Lessons from New York: Bigger is no longer better in the new world of ambitious scaleups May 17, 2016 Every business is a hypothesis based on a bet. And if you want to bet big, grow small. That’s the lesson I learned on a recent visit to New York to meet the scaleup businesses aiming to become tomorrow’s titans. Of course, think New York and you think big. The Big Apple, big business and [...]
After it hosted a major Osborne speech, is Ryanair risking its own reputation by openly backing Remain? May 17, 2016 Michael Jacobides, associate professor of strategy and entrepreneurship at London Business School, says Yes. At a time of heightened political sensibility and populist bashing of “big business”, it feels risky for a corporation to take a clear stance on a key political debate. Brexit campaigners have already targeted Mark Carney for taking a view, despite [...]
The decadence of Europe’s dismal elites is fuelling the populist surge across the EU May 16, 2016 “In the end more than freedom, they wanted security. They wanted a comfortable life, and they lost it all – security, comfort, and freedom… When the freedom they wished for was freedom from responsibility, then Athens ceased to be free and was never free again.” – Edward Gibbon on the fall of Athens As I have [...]
The City needs to talk about mental health to combat this silent plague May 16, 2016 Today marks the start of World Mental Health Awareness Week, during which the spotlight will be turned on an important issue that for too long has been relegated to the shadows. Across the world, hundreds of millions of people are affected by mental health conditions. Here in the UK, for example, one in four people [...]
Why purpose is key to success in twenty-first century business May 16, 2016 How should businesses make decisions? The textbook answer is to do a calculation – to trade off the costs and benefits. For investment decisions, this is difficult, because the benefits are uncertain. But for tangible investments, such as building a factory, you can still get a reasonable handle on the benefits – estimate the number [...]
Yes, a Brexit holds many risks – but this wave of dystopian warnings is failing to convince voters May 16, 2016 The IMF’S Christine Lagarde painted an apocalyptic picture of life for the UK outside the EU. As she finished her speech on Friday, she smiled and said “have a lovely weekend.” The response from the Remain campaign was probably “thanks very much, we will.” Meanwhile, the Brexit lobby was left reeling from her assessment that the [...]
Why this year’s votes against exec pay are not just a knee-jerk reaction May 15, 2016 As the world’s largest investment fund, Norway’s £590 billion oil fund is an unusually forward thinking animal. Well known in asset management circles for its stance against companies involved in the production of tobacco, nuclear weapons and most recently coal firms, the fund has announced that it will target executive pay which it deems excessive. [...]
When you’re Making your Mind Up about your referendum vote, remember that Eurovision is nothing to do with the EU May 13, 2016 It’s that time of year again when parties are held, often with the campest of costumes, much drink is consumed, and we laugh, cheer and argue in equal measure. But wait! It’s only May. It’s not Halloween, Hogmanay, or even a bank holiday weekend. What is this new tradition in our annual calendar of escapist [...]
Is the IMF right that a vote to leave the EU would lead to sharp drops in share prices? May 13, 2016 Aengus Collins, country forecast director at the Economist Intelligence Unit, says Yes. Volatility in the UK’s financial markets would unquestionably surge in response to a vote to leave the European Union. Although the medium-term economic impact wouldn’t necessarily be dramatically worse than the baseline, the immediate aftermath of a leave vote would potentially be brutal. The [...]
Ignore the costumes, the Eurovision Song Contest is serious business May 13, 2016 Eurovision isn’t all fun. It’s serious business, too. SVT, Sweden’s national broadcaster has set aside a budget of £11m for this year’s show. But the cost of Eurovision has been larger-still for some countries. Vienna, last year’s hosts, spent £28m while the Baku extravaganza of 2012 cost an eye-popping £48m. Even participating can be prohibitively [...]