As the FOMC meets this week, is it now imperative that the US Fed starts hiking interest rates? December 13, 2015 Didier Saint-Georges, managing director at Carmignac, says Yes There are good reasons to be worried by the Fed’s rate rise, as growth remains very shaky everywhere, including in the US. Janet Yellen is obviously acutely aware of this economic fragility, and we would hope she isn’t fooled by headline employment numbers. But the case for [...]
Cashless society: Why businesses need to wake up to the rise of the digital future December 11, 2015 The news that card and electronic transactions have overtaken cash as the UK’s preferred method of payment is a watershed moment for the nation’s businesses. As people increasingly choose their digital wallet over their leather one, any company, no matter what their size or sector, must get ready for a cashless future that is [...]
Bottling airport decision is bad for UK business and casts doubt over new infrastructure commission December 11, 2015 What exactly was the point of the Airport Commission? That was the question being asked last night by, among others, IoD boss Simon Walker. Having launched in 2012, the commission reported earlier this year after an extensive and exhaustive investigation into Britain’s airport capacity. The exercise cost £20m and was designed, in part, to remove [...]
Why the war on buy-to-let will make the UK housing crisis worse December 10, 2015 Landlords sighed with relief at the Conservative victory in the General Election in May. Faced with the threat of rent controls from the Labour Party, they had looked forward to a government that accepted the importance of the rental market, and supported its development while properly targeting the crooks renting out sub-standard accommodation. But [...]
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 [...]