As David Cameron pledges action against EU immigration, is UK protectionism growing? October 16, 2014 Allie Renison, head of Europe and trade policy at the Institute of Directors, says Yes. It’s increasingly apparent that immigration will be at the forefront of David Cameron’s intended renegotiation efforts, and at the heart of the debate in any future referendum. But freedom of movement should not be the big red-line issue when there are [...]
The $100bn question: Banks must not let the past limit their future ambitions October 15, 2014 WHAT sort of banking industry do you want? Probably much the same as I do: banks that fuel economic growth, lend to businesses, let customers fulfil their dream of owning a home, and are well-financed enough to ensure that we taxpayers are never called on to provide support ever again. Today, senior bankers will gather [...]
The crackdown on no win, no fee risks handing a victory to dodgy directors October 15, 2014 One of the hazards of policymaking is that many of the best-laid plans can have curiously unintended consequences. In implementing policy, meanwhile, government can often find its left hand undermined by its right. So it has been with the Ministry of Justice’s laudable bid to halt spurious and costly civil litigation, an initiative which now [...]
The war on London’s nightlife is damaging businesses – and ruining our fun October 15, 2014 Londoners like to think of the capital as a thriving international destination, full of creative people, bustling with ideas, and a cultural and entertainment rival to all the major cities of the world. Generally, they may be right, if a little parochial. But in one area this is just no longer true: the night-time economy. [...]
As the Aldermore flotation falls through, is the IPO market showing signs of collapse? October 15, 2014 John West, equity capital markets editor at Dealreporter, says Yes. Institutional investors started 2014 hungry for European initial public offerings (IPOs) – even at full valuations. Not any more. Yesterday, the VDAX-NEW volatility index hit a two-year high above 26 – well outside the 15-20 sweet spot in which bankers ideally place new stock. IPOs [...]
Aldermore IPO decision shows how little appetite there is from anything but exceptional unlisted companies October 15, 2014 The decision by advisers to Aldermore, the lender to small businesses, to pull its flotation is the most high profile collapse in the new issues market this year, reflecting widespread concerns that there is little appetite left in London market for anything but exceptional unlisted companies who wish to raise new funds. The group, [...]
Africa isn’t a country: Don’t judge this thriving continent by the Ebola crisis October 14, 2014 REPORTS of people cancelling safari holidays in Kenya and South Africa due to fears of Ebola (over 3,000 miles away in Guinea, Liberia and Sierra Leone) are the latest manifestation of the devastating impact on African economies wrought by the perception of Africa as one homogenous place. Nowhere else in the world would 54 countries, [...]
The happy band of the self-employed is remaking our economy for the better October 14, 2014 HOW MANY workers does the typical American firm employ? Actually, it is a trick question. The answer is “zero”. More than 50 per cent of all companies in the United States are one-person operations – the owner, and no-one else. This fragmentation of size is increasingly reflected in the UK. Here, the main growth is [...]
How transparency and psychology can help us bridge the diversity gap October 14, 2014 BUSINESSES in the City have long been struggling to bridge the divide between the diversity we see in our clients and society and the make-up of our own staff. We need to change, not only because it is the right thing to do, but because the future prosperity of our businesses depends on it. At [...]
With Brent crude prices at a four-year low, is Opec’s power over the oil market waning? October 14, 2014 Ole Hansen, head of commodity strategy at Saxo Bank, says Yes. Opec’s control over global oil prices is waning because supply growth increasingly comes from non-Opec producers. An example is the US, where production has risen to the highest level in 28 years – largely due to the shale revolution, which has added almost 4m [...]