Davos: Businesses will wither and die if they ignore the coming technological paradigm shift January 20, 2016 It might be tempting to think that the World Economic Forum (WEF) in Davos this week is a talking shop where nothing meaningful happens. You have 2,500 people in the mountains going from presentation to reception to dinner for three days. But the event is a vital way for business, policy-makers and civil society to [...]
China is drowning in private sector debt: There’s no telling how this one will end January 20, 2016 The eyes of the financial and economic worlds are now fixed on China, with focus predominantly on Chinese stock markets and the country’s GDP figures. A fascinating perspective was provided last week in the leafy borough of Kingston upon Thames. The university there has recruited the Australian Steve Keen as head of its economics department, [...]
As Penguin scraps degree requirements for all jobs, should other employers follow suit? January 20, 2016 Maggie Stilwell, managing partner for talent at EY, UK & Ireland, says Yes. To modernise the workplace, fit for the present and future, major employers must take a long hard look at their recruitment processes, which are often outdated. With many citing a skills shortage as a major threat to their growth plans, it’s time to cast [...]
Elites need to beware of angry anti-EU voters January 19, 2016 One of the main criticisms of the European Union is that it is a project of the elites. Such a view is not hard to justify. Just look at the contempt with which the EU holds public opinion. On the night of the 2005 French referendum on the proposed EU Constitution, Jean-Claude Juncker (then Prime [...]
India holds rich opportunities for the City – if we sustain reform momentum January 19, 2016 The deep cultural, economic, political and social bonds between the UK and India are longstanding. But this week the partnership between India and the UK will reach another significant milestone, as chancellor George Osborne and the finance minister of India meet in London for their latest bilateral Economic and Financial Dialogue to discuss priorities for 2016. [...]
Fourth industrial revolution? Davos 2016 faces the same old problems January 19, 2016 As if the third week of January wasn’t depressing enough, it is time for us to haul ourselves back to the snowy mountain town of Davos and the World Economic Forum (WEF). This year, WEF founder Klaus Schwab wants us to think about “Mastering the Fourth Industrial Revolution”. Fourth industrial revolution? For me, any mention of “industrial [...]
As Francois Hollande announces an economic state of emergency, is France finally facing up to its sick man of Europe status? January 19, 2016 James Sproule, chief economist at the Institute of Directors, says Yes. Francois Hollande’s plan to confront France’s stubborn unemployment rate shows the President is more than aware that the status quo is unsustainable. The French model works if you are already in a job, but not for those on the outside, especially younger workers. Hollande can [...]
Labour’s latest attack on private enterprise January 18, 2016 There’s a popular game called Cards Against Humanity that shocked and delighted families around the table this Christmas. The idea is simple: one card contains the fairly innocuous opening part of a sentence and a second card is then offered that completes the phrase in a particularly vulgar, amusing and random fashion. Hilarity ensues. The [...]
The terminal flaw at the heart of Saudi Arabia’s low oil strategy January 18, 2016 “If people want to know who I am, it is all in the work.” – Alan Rickman Like everyone I know with a soul, I find myself in genuine mourning for the great British actor Alan Rickman, who died last week. It is impossible for me to think of anyone who brought me as much [...]
Green finance: The City is in a unique position to help business tackle climate change risks January 18, 2016 The City has been around since 1189, which is long enough to learn about the importance of long-term value. Nowhere is this truer than sustainability and the environment, where uncertainty, in the shape of climate change and finite natural resources, lurks just around the corner. We must take action if we are to protect business against [...]