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 [...]
With more international cases of Ebola, could this be the next stumbling block for markets? October 26, 2014 Chris Beauchamp is a market analyst at IG, says Yes. News of a new case of Ebola in the US sparked a modest selloff on Friday, with investors spooked by the fact that the patient had been in contact with other people. With global sentiment still fragile following the recent market correction, it seems likely [...]
Curb “patent privateers” to protect intellectual property October 24, 2014 Effective intellectual property protections are imperative to maintaining a robust economy and promoting innovation—and patents are an important facet of this regime. Unfortunately, bad actors are exploiting loopholes for personal gain and threatening the health of the current system—one that is generally working well. Lurking in murky legal waters, “Patent Privateers” are abusing protections and [...]
Family-run firms aren’t arcane: They help populate the City with women October 23, 2014 In the past few weeks, two women took on powerful positions in the financial services. First, Ana Botin became chairman of Spanish bank Santander, following the death of her father Emilio. Then Abigail Johnson replaced her father Ned as chief executive of US fund management firm Fidelity. Botin is the sixth generation of her family [...]
West Coast main line: Has Richard Branson forgotten the virtues of competition? October 23, 2014 Richard Branson’s famous guerrilla campaign to break British Airways’s grip on Heathrow Airport is safe in history as a victory for competition and passenger choice. The tenacious campaign fought by Virgin to secure access and slots at Heathrow dominated the UK aviation scene for most of the 1990s, and ultimately led to lower fares and [...]
Dave Lewis’s shopping list: Blueprint for a Tesco turnaround plan October 23, 2014 Another update, another set of gloomy results from Tesco. The pattern is now well established, and yesterday’s weak trading numbers didn’t come as a great surprise. But one thing that did surprise was the apparent lack of a forward strategy. What is new chief executive Dave Lewis going to focus on? The issue of price [...]
As some big banks place curfews on staff, is there anything left of the old City nightlife culture? October 23, 2014 Lawson Muncaster, co-founder and managing director of City A.M., says Yes. I popped out for dinner last night – suitably dressed. No thanks to the powers that be, City nightlife is alive and well. We’ve had it from all sides, with reports that banks are to place curfews on staff just the latest episode. But [...]
Beyond the AGM: Shareholders and firms must collaborate more closely on strategy October 22, 2014 On Monday, the government will publish its final response to the Kay Review, which looked at how we can get financial markets to work better for the long-term. Although the debate about promoting long-termism is far broader than the review, the time is right to take a closer look at whether companies feel the policy [...]
The NHS’s monopoly is weakening – UK healthcare has a bright future October 22, 2014 Monday 7 July started out as any other day for me, but it quickly took a dramatic turn for the worse. Mid-morning, my aorta (the main artery from the heart) tore, and the rest of my life changed. Weeks spent in a hospital bed led me to contemplate the future of the NHS. Will it [...]