Real Madrid top Deloitte Football Money League as Champions League revamp boosts Premier League’s rivals
The death of cash, the rise of trade unions and other eclectic 2017 predictions December 21, 2016 It’s certainly been an eventful year. But rather than dwell on the past, what sort of things can we expect in 2017? Here are a few eclectic predictions. Sweden may become the world’s first cashless economy. Notes and coins are already fast disappearing as a means of payment, and retailers are legally entitled to refuse to [...]
Save the date: the last Spring Budget will be on 8 March 2017 – before Article 50 December 20, 2016 The next UK government Budget announcement will take place on 8 March 2017, before the government triggers Article 50, the Treasury has announced. Prime Minister Theresa May has outlined plans to notify the EU of the UK's intention to leave by the end of March 2017. Official negotiations with the EU will then commence. Philip [...]
Donald Trump could be the “wildcard” to upset Asia growth in 2017 says Goldman Sachs December 20, 2016 Donald Trump could be a “wildcard” for economic growth across Asia in the coming year, according to Goldman Sachs. The President-elect’s apparent protectionist policies could harm nations relying on exports to the US, but his likely fiscal stimulus is set to drive US growth higher, the bank says in its 2017 macroeconomic outlook. “For a [...]
Single Market access is top priority for EU businesses after UK leaves EU, while 58 per cent see Brexit as a threat December 20, 2016 Access to the UK as part of the Single Market is the highest priority for European businesses in the upcoming Brexit negotiations, a new survey says. Single Market access is the most important factor for 29 per cent of EU businesses with UK operations, according to a poll of 700 business leaders by accountancy firm [...]
The Nikkei 225 hits 2016 highs and the yen weakens as the Bank of Japan holds interest rates steady December 20, 2016 The Nikkei 225 reached its highest point for over a year and the yen fell against the dollar as the Bank of Japan (BoJ) confirmed that it would hold interest rates as widely expected. The BoJ’s Policy Board maintained its stance of negative interest rates, keeping the rate at minus 0.1 per cent. It also [...]
2016: A post-mortem of the year the UK’s “economic experts” failed December 20, 2016 The end of a calendar year and the start of a new one provides a chance for reflection. For the UK’s economic establishment, particularly forecasters, introspection is more appropriate. Complete with their New Keynesian models, most have been proven utterly wrong so far that voting for Brexit would lead to a short-term downturn. As the most [...]
How to make the UK an innovation nation December 20, 2016 Prime Minister Theresa May intends to start 2017 with a flurry of policy announcements including apparently unveiling what Nick Timothy, her co-chief of staff, called “a more long-term and strategic approach to economic and industrial policy” in an article he published before he re-joined government. Industrial strategy is back. This is very welcome. But how does [...]
Weary RBS investors demand £1bn in compensation for 2008 rights issue disaster December 20, 2016 More than 27,000 RBS shareholders nearly wiped out in the bank’s 2008 rights issue are due compensation of up to 94.5p in the pound, or more than £1bn, according to an independent report commissioned by the investors and seen by City A.M. The shareholders, part of the RBS Shareholder Action Group, are heading to court [...]
Fiver producer Innovia Group sold in meaty £680m deal with Canadian giant December 20, 2016 Here's another big deal worth, ahem, noting: Innovia Group, supplier of the Bank of England’s new plastic five pound note that has come under fire for containing animal fat, has been snapped up by a Canadian label and packaging maker in a CA$1.13bn (£680m) move. The UK-based company makes specialty bi-axially oriented polypropylene films used for [...]
Diverging forecasts on inflation and GDP from leading economists point to uncertain times for the UK December 20, 2016 Following a year in which British people have allegedly “had enough of experts” – or should that be “soothsayers and astrologers”? – it is a brave economist who will venture a guess at where we will be in 12 months' time. But that is what three prominent economists have done for the Economic Research Council. [...]