EU referendum: Brexit threat doesn’t explain economic woes May 13, 2016 June 24th will be a day of revelation. Depending on your perspective, London will either be freed from the shackles of a sclerotic European Union, or the fog of uncertainty will be lifted by a Remain vote, triggering a flood of welcome investment. Those are the cheery viewpoints, at least. Striking a less positive note, Bank [...]
Standard Life sleepwalks towards a pay revolt May 13, 2016 First Schroders, now Standard Life: it’s turning into a season of grand City institutions firing bullets into their own feet. Fresh from the calamitous handling of Michael Dobson’s elevation to the chair at Schroders, its Scottish-based peer is making an even bigger pig’s ear of a process it should be able to navigate in its [...]
Pharma is failing to spread the word about the millions of lives it saves May 13, 2016 Traders and canny investors take a keen interest in spread – the difference between the buy and sell price on any given market. They know that whatever they buy must bridge this gap before they can make a penny. Spreads are wider on stocks that are infrequently traded and, if they get too wide, traders [...]
Will Brexit knock house prices? Not in prime central London May 13, 2016 In a bid to sway voters, George Osborne is predicting Armageddon in every economic sector as the collateral damage of Brexit. This week he pointed the finger at property prices, predicting a significant dampening if the UK votes to leave. The chancellor is correct that the property market does stall in the face of investor uncertainty, [...]
Was the government wrong to avoid radical reform of the licence fee in the BBC’s new Royal Charter? May 13, 2016 Tim Worstall, senior fellow at the Adam Smith Institute, says Yes. The government has rather whiffed the opportunity to radically overhaul the BBC and the licence fee. The first should be privatised and the other abolished, of course. Back when broadcasting was solely free to air, and thus limited by available spectrum, there was at least [...]
The UK government must remember to tackle corruption at home as Cameron’s anti-corruption summit gets underway in the wake of the Panama Papers May 12, 2016 The Prime Minister's invitation to representatives of other governments to attend an Anti-Corruption Summit in London looked like a good idea when he announced it a year ago. Before, that is, he chose to insult two of the guests. The gaffe has already drawn quick rebuttals from the two countries, with the Nigerian President claiming [...]
Credible deterrence: What is the real cost of FCA Enforcement proceedings? May 12, 2016 The financial services industry faces ever-more intrusive regulatory scrutiny and tougher penalties. Financial Conduct Authority (FCA) fines reached £1.4bn in 2014. This compares with just over £89m in 2010 and only £7.5 million in 2002. However, fines are not the only cost of an FCA enforcement intervention – reputation damage can be far more painful. [...]
Making it harder to become a citizen will not solve the net migration problem May 12, 2016 Seen from the government’s point of view, the pathway to citizenship for immigrants to Britain should be as tough as possible. Since Theresa May became Home Secretary, a host of measures has been introduced to make the route from arriving to citizenship harder than it has ever been. The cost of citizenship in Britain is [...]
Open data: London is streets ahead when it comes to helping commuters plan their journey – but we mustn’t become complacent May 12, 2016 Whether we’re trying to navigate around traffic jams or route closures, find the quickest way to a meeting or explore a new area of the city, many of us rely on technology to identify the best route to take. Transport and navigation apps have been allowed to flourish in London thanks to the availability of real-time and static [...]
Sadiq Khan will need to be radical in his thinking to solve London housing crisis May 12, 2016 The election of Sadiq Khan as London's new mayor neatly demonstrates what makes London a great city. Through his victory, Khan highlights that London is a city of opportunity where success is not dependent on a privileged upbringing. However, the attraction of London – thanks to its thriving economy and its ability to attract talent – [...]