Will fracking lead to a UK energy renaissance? July 31, 2014 For the first time in six years companies are able to bid for natural gas exploration licenses in the United Kingdom. The UK became a net importer of petroleum and natural gas last year and domestically-produced natural gas now accounts for only a third of consumption. Prime Minister Cameron’s decision to go “all out for [...]
Why the ASA’s banning of Jaguar’s Art of Villainy video should worry thrill-seeking brands July 31, 2014 Browsing through the papers on the weekend – all well respected broadsheets (if there is such a thing these days) – and it struck me that, as a brand manager, you may as well pack your bags and go home. Amid headlines which shouted about a cannibal fetish nurse, was a small article which [...]
Payback time but Bank of England’s bonus clawbacks are rife with pitfalls July 30, 2014 Quite literally, yesterday it was payback time for Britain’s banking industry. Regulators’ demands that lenders must force staff to hand back bonuses awarded as long as seven years earlier delivers a belated sense of justice for those clamouring for more robust post-crisis retribution. The Bank of England’s timing could hardly have been better, coming [...]
Dagger in the Kremlin’s heart: Europe’s sanctions have revived a comatose West July 30, 2014 “We live between the act of awakening and the act of surrender.” John O’Donohue, Irish poet MY GOD, they’ve finally done something. In the end, it wasn’t the horrific shooting down of MH17 – highly likely by Russian separatists in eastern Ukraine – that goaded a seemingly inert Europe into decisive action. Even after this [...]
London 2050: Devolve powers to the capital to tackle its £1.3 trillion infrastructure challenge July 30, 2014 IN THE next few months, a record will be broken: London’s population will rise above 8.6m, the highest since records began. And the capital’s phenomenal growth isn’t expected to slow any time soon. According to projections by the Greater London Authority, the city’s population could increase to 11m by 2050. But for all London’s current [...]
Why regulators should be cautious about new banker bonus proposals July 30, 2014 IT CANNOT be ignored that trust in banking is still lingering at all-time lows and, according to a recent YouGov survey, 78 per cent of the public think there is an unhealthy bonus culture at the banks. Certainly, as the likes of Financial Reporting Council chairman Sir Win Bischoff have argued, more needs to be [...]
Is the UK close to widespread adoption of driverless cars? July 30, 2014 Stian Westlake, executive director of research at Nesta, says Yes. Self-driving cars offer big benefits for consumers and for the economy. They’re safer. They’ll allow us to free up city centre parking and relieve drudgery for the 57 per cent of British workers who drive to work. The reality is near at hand. Google cars [...]
Argentina is flirting with default – and the consequences could be far-reaching July 29, 2014 Today marks the deadline for the Argentinian government to reach a deal with a group of creditors over a bond repayment dispute. The stakes are high for the downwardly-mobile country, which once ranked among the world’s richest. If it fails, Argentina will experience its second sovereign debt default in just 13 years. Why does this [...]
Why inequality in science is a good thing – if you care about progress July 29, 2014 DOES inequality in the output of scientists matter? Inequality is a fashionable topic, and evidence for its existence is keenly sought in all sorts of places. John Ioannidis, a health policy researcher at Stanford, and his colleagues have found it in the research outputs of their fellow academics. As they detail in a paper in [...]
Why won’t Labour have lunch with the City? We’d welcome an honest debate July 29, 2014 WHEN Labour left power in 1979, many of the party’s grandees and politicians accepted invitations to have lunch with me and a coterie of City bankers. Harold Wilson, James Callaghan, Peter Shore and Eric Heffer numbered among those who agreed to some gentle hospitality, providing an opportunity for all parties to exchange views and ideas [...]