How I will demolish the barriers slowing down London’s digital growth June 15, 2015 DIGITAL technology is changing the world, but the pace of change is still breathtaking. In three years, Airbnb amassed as many hotel rooms as the Hilton dynasty did in a century. Ten years ago, Twitter didn’t exist – now it has over 300m users. And Spotify adds over 20,000 tracks to its 30m-strong music library [...]
As its day of reckoning nears, should Greece accept that it’d be better off outside the euro? June 15, 2015 Sam Bowman, deputy director of the Adam Smith Institute, says Yes Greece could probably stay in the Eurozone if it had either substantially lower government debt or substantially higher economic growth. But its economy has shrunk by over 0.6 per cent in the past two quarters, and is expected to continue to shrink this year. [...]
If we cap immigration, the UK will lose its status as a global hub for science and engineering June 15, 2015 John O’Keefe, the UK’s latest Nobel Prize winner, has a lot in common with Venki Ramakrishnan, the next President of the Royal Society. First, they are similarly brilliant scientists and Nobel Laureates. O’Keefe was a joint winner last year for his discovery of cells that act as our inner GPS system, enabling us to [...]
Work stress can be seriously damaging to your mental health: Here’s how to tell if it’s making you depressed June 15, 2015 You tell yourself it’s OK and that it happens to everyone, particularly in the City. There's nothing unusual about feeling stressed, particularly when things have been difficult in the office. But it isn’t OK, and work shouldn’t be making you feel down. Ideally, it should be psychologically stimulating and rewarding. Too often it is [...]
Why Turkey will be the first of the emerging market dominoes to fall June 14, 2015 Like a lion ambling out of the mists of the Serengeti in search of its first meal of the day, first-rate political risk analysts must possess the sixth sense of always looking for the weakest water buffalo. Delving beneath the happy talk and self-serving comments governments invariably put about regarding their countries’ economic prospects, they [...]
The City needs smarter regulation – not the stability of the graveyard June 14, 2015 The City of London was firmly in the spotlight last Wednesday with the speeches given by the chancellor and governor of the Bank of England at Mansion House. Aside from the government’s sale of shares in RBS and Royal Mail, behaviour – or more specifically misbehaviour – in the City was the subject that dominated [...]
With no deal on the cards, would the Eurozone be able to contain contagion from Greek exit? June 14, 2015 Dr Holger Schmieding, chief economist at Berenberg, says Yes. The Eurozone won’t let the turmoil of 2011-2012 happen again. It has spent the last three years strengthening its defences against contagion risks. Systemic contagion through sovereign bond markets is now highly unlikely. Investors know that the European Central Bank is the reliable buyer of last [...]
Turning around Tower Hamlets: How John Biggs can transform the reputation of the rotten borough June 12, 2015 The voters of Tower Hamlets have been to the polls, and with Labour’s John Biggs elected as the new mayor, there might finally come the opportunity to turn the reputation of this beleaguered borough around. Lutfur Rahman was elected mayor of Tower Hamlets in 2010, during his tenure his detractors have accused him of [...]
Don’t teach entrepreneurship in schools – let us take our own risks June 11, 2015 As George Osborne prepares for next month’s Budget, he will already have told his speechwriters to provide a strong section on supporting entrepreneurship. The Conservatives made strong play throughout the election campaign of the importance of startups for the country’s future. David Cameron went so far as to say it was the willingness of entrepreneurs [...]
Don’t fear an increasing minimum wage – it helps the country’s poorest June 11, 2015 The great challenge for the government over the next five years is to raise productivity and living standards, while also continuing in its efforts to cut the deficit. Significant reform to planning, skills, tax and regulation will all be necessary. But one regulation which should not be abolished is the National Minimum Wage (NMW). When [...]