Our decisive central bank has been neutered by regulatory confusion July 30, 2012 THE TREASURY Select Committee has rightly questioned the arbitrary powers of regulators, particularly the Bank of England, over the boards and senior executives of private firms in the financial sector. Despite the mistakes of our cartelised banks, it’s unwise to assume that regulators can run businesses better than boards. Moreover, trends over the last 12 [...]
Enjoying the Olympics and criticising their cost are two separate debates July 30, 2012 WHEN I was at school, I never really liked sports day. I found the attempts to invent rivalries based on random teams silly, and never found an event at which I excelled. I’d have preferred to be at home. The consolation was that we weren’t in lessons, so I did my best to enjoy the [...]
Assad’s brutality won’t be enough to save his regime July 30, 2012 SYRIA’S ongoing civil war is now entering a decisive phase. Bloody battles, street by street, alley by alley, are raging for the two key cities of Damascus and Aleppo. The regime of the Syrian President Bashar al Assad appears to be expending every last ounce of effort to maintain its hold over urban centres. Fast [...]
Can the payday loan industry be trusted to protect consumers from excessive charges? July 30, 2012 YES Richard Griffiths Despite all the negative media commentary, responsible payday lenders work hard to provide customers with an excellent service, resulting in extraordinarily high satisfaction ratings. The industry isn’t perfect and does have a poor reputation. But the four main associations representing payday and short-term lenders have launched a new customer charter, setting out [...]
RAPID RESPONSES July 30, 2012 Olympic reactions [Re: Olympics are a great success, but won’t solve economic crisis, yesterday] The Games so far have been a triumph. Pre-event grumbling was just a classic example of a British tendency to play down expectations. As you write, however, we will have to wake up. The much-vaunted legacy must materialise, even if solely [...]
UK firms face productivity crisis as we drop further behind our rivals July 29, 2012 RECENT UK economic statistics present a conundrum. While the country is experiencing the longest double-dip recession for more than 50 years, private sector employment is rising. What other factors are at play? Our latest research into global employee trends suggests that productivity is an underlying issue. Employers are struggling to get the most of their [...]
The Olympics has made East London a hub for investors July 29, 2012 I AM lucky enough to have spent the last decade immersed in the east of London. Home of the 2012 Olympics, this is the area I believe will be the next addition to London’s core market, bringing huge opportunities for investors. Will London succeed where (some) others have failed, by delivering an Olympic Games where [...]
Banks have to recognise that even unfair criticism must be acknowledged July 29, 2012 THE OLYMPICS is a welcome respite for the banking industry after weeks in the media spotlight. Finance, and the City generally, has suffered a serious blow to its reputation. A period for some reflection should be welcomed. The British banking industry is being judged harshly by comparison with other industries and other countries. Certainly, the [...]
After Facebook reported a $157m (£99m) loss last quarter, should investors be concerned? July 29, 2012 YES Aaron Padgham Excluding staff share payments, Facebook made a second quarter profit of $295m (£187.7m), 22.9 per cent ahead of the comparable period last year. Revenue, however, rose by 32 per cent to $1.18bn, Facebook’s slowest growth rate seen since its inception. These aren’t the kind of figures one expects from a company trading [...]
RAPID responses July 29, 2012 Olympic reversal [Re: Even sceptics must now embrace the greatest show on earth, Friday] Like many Londoners, I felt massively unexcited about the Olympics. Compared to the Diamond Jubilee, it felt over-organised, dominated by large corporations, and disconnected from the ordinary tempo of the nation. But in the last few days my feelings have reversed. [...]