Has Labour under Jeremy Corbyn become completely irrelevant? September 28, 2016 Alex Deane, managing director at FTI Consulting and common councilman in the City of London Corporation, says Yes. While I’m a Tory, there’s no schadenfreude for me in answering “yes” to this. Our country needs a strong opposition; while Jeremy Corbyn continues to lead Labour, we do not have it. Legislation which should be challenged goes [...]
Supermarket wars: Sainsbury’s move to eat rivals’ lunches could turn sour September 28, 2016 British supermarket giant Sainsbury’s recently changed the terms of its lunchtime meal deal offering – much to the dismay of many customers. It decided to remove its more expensive “taste the difference” sandwiches from the deal, and has rebranded the lunchtime option to “on the go”. The move was met with bewilderment on social media [...]
Stuck in a rut? Here’s how to help the Brits who feel left behind September 28, 2016 England cricketer Stuart Broad was lambasted last year when he tweeted: “I’ve heard if you earn minimum wage in England you’re in the top 10 per cent earners in the world.” What was no doubt intended to be an innocuous observation prompted a wave of outrage on social media from people furious that a wealthy [...]
Even domestic banks will suffer if Britain pursues a hard Brexit September 27, 2016 During his farewell speech to the Ukip party conference, Nigel Farage identified his three key objectives for the government’s impending Brexit negotiation. In addition to his demand that the UK reclaim control of its fishing waters, Farage called for the country to leave the Single Market and for the reintroduction of blue British passports. While [...]
Is Donald Trump right that the US economy is in “a big, fat, ugly bubble”? September 27, 2016 Neil MacKinnon, global macro strategist at VTB Capital, says Yes. US financial markets are in a bubble, courtesy of the Fed’s long-running ultra-easy monetary policy. Equity markets are at record highs and at extreme valuations, even though US corporates are still in a profits recession. Credit markets are exhibiting 2007-style excess leverage and commercial real estate [...]
Too many young people are wasting their time by studying poor degrees at university September 27, 2016 It’s an exciting time of the year for many young people, with some setting off to university for the first time and others starting to polish their applications for next year. Good news if you have been accepted to read economics at Cambridge, say, or business studies at Oxford. A survey by the Sunday Times shows [...]
Second chance for BHS? An open letter to David Anderson, managing director of the newly online-only retailer September 27, 2016 Dear David Anderson, Whether it’s BHS or Woolworths, we all love a good phoenix from the ashes story, especially when it involves a great British brand. News that BHS is to be reincarnated online has been met with a cautious welcome. Cautious because the challenges ahead are considerable: in addition to the reputational damage the [...]
Clinton and Trump’s dismal debate performances laid bare America’s perilous divisions September 27, 2016 “I have a son who’s 10, he’s so good with computers.” – Donald Trump, when asked about US cybersecurity weaknesses (The American Republic is) “under siege by a moron.” – Bruce Springsteen, when asked about Donald Trump Well, it was just as weird as had been anticipated. The estimated 100m Americans who tuned into the [...]
The great fall of China: If the Chinese economy sinks, it’ll take Britain down with it September 27, 2016 Forget the chatter around the economic risk posed by Brexit, for a more dangerous spectre looms: China’s massive debt pile and the potential for a painful slowdown in the Asian powerhouse. Former chief economist of the International Monetary Fund, Ken Rogoff, said yesterday that a slowdown in China is the greatest threat to the global [...]
City Giving Day: Community investment is a win-win for business and society September 27, 2016 UBS has operated a community investment programme in London for over 30 years. Never has it, and others like it, been more relevant. The relevance is driven by need; by the state of the UK and indeed of the world today; and by the now demonstrable proposition that companies undertaking such activity benefit both themselves [...]