The EU is turning its back on capitalist virtues just when it needs them most October 28, 2014 IS THERE a secret Leninist cell operating at a high level in the European Commission’s headquarters in Brussels? One which is dedicated to the overthrow of the capitalist structures of the European Union? The evidence from this past week is certainly consistent with this hypothesis. The demand for an additional £1.7bn payment from the UK [...]
Lloyds branch closures are just the start: The UK is dramatically over-banked October 28, 2014 IT MIGHT be an uncomfortable truth for many to hear, but the UK is dramatically over-banked for the digital age. There are a little less than 10,000 bank branches across the UK, far fewer than the approximately 38,000 in France, for example. But for the UK, this is still too many. Lloyds Bank seems to [...]
As National Grid warns of a winter electricity capacity squeeze, is UK energy policy to blame? October 28, 2014 Matthew Sinclair, an economist and author of Let Them Eat Carbon, says Yes. The UK’s energy sector used to do quite a good job of delivering affordable and reliable energy. Politicians then made a number of interventions which increased costs and reduced reliability. First came obstacles to the construction of new coal capacity, then the [...]
Why embracing freer trade could be our best chance to help the world’s poor October 27, 2014 WITH one simple policy – more free trade – we could make the world $500 trillion better off and lift 160m people out of extreme poverty. If there is one question we have to ask ourselves, it is: why don’t we? In 2000, the international community agreed a set of important targets to improve the [...]
Still lovin’ it? McDonald’s shows why a minimum wage hike is no free lunch October 27, 2014 McDonald's has been a major target for US protestors advocating a significant minimum wage hike. A multi-billion dollar company with a recognisable global brand, it has faced a high-profile campaign from those frustrated with low wage rates. Mandating higher wages for McDonald’s workers would not lead to job losses or cuts to hours, protestors argued. [...]
Why companies fail when success becomes routine October 27, 2014 The corporate landscape is littered with companies like Tesco, HP and Sony. Once business trailblazers, they have somehow become pedestrian and their performance has suffered. But why didn’t they spot the signs before their market share and profits started to slip? The simple answer is that, when firms perform well, they try to hardwire the [...]
Is HS3 the best way to boost growth in the North? October 27, 2014 Andrew Carter, acting chief executive of the Centre for Cities, says Yes. Improving rail links between London and the north, and between our largest northern cities, is a critical step in turning the political rhetoric of building a northern powerhouse into reality. Fast and frequent transport systems enable businesses to collaborate and share knowledge and [...]
The West’s eyes are on Syria – but Islamic State is still winning in Iraq October 26, 2014 There is little doubt that Islamic State’s (IS) siege of Kobani in Syria is a gripping story. Echoing similar narratives to the Alamo and the Boxer Rebellion, a small band of brave and determined “good guys” (in this case the Syrian Kurds) miraculously seem to be holding off hordes of fanatical “bad guys” (IS). Indeed, [...]
Power to the cities: It’s not just London that needs more control of tax revenue October 26, 2014 It’s not as catchy as “Brics”, but “ManShefLeedsPool” – the latest coinage from the Centre for Cities’s Jim O’Neill, formerly of Goldman Sachs – could have an equally seismic impact here in the UK. The growing difference between London and many of the UK’s other regions is a problem for the entire country. Politicians and [...]
Draghi’s balancing act: Stress tests can’t paper over Europe’s problems October 26, 2014 European Central Bank (ECB) president Mario Draghi has faced an unenviable balancing act recently. He’s had to oversee rigorous stress tests on the Eurozone’s banks – making them sufficiently harsh that investors viewed the process as credible – while at the same time encouraging those same banks to lend to the real economy in order [...]