South Africa’s tragic unravelling is the last nail in the coffin for the Brics March 31, 2016 There is no better example of the spectacular fall of the Brics concept than the tragic unravelling of South Africa’s hopes to finally make the world’s economic top table. Despite being blessed with abundant natural resources and having miraculously weathered the transition from the hateful system of apartheid to multi-ethnic democracy, South Africa is one [...]
What it’s like being transgender in the City March 30, 2016 Thursday marks International Transgender Day of Visibility – a day to celebrate and recognise the achievements of trans people – and a time when I reflect on my own time in the City. I have worked in financial services throughout my career and thought it would have to take a backseat when I made the [...]
Why we should worry about the Three O2 merger March 30, 2016 It won’t have escaped your notice that Three and O2 want the path cleared for a £10.5bn merger. Even with the owner of Three – Hutchison – proposing to keep O2 operationally separate, it would still leave Three/O2 with a 40 per cent market share. Ofcom has sounded alarm bells, and been uncharacteristically vociferous in its opposition. While [...]
Let’s bust the myth that women don’t like risk: It’s confidence, not appetite for risk, that women lack March 30, 2016 Among the most patronising, persistent myths about women is our supposed dislike of risk. It’s all over the world of business and finance – and is especially pernicious when it comes to looking at women and their financial security. An abundance of personal finance articles chide women for their risk aversion. “Cautious women risk running [...]
As George Osborne introduces yet more changes to the pensions system, what incentive is there for people to keep saving? March 30, 2016 What has the government got against pensions? Its confusing and ever-changing stance toward saving for retirement, particularly with regard to higher earners, will be thrown into sharp relief next week. On 6 April, the lifetime allowance for total contributions made to pension pots comes down again, from £1.25m to £1m. In 2006, the year it [...]
The crucial lesson China teaches the West about bank lending – and economic growth March 30, 2016 So, The Financial Times has finally questioned the wisdom of using QE to purchase good assets. You’d have thought that someone would have noticed the effect by now: new money for old assets just pushes up their price. To hope it creates a “wealth effect” and engenders confidence is a bit perverse. If bank lending [...]
Why Scotland’s fiscal fantasy will leave it high and dry if we vote for Brexit March 30, 2016 A short visit to the Highlands last week was refreshing. The scenery is just as spectacular as ever, and the people just as welcoming. But elsewhere in Scotland, the tectonic plates are shifting. Last week, a televised debate took place among the political leaders contesting the elections to the Scottish Parliament in May. It resembled a [...]
The Budget bombshell sugar tax may force fizzy drink manufacturers to make changes March 30, 2016 For all the headlines about the Budget in the past couple of weeks, there was one policy announcement that could have a major impact on brands – the sugar tax. Campaigners such as Jamie Oliver celebrated the move, hailing it as an important step in the fight against child obesity. Soft drinks company bosses are [...]
As the ECB prepares to ramp up QE this week, should it be doing even more to boost growth in the Eurozone? March 30, 2016 Vicky Pryce, who is a board member of CEBR, on City A.M.’s shadow MPC and author of Greekonomics (Biteback Publishing), says Yes. When Mario Draghi revised his forecast for the Eurozone economy down from 1.7 per cent to just 1.4 per cent, he made it clear that risks remained on the downside – reflecting world [...]
Cyber security: Why the EU General Data Protection Regulations will be game changing for unreported cybercrime March 29, 2016 A report by the Institute of Directors (IoD) and Barclays recently highlighted that one quarter of organisations had suffered a breach in the last twelve months, although only 28 per cent had reported it to the authorities. It is believed that the actual numbers of attacks could be higher. The fact is that there are still a large number [...]