We need a campaign for Living Costs – not for a Living Wage – to really help the poorest November 2, 2015 It's “Living Wage Week”. For seven days, the Living Wage Foundation’s campaign for employers to pay workers at least £8.25 per hour (or £9.40 in London) receives almost wall-to-wall coverage. Campaigners line up to tell us raising pay to this level is good for business as well as employees. Many large firms, most of [...]
Britain’s creative industries can be even greater – if we learn to understand their true value November 2, 2015 The Oscar-winning film producer Lord Puttnam recently warned of a “worrying fall in investment” in the arts, news and drama on television. This comes at a time when the future of both the BBC and Channel 4 is under debate and public sector funding of the arts is threatened by yet another round of cuts. [...]
As it pushes back a decision on its domicile, would HSBC be better off moving its headquarters out of London? November 2, 2015 Darius McDermott, managing director at Chelsea Financial Services, says Yes HSBC gets 70 per cent of its revenue from Asia and, given it expects to get most of its future growth from this region, it seems common sense that the bank should be based there. On top of this, the UK political environment remains hostile [...]
EU referendum: Don’t be stupid, the US won’t cut Britain adrift post-Brexit November 1, 2015 I held the UK/Europe brief at one of the major Washington, DC think tanks for eight arduous years. Every manner of European statesman trooped through my door, invariably trying to use me to leverage the US to do something they thought was in their country’s interests. Of course, my senior staff and I were [...]
Creating wealth, giving back: Highlights of my year as the lord mayor of London November 1, 2015 This is my final City A.M. column as lord mayor – in less than a fortnight, I’ll hang up my hat, pass on the chain, and watch the removal van pull up outside Mansion House. But what a fantastic year it’s been! It’s the one job in the world where I have felt that absolutely [...]
Insurers must harness the internet of things to regain customer trust November 1, 2015 The insurance industry has the privilege of playing an integral and valuable role in society – we protect for today and invest for the future. Our customers can go about their daily lives without fear for the financial consequences when things go wrong, while we help them to save to build their future financial security. [...]
With the FTSE 100 flat since January, will a Santa Rally bring festive cheer to investors in the index? November 1, 2015 Chris Beauchamp, a senior market analyst at IG, says Yes. Sell in May and go away is an adage that investors never tire of repeating. But perhaps they would be better served by learning “buy in October and hold until New Year”. Seasonal trends indicate that the final quarter is the best period for the [...]
London’s cabbies can’t afford to live in the past October 30, 2015 During last year’s Black Cab protest against Uber, one bit of news footage stood out. A cabbie was being interviewed on camera, explaining that Uber’s behaviour was unacceptable and unfair. Behind his seat, attached to the dividing screen between driver and passenger, was a sign that read “cash only”. This pigheaded refusal to join the [...]
We need to measure well-being to reverse Britain’s social decline October 29, 2015 It was only two-and-a-half years ago that an economic statistic threatened to kill off George Osborne’s economic strategy. There was speculation that the British economy might have shrunk in the first quarter of 2013. When the Office for National Statistics did announce – at 9.30am on Thursday 25 April (remember how some of us used [...]
US elections 2015 polls: Why both parties are putting their faith in the worst candidates out there October 29, 2015 Even after Wednesday night’s CNBC Republican Presidential debate – during which senator Marco Rubio (FL) and senator Ted Cruz (TX) unquestionably dominated the discussion with their wit, direct answers and rounds of applause – the unofficial polls still declared Donald Trump the winner for a third time in a row. Couple that with last [...]