Trumpmania has gone global – and it’s undermining liberalism the world over December 10, 2015 As if total domination of the US media wasn’t enough, presidential candidate Donald Trump has managed to get his name splattered over every global news outlet for the past three days. It normally requires an extraordinarily inspirational, or devious, act to justify that kind of international attention and – to be fair to the press [...]
It’s time the UK competition watchdog showed its teeth and cracked down on free banking December 10, 2015 From small challengers and fintech upstarts to larger disruptors such as Virgin Money, the world of banking is slowly starting to evolve with the times. The industry is ripe and ready for disruption and I want to see UK banking opened up to the full force of true competition. The UK’s competition watchdog, the Competition [...]
EU referendum vote: There’s nothing unpatriotic about wanting to remain in the European Union December 10, 2015 Britain faces its most important choice in a generation in the coming referendum on whether the country should remain in the EU. It is vital that campaigners, on both sides, base their case on facts and sober arguments. Which is why it was frustrating to read the anti-EU tirade yesterday of Alex Story, director of [...]
London airport expansion: With a “final” decision on Heathrow pushed back to the summer, will a third runway ever be delivered? December 10, 2015 John Holland-Kaye, chief executive of Heathrow, says Yes The Airports Commission, established by the Prime Minister, made an unanimous recommendation after a two-and-a-half-year, £20m study – the deepest ever into UK aviation capacity. It confirmed Heathrow will deliver up to £211bn in economic benefit for the UK, while reducing noise for local communities and keeping [...]
Banks are still betting on blockchain over bitcoin December 10, 2015 Bitcoin is back in the limelight, with speculation again swirling around the mysterious identity of the creator of the world’s biggest cryptocurrency. Intense media coverage caused a spike in the bitcoin price, following the publication of parallel investigations by tech news sites Wired and Gizmodo into the identity of the founder. In Wired’s own words: [...]
EU referendum: The European Union is falling apart: Why is getting out the risky option? December 9, 2015 “You see but you do not observe”, says Sherlock Holmes to Dr Watson. This point could be levelled at the EU referendum Remain camp. The EU institutions are cracking. For myriad reasons, national governments are reasserting themselves for good or for ill. A quick tour of current EU member states paints the picture of a [...]
Happinomics 2.0: Rising incomes make us happier but it’s fulfilment that really counts December 9, 2015 First, a quick lesson in the economics of happiness. Back in the mid 1990s, the so-called Easterlin Paradox stated that there was little or no correlation between happiness and average income, beyond very modest levels of income. This became a cardinal rule for the many who wished to justify ever-higher rates of taxation on those [...]
‘Tis the season to slack off: Why your month-long Christmas holiday is bad for everyone December 9, 2015 "I will be out of the office travelling and attending events and seminars until 4 January 2016. I will only have intermittent access to email.” I received this remarkable auto-reply on 4 December from a senior marketing executive in a large bank. Unless you are an academic, why would you need to spend an [...]
After Brent crude dipped below $40 per barrel, do we have anything to fear from lower oil prices for longer? December 9, 2015 James Butterfill is head of research & investment strategy at ETF Securities, says Yes The risk with a lower oil price lies in its combination with Fed/Bank of England rate rises. Loan delinquencies in the energy sector are likely to rise as rates go up. The most recent oil and gas survey from IHS highlighted [...]
Be thankful the UK’s political system would deny Donald Trump access December 9, 2015 Back in 2012 a right-wing social conservative named Rick Santorum was seeking the Republican nomination for US President. He didn’t get it. His legacy, however, is that his name has (in some circles, at least) come to mean something quite specific. As a backlash to his views on homosexuality, an internet campaign was launched to [...]