How the dark arts of advertising are shaping the UK’s election campaign February 19, 2015 You have been warned (Source: Conservatives, Facebook) “Your worst nightmare just got worse,” warns the headline on one of the latest Conservative Party election posters, painting a picture of Ed Miliband and Alex Salmond united in guffawing victory on the steps of Number 10. A Labour/SNP coalition would mean “chaos” for the UK, say the [...]
MPs are dangerously blurring the line between tax avoidance and evasion February 19, 2015 Never before has tax avoidance – legally arranging your affairs to lower your tax liability, as distinct from the illegal practice of tax evasion – been used as a political weapon in such a high profile way. In the last week, we’ve had it all: smears, claims and counter-claims, and Ed Balls, the man who [...]
Forget Greek misery: Why Europe is turning a corner thanks to structural reform February 19, 2015 AN OBSERVER coming to study “Europe” with fresh eyes and an open mind might well conclude that there is only one game in town: the ongoing negotiations between Athens, Brussels and Berlin over the Greek bailout. Clearly, the outcome is vitally important for the people of Greece, the Greek government’s credibility, and that of the [...]
Is the UK defence secretary right that Russia is a danger to the stability of the Baltic States? February 19, 2015 Andrew Foxall is director of the Russia Studies Centre at The Henry Jackson Society, says Yes This is nothing new – and has little directly to do with events in Ukraine. Russia has been destabilising the Baltic States for much of the last decade. In 2007, it was behind a series of cyber attacks on [...]
HSBC needs to re-learn its ABCs, or better still, its KYCs February 18, 2015 PLAC, CRD-4, the FCA and the PRA: but for HSBC, the most important acronym in the banking lexicon right now is KYC (Know Your Customer). Since inheriting the reins of Europe’s largest bank four years ago, Stuart Gulliver has rarely been out of his firefighter’s overalls. On many of those occasions it was the bank’s [...]
The sea change in private banking: Why HSBC is right about the industry February 18, 2015 The HSBC revelations have been coming thick and fast this past week, and the bank has had to go so far as to apologise for its previous behaviour. It has been adamant that things are now different and that the transgressions of prior years are history. The real question is, can we take them at [...]
It’s time the City – and the UK – show support for a capital markets union February 18, 2015 Few people have anything good to say about the European economy. The pipes, they say, are clogged up – and even if they can be unblocked, they are rusting away. Brussels is normally seen either as a blockage, or as a hapless plumber who can’t figure out a solution. But work is progressing in Brussels [...]
Creaking mindsets: Why businesses are about to learn some hard lessons February 18, 2015 Are we experiencing a revolution in the way that organisations operate? A recent essay in the Harvard Business Review has caused a stir by claiming that we are. The authors, Jeremy Heimans and Henry Timms, draw a distinction between institutions that are defined by “old power” and “new power.” The former rely on the exclusive [...]
Ringing the changes: Why Britain’s retail bond market has life in it yet February 17, 2015 The London Stock Exchange (LSE) is celebrating the fifth anniversary of its Order Book for Retail Bonds (ORB) today. The trading platform enables retail investors to buy and sell corporate bond issues. Corporate bonds should be an important asset class for retail investors. They generally offer higher interest rates than many bank and building society [...]
Mass immigration must become a feature in the debate about inequality February 17, 2015 Inequality is now a buzzword in Britain. Scarcely a week goes by without a new publication by an academic or journalist lamenting the levels of poverty facing swathes of the population. And they are bolstered by a complicit metropolitan liberal elite, who shed crocodile tears for the poor, while ruminating on the current situation. Unfortunately, [...]