The EU has left it too late to do the right thing over the refugee crisis – and now Brexit looks like the less risky option March 11, 2016 Angela Merkel was cast as the heroine of the refugee crisis last year, bravely throwing open Germany’s borders to desperate masses attempting to cross the Mediterranean. By contrast, David Cameron and the UK more broadly was cast as the villain. Lurid (and false) claims we had taken in only around 200 refugees added colour to [...]
Is the proposed price cap for pre-pay customers an unwelcome intervention in the energy market? March 11, 2016 Tim Worstall, senior fellow of the Adam Smith Institute, and author of Chasing Rainbows: Economic Myths, Environmental Facts, says Yes. Of course the Competition and Markets Authority’s (CMA) intervention is unwelcome: any price fixing whenever would be. The entire point of a market economy is that prices change to balance supply and demand. Price fixing, by [...]
Trust London Stock Exchange shareholders to make right decision over Deutsche Boerse bid March 10, 2016 The clock is ticking on what could be the final bourse mega-merger for a very long time. Certainly, if Deutsche Boerse succeeds in its bid to combine forces with the London Stock Exchange, it will create a European behemoth to rival American giant CME group. This outcome would leave the financial world with four enormous [...]
Business and the unions: We both back a third Heathrow runway – now get on with it March 10, 2016 We often read in the press about the latest bust-up between the unions and the business community. Yet there are any number of policies we agree on, especially those that help to deliver high-skilled quality employment and sustainable growth. Equally, we both get disappointed when the government falls short of the mark, particularly when the [...]
It’s Waterloo for the global economy – and we’re dangerously lacking reinforcements March 10, 2016 What has 1815 and the Battle of Waterloo got to do with 2016 and the world economy? On 18 June 1815, the Duke of Wellington could feel the battle slipping away, but he also knew the Prussians under General Blucher were coming and that could win the day. Fast forward to 2016 and there is no [...]
Three ways London can remain the fintech capital of the world March 9, 2016 London is the fintech capital of the world. Readers of City A.M. will no doubt nod with approval while reading through the key findings of the government's recent report demonstrating just how successful the capital is. From diverse international talent to specialist fintech investors, and an especially supportive policy environment, London is an out-and-out winner. But [...]
Aldi, Ocado, Morrisons, Tesco and Sainsbury’s are all making moves to win market share, but Asda’s next step is unclear March 9, 2016 The latest supermarket sales data has painted a slightly less gloomy picture than has become customary for Britain's big four grocers, hinting that the billions poured into lowering prices and luring back customers might finally be paying off. Despite a brutal price war that has savaged Tesco, Asda, Sainsbury’s and Morrisons, data from Kantar has shown [...]
Three reasons why the government will struggle to secure a good exit deal if Britain votes to leave the EU March 9, 2016 The path from now until referendum day on 23 June will be dominated by what is the most important debate our country has faced in a generation. There will undoubtedly be a fair amount of emotive rhetoric, and quite rightly so. But it is equally important that the conversation be anchored in rational argument: let’s hope [...]
The trouble with the IMF: Missing one crisis is understandable, missing three is a disaster March 9, 2016 The International Monetary Fund (IMF) has played a prominent role in world financial affairs in the post-Second World War period. In the 1950s and 1960s, its main purpose was to support the system of fixed exchange rates. Since then, its activities have evolved to embrace developing economies and both banking and sovereign debt crises. The [...]
Both shoppers and workers back Sunday trading reform: It’s an historic opportunity to help save the high street March 9, 2016 Today, MPs have an important chance to shape the future of our high streets. In the first major opportunity of its kind since 1994, the House of Commons will vote on Sunday trading reform, which could ultimately extend Sunday opening hours and allow consumers more time to shop. High streets all over the country are [...]