Cheap money: Reports of the death of cash have been greatly exaggerated May 28, 2015 A landmark proposal has seen the Danish government consider ending the obligation of retailers to accept cash, a global first, with the implication that paper notes and coins could soon lose their grip on their status as legal tender. Figures from the Payments Council released last week, meanwhile, showed that cashless transactions have overtaken the [...]
As the Fifa corruption crisis continues, should sponsors be considering pulling back cash? May 28, 2015 Roger Barker, director of corporate governance at the Institute of Directors, says Yes Matters have come to a head at Fifa. The investigations and accusations that have been circulating for years have become charges and indictments. Sponsors have expressed concerns several times, but it is now time for those who pour millions into Fifa’s coffers [...]
Reforming UK executive pay is tortuous, but worthwhile May 27, 2015 Like electing a boss of Fifa whose surname isn’t Blatter or extracting an apology from Thomas Cook, reforming executive pay in the UK is a tortuous process. Vince Cable, the last Business Secretary, had a decent stab at it, introducing a binding vote on pay policies which yielded initial dividends in recalcitrant boardrooms. [...]
Queen’s Speech 2015: Let’s hope the Tories are saving the radicalism for the Budget May 27, 2015 We were told we’d never see such a sight again. Majorities were a thing of the past, they said, and coalition politics was here to stay. And yet there it was yesterday – resplendent in all the finery and pageantry that the British state can muster – a legislative programme for a majority Tory government. [...]
Eight reforms to position Britain for the coming Asian consumer revolution May 27, 2015 We live in a truly exciting age. In the first half of the twenty-first century, the world economy could triple in size. By 2050, two-thirds of the top 30 economies are likely to be those classified as emerging today. And by 2050 the seismic shift will have only just begun. The potential sevenfold increase in [...]
As a new corruption scandal hits Fifa, is the world footballing body now unsalvageable? May 27, 2015 John Williams, senior lecturer in sociology at the University of Leicester, says Yes We need a new governing body for the world game. News of the latest allegations of bribery at Fifa is not really news at all – merely the continuation of an all-too-familiar tale, a destructive narrative which has been running for decades. [...]
Britain needs an industrial strategy – and it doesn’t mean picking winners May 26, 2015 The Queen’s Speech today will outline how the new Conservative government will put the contents of its pre-election manifesto into practice. It will contain many measures, including an EU referendum bill that will attract a lot of attention. But the big question is this: how will the new government meet the tax and spending commitments [...]
Central planners don’t get incentives – but markets can be faulty too May 26, 2015 Perhaps the most enjoyable outcome of the General Election is the abuse now being heaped on the metropolitan liberal elite from many quarters. Theirs is truly a difficult mindset to comprehend, based as it is on an unshakeable belief in their own omniscience. Yet this is confounded on an almost daily basis by the response [...]
EU referendum: London banks may flock to Dublin but Brexit wouldn’t be all positive for Ireland May 26, 2015 If the UK leaves the EU, the impact will be felt far beyond its borders. Indeed, one country that will be particularly affected is Ireland. In the short term, there will be a painful economic dislocation, as the two close trading partners adjust to the UK’s new status. But it could be far more positive [...]
As Ryanair’s profits soar, are analysts right to attribute it to its new customer-friendly policy? May 26, 2015 Milorad Ajder is managing director of the Ipsos Mori Reputation Centre, says Yes The penny dropped for Ryanair when it was forced to issue a profit warning in September 2013. Until then, it had prospered on the back of a no-nonsense offer, where price was the only thing that mattered to customers. All well and [...]