We mustn’t let the EU referendum narrow our view of the City’s global opportunities February 29, 2016 Only 115 days to go. The EU referendum has been a huge story since well before the date was announced and now we have months of campaigning before polling opens. In fact, so dominant has the referendum been recently that the world outside Europe has been almost overlooked by the media. I’m writing this column [...]
The City has nothing to fear – and much to gain – from Brexit February 29, 2016 The UK’s continued membership of an increasingly hostile EU is putting the City at risk. The EU is an important market but its significance has been waning. In 2005, 39 per cent of our exports in financial services, pensions and insurance went to the EU, but this has now fallen to 33 per cent. By [...]
With mortgage rates heading towards 1 per cent, should we be worried about a bubble in the market? February 29, 2016 Scott Corfe, director at the Centre for Business and Economic Research, says Yes. Most of the house price growth seen in the UK over the past couple of years has been fundamentals-driven. Supply of new homes simply hasn’t caught up with demand. However, one does wonder if we are now veering into bubble territory – particularly [...]
Everton takeover: Are the club really worth £200m? A former director explains what Farhad Moshiri will consider February 27, 2016 As the club’s Commercial Director, I helped Everton to achieve their aim of becoming one of the 20 richest clubs according to the annual Deloitte Football Club report. It was felt that, by attaining this position, Everton would be attractive to prospective purchasers. That was ten years ago, and they have still not found a buyer [...]
Gianni Infantino’s victory means little – Fifa has shown few signs of cleaning up February 27, 2016 If you believe the hype out of Zurich, you’d think that Fifa has turned the corner. The ‘bad guys’ are gone. There’s new management. And Fifa has had a Damascene conversion to good governance, transparency and accountability. Wrong. Wrong. Wrong. The overwhelming emotion for many when Gianni Infantino won the ‘beauty contest’ of the Presidential [...]
Ignore the scaremongers: America wouldn’t abandon Britain post Brexit February 26, 2016 Much as was the case for Harold Wilson in the 1970s, Prime Minister David Cameron accomplished next to nothing in terms of renegotiating the UK’s ties with the EU. Sadly, if predictably, Cameron’s allies have again copied the Wilson playbook, attempting to make up for their diplomatic failure by scaring the bejesus out of the [...]
Negative interest rates are a bad idea – even if they do stimulate the economy February 26, 2016 Negative interest rates are the economic hot topic du jour. The Bank of Japan recently moved to join the club of central banks that charge commercial banks for depositing excess reserves. The European Central Bank, already a member of the Negative Interest Rate Policy (NIRP) club, is widely expected to drag rates deeper into negative [...]
Helicopter money won’t save us: We’ll only revive global growth if governments lead from the front February 26, 2016 The rhetoric from the G20 finance ministers meeting in Shanghai this week will probably be dominated by urging central bankers to do more to give an ailing global economy a fillip. But they have leant on central bankers for too long and should get on with adopting sensible fiscal policies if they want sustainable growth. [...]
BT Openreach ruling: Has Ofcom done enough to ensure broadband competition? February 26, 2016 Dana Tobak, managing director of Hyperoptic, says Yes. Yes – for now. Ofcom has rightly focused on the key areas of change required to promote investment in fibre and to support true product competition for consumers. By keeping structural separation as the potential “naughty step”, Ofcom has ensured that Openreach should be compelled to partner in [...]
Help to buy could be worsening London’s housing crisis and driving young people out of the capital February 25, 2016 Are you tired of London? Want to move to a quieter, cheaper part of the country? If so, you’re not alone – every year, thousands of people quit the city in search of a more tranquil existence. However, they tend to be replaced by a new wave of incoming urbanites, typically young people attracted by London’s [...]