The Libor trial could be a turning point for SFO July 5, 2016 The UK's fraud squad has had a rough ride in recent years. Wave after wave of criticism has battered its modest West End headquarters, especially since the botched investigation into property tycoon Vincent Tchenguiz. Just over four years have passed since the Serious Fraud Office (SFO) admitted that there were “no longer reasonable grounds” for pursuing [...]
There’s no need for a messy divorce: Europe should “consciously uncouple” from Britain July 5, 2016 Sitting in Gatwick’s departure terminal on the afternoon of Friday 24 June felt a bit like leaving a car crash before the ambulance arrived. Hours earlier I was standing in front of a plunging sterling-dollar chart reporting live that Sunderland voted Leave by a much wider margin than expected. The journalist in me was anxious [...]
Let’s embrace the new opportunities for prosperity Brexit has opened up July 5, 2016 Although we were on opposing sides of the Brexit debate, one the employment minister and the other an asset manager in London, there is one thing we are in absolute agreement on: Britain has opportunities ahead and there is a job to do to ensure the country becomes as great as it can be. We [...]
London needs a seat at the decision-making table to make Brexit work for the capital July 5, 2016 London is, and always will be, open for business. Once, we were the world’s largest port – from which ships traded around the globe. Over the last century, we grew to become the world’s most competitive financial centre. And now, as we face the challenges thrown up by the result of the referendum on our [...]
Fintech can thrive outside the EU – if we remain in the Single Market July 5, 2016 The result of Britain’s EU referendum shocked many in the business community. It has left the country with a caretaker government, an opposition in disarray, and no clear roadmap for a post-Brexit UK. In March, we surveyed our startup members on Brexit and found that 80 per cent supported Remain. This was consistent with many [...]
With Nigel Farage off the scene, will it be easier to reach a compromise with the EU on free movement? July 5, 2016 Rachel Cunliffe, deputy editor of CapX, says Yes. Nigel Farage posed in front of a Brexit poster featuring a road of migrants with the caption “Breaking Point”, in what has become an iconic image of the campaign. He has blamed immigrants for everything from the strain on the NHS to traffic on the M4. And after [...]
Brexit shines a light on pensions timebomb July 4, 2016 As the economic landscape shifts in the wake of the referendum, one of the most dramatic impacts has been on defined benefit, or final salary, pensions. In the days following the vote, liabilities in defined benefit schemes ballooned, causing deficits to widen. According to early estimates, the rise in liabilities could have increased the deficits [...]
On your bike, Britain: How to get the best post-Brexit deal July 4, 2016 After the exhilaration of the last week, the political realities of leaving the European Union have hit Britain with an almighty thud. Rather than focusing on using their wonderful new-found freedom to unveil a foreign and trade policy fit for the multi-polar world, the Conservatives have instead contented themselves with fighting like ferrets in a sack [...]
There’s no reason London can’t stay the number one global financial centre outside the EU July 4, 2016 The chancellor’s press conference last week reassured the markets in a volatile period. He said that the UK economy faces these fresh economic challenges from a “position of strength.” This is a point I have reiterated many times over the past few days, when visiting the economic hubs of Dallas and Chicago. The most frequently [...]
Britain’s entrepreneurs can look forward with definite optimism to a better world outside the EU July 4, 2016 Peter Thiel, founder of two billion dollar companies (Palantir and Paypal) and early-stage investor in Facebook, argues that two questions determine your approach to life’s challenges. First, are you an optimist or a pessimist? Second, are you definite (a clear plan for the future) or indefinite (hedging your bets)? In sharp contrast to the focus [...]