biggest bogeymen January 22, 2018 Business leaders have enjoyed a surprise turnaround in public trust, according to a prominent survey of Britons’ faith in institutions – although social media companies have become the new bogeyman. The credibility of chief executives has improved by 14 percentage points during the last year, with 42 per cent of more than 3,000 Britons surveyed [...]
UK leads the pack as Europe hits its highest level of buyout activity since 2007 January 22, 2018 In a year which saw Brexit negotiations grind on while a number of European countries held elections, private equity activity in Europe hit a decade-high. Private equity firms completed 919 buyouts of companies in 2017, up 19 per cent year-on-year and the highest number since 2007’s 1,000 deals, according to Unquote data. The UK drove [...]
Troubles at Steinhoff prompt private equity bidders Advent, Apax, Bain, CD&R, CVC and KKR to circle Poundland January 21, 2018 Speculation over the future of Poundland has attracted a pack of prospective private equity bidders ready to snap up the discount retailer. Buyout giants including Advent International, Bain, Clayton Dubilier & Rice, CVC and KKR are sniffing around the company in the expectation that it might soon be sold by its disgraced South African parent [...]
Centre for Policy Studies blasts Labour’s nationalisation vow as a “£176bn gamble” January 21, 2018 Labour’s plans to nationalise core industries would add at least £176bn to the UK’s national debt, the equivalent of £6,500 per household, a new study suggests. According to the free-market Centre for Policy Studies (CPS), nationalising the energy and water sectors would cost £55.4bn and £86.25bn respectively, while the price tag attached to bringing Royal [...]
National security concerns prompt government to scrutinise Melrose’s hostile £7.4bn bid for GKN January 21, 2018 National security concerns mean turnaround firm Melrose will now have to jump another hurdle if it is to proceed with its £7.4bn bid for engineering giant GKN, as the government revealed that it is scrutinising any potential deal. Melrose was already battling with GKN’s board as the bid went hostile, and has been attempting to [...]
UK Prime Minister Theresa May warned over knee-jerk executive pay reform after Carillion collapse January 21, 2018 Theresa May was warned today not to make knee-jerk reforms to executive pay following the collapse of Carillion. The Prime Minister has vowed to introduce “tough new rules” on pensions after the contractors collapsed leaving a multimillion pound deficit. She also said top bosses could face fines if they fail to protect workers’ pensions. However, [...]
A tale of two economies: Data to show slower UK GDP growth as European Central Bank acknowledges Eurozone boom January 21, 2018 Economists expect new government data this week to show UK growth slowed down last year, as the European Central Bank (ECB) adjusts to a Eurozone pulling further away in a tale of two economies. Forecasts collected by the Treasury show independent economists expect GDP growth to hit 1.7 per cent for 2017 overall in figures [...]