Heathrow has always been the answer – now there’s finally the political support for expansion December 6, 2015 UK infrastructure projects don’t tend to be speedy. Plans for a railway linking Paddington station to the City of London and the docks were approved by Parliament in the 1880s – but Crossrail will only be fully operational in 2019. William Gladstone, as chancellor of the Exchequer, was presented with a proposal for a tunnel [...]
After several warnings over energy supply, should Britain expect blackouts this winter? December 6, 2015 Lord Redesdale, head of the Energy Managers’ Association, says Yes. I wholly expect blackouts or brownouts this winter. Last year, there was a capacity margin of just 1.5 per cent in London. Last month, National Grid asked firms to reduce their power demand immediately, issuing a demand-side balancing reserve (DSBR) notice. This was in the [...]
Venezuela’s socialists are staring at defeat ahead of this weekend’s election December 4, 2015 People in Venezuela were asked, earlier this year, to name any “very big problems” in their country. Eighty-four per cent cited a shortage of basic goods. Eighty-two per cent said crime. Three quarters referred to healthcare, which is little surprise given that Venezuela’s hospitals are in crisis. Even less surprising is the fact that, topping the [...]
The US buyback frenzy should worry investors everywhere December 3, 2015 Twenty-five years ago, when I first started in the City, I remember share buybacks being viewed as a sign of weakness, a policy of last resort once all other growth options had been exhausted. To be fair, it was already a more established trend in the US, corporates there having shifted from a predominantly “retain-and-invest” [...]
How David Cameron can expand London’s Heathrow Airport without breaking his third runway pledge December 3, 2015 As the week draws to a close, there is some consternation that the anticipated government ruling on airport expansion, with ministers due to decide whether or not to reject the Airports Commission’s recommendation for a third runway at Heathrow, has – for obvious reasons – been deferred. Many business leaders have voiced their frustration. In [...]
City beware: The Serious Fraud Office has got its mojo back December 3, 2015 There have been times when the performance of the Serious Fraud Office (SFO) has left many, especially those in the City, with the impression that it is not fit for the purpose for which it was designed. Critics have had no shortage of ammunition: the SFO’s history is littered with controversy, criticism and setbacks. The [...]
As Opec members gather in Vienna, has the group now lost its influence as the world’s oil cartel? December 3, 2015 Norbert Ruecker, head of commodities research at Julius Baer, says Yes All eyes are on today’s Opec meeting as oil markets have seemingly hit a pothole, with prices dropping more than 4 per cent this week. However, it seems that Opec’s influence as an oil cartel is waning, along with prices. Although the meeting is [...]
Broadcast media moving closer to workplace equality with recent high-profile appointments December 3, 2015 Broadcast media has not always been a bastion of gender equality. Even now, it is common for TV shows to be presented by a septuagenarian, suited man, flanked by a smiley younger woman. And then, far more seriously, there are the extremely unsavoury stories – and court cases – that have exposed shocking conduct by [...]
The UK needs to better insure itself against the cyber-terrorism threat December 2, 2015 In the week after the devastating atrocities in Paris, the chancellor announced that infiltration of our online infrastructure ranks alongside “guns, bombs and knives” as a terrorist threat against which the UK needs urgently to defend itself. Elevating cyber-terrorism in such a public manner, backed up with commendably generous financial resources for our security services, [...]
The OBR deficit conundrum: Why all is not necessarily rosy in George Osborne’s fiscal garden December 2, 2015 The office for Budget Responsibility (OBR) finds a £27bn improvement in the public finances” is the message that many will have taken away from last week’s Autumn Statement and Spending Review. Combined with the deficit (PSNB) moving into surplus at the end of the forecast period, and the fall in total public spending as a [...]