Letters to the Editor – 20/05 – Google judgement, Best of Twitter May 19, 2014 Google judgement [Re: Is the “right to be forgotten” online a real danger to freedom in Europe? yesterday] The Google “right to be forgotten” judgement is about the protection of personal data on the internet, not the freedom of expression. Google cannot say that its processes are carried out “solely for journalistic purposes”. But journalists [...]
The Flash Boys delusion: Why high frequency trading critics are wrong May 19, 2014 THE PUBLICATION of Michael Lewis’s book Flash Boys has understandably turned the spotlight onto high frequency trading (HFT). A cacophony of voices repeating catchy sound bites about markets being “rigged” against average investors have forced the Twitter decibel level to “11”. If the noise translates into book sales and the rumoured movie deal comes to [...]
Miliband’s proposals would fundamentally change our wage-setting framework May 19, 2014 THE LABOUR party used to be “intensely relaxed” about people getting rich. Now it is “intensely relaxed” about the ability of governments, rather than markets, to set prices and wages without detrimental consequences. Following energy price freezes and rent controls, Ed Miliband has now set his sights on a beefed up National Minimum Wage (NMW). [...]
Why regulators need more than raw data to spot emerging crises May 19, 2014 REGULATORS did not have the right data, tools or skills to see the 2008 financial crisis coming. As a result, they are now requiring that banks provide exponentially more – and different – records, creating opportunities for real-time, sophisticated analysis around anomalies. But there is a real danger that the massive inflow of information becomes [...]
Why India’s political earthquake is the most significant turning point of 2014 May 18, 2014 GENOA – I find myself in this predictably beautiful Italian city, about to visit the house of Christopher Columbus. Like most American schoolchildren, I remember finding the fact that Columbus discovered the new world by mistake uproariously funny, as the “Admiral of the Ocean Sea” literally bumped into the Americas, sitting annoyingly in the way [...]
How powerhouse London beat New York to become the best city in the world May 18, 2014 LONDON has, for the first time, claimed the top spot as a centre for business, finance and culture in Cities of Opportunity – PwC’s sixth annual index of 30 major cities internationally. The capital has edged ahead of New York since last year, with Singapore coming in third. The index covers an impressively wide range [...]
City Matters: How British companies can help Latin America unlock its huge potential May 18, 2014 THE EYES of the world are turning to Brazil as “the beautiful game” returns to its spiritual home next month. This is an exciting time for all the teams involved ahead of the World Cup, but also one filled with major challenges and opportunities – a situation not dissimilar to that facing Latin America as [...]
Letters to the Editor – 19/05 – Cost of Brexit, Best of Twitter May 18, 2014 Cost of Brexit [Re: Beware the corporate grandees who claim Brexit would cost Britain dear, Friday] I don’t think it’s possible to accurately assess the cost/benefit of staying in, leaving, or renegotiating our membership of the EU. But what is clear is that any exit would be expensive in the short term, as we go [...]
City & Gild: Has Gary Barlow shattered a dream brand? May 16, 2014 When I was a child and believed in Father Christmas, I bought into the whole “Ho ho ho” thing hook, line and sinker – to the point where I would lie awake on Christmas Eve, terrified that a complete stranger was going to come down the chimney and pad about the house. (To be honest, [...]
Letters to the Editor – 16/05 – Monetary dark age, Best of Twitter May 15, 2014 Monetary dark age [Re: The real world looks much less rosy than the Bank of England’s forecasts, yesterday] This is a dark age for macroeconomics. The likes of Mark Carney are concerned with communication but have forgotten that the maximum impact of an interest rate increase occurs within 12-18 months. If this is appreciated, then the [...]