Russian business stereotypes need to be consigned to the distant past December 19, 2012 BRITISH statesman Lord Curzon once famously said that every Englishman enters Russia a Russophobe, and leaves it a Russophile. Though time has passed since the Great Game of Rudyard Kipling, the saying is still relevant. According to a recent Economic Intelligence Unit survey of 200 international senior executives, less than 15 per cent would view [...]
Recent scandals are no excuse to break up universal banking in Britain December 19, 2012 BREAK up the banks!” goes up the rallying cry. It’s not coming from the mob, however, but from various pockets across Parliament. For those wanting to appear tough on banks, it has become almost obligatory: you’ll only be taken seriously if you push for the nuclear option. With banks as unpopular as they are, this [...]
The best Christmas gift can’t be found on the high street December 19, 2012 CHRISTMAS is a time of consumption and, this year, despite some conflicting statistics, central London seems heaving. The New West End company estimated that the first weekend of December saw 16 per cent more shoppers than in 2011, many from abroad. Retail sales in December are typically twice those of other months and, for many [...]
Has UBS’s £940m fine for manipulating Libor threatened the UK’s role in interbank lending? December 19, 2012 YES Avinash Persaud Does the UK financial sector serve the UK or international finance? The scandal surrounding Libor is a microcosm of that issue. If Libor is seen to be susceptible to the interests of UK financial stability, it cannot be credible as an international benchmark. In the past, many were comfortable with the idea [...]
Rapid responses December 19, 2012 The cost of green [Re: Green energy subsidies are failing to deliver cheap low carbon power, yesterday] Renewable energy, like all good things, costs money. That politicians like Dominic Raab allow the energy companies to pass the cost straight to the consumer is a symptom of political weakness, not that the intention is wrong. Decentralised [...]
Green energy subsidies are failing to deliver cheap low carbon power December 18, 2012 TODAY Parliament will debate the Energy Bill. With homes braced for a hike in bills – and nearly 5m in fuel poverty – the government wants to strike an affordable balance between the UK’s environmental credentials and its raw energy needs. If policy is to follow facts not fads, we need a decisive break with [...]
A Christmas quiz on the strange puzzle of recessions and unemployment December 18, 2012 IN THE holiday spirit, I’ve decided to run a quiz at the end of this column. I’m offering a bottle of champagne to the winner, and I’ll make the draw from correct entries on 31 December. A quiz about the economy is appropriate because there are so many puzzles about the subject. In the current [...]
French tax exodus accents London’s continued allures December 18, 2012 A GROWING portion of France’s professional population is finding Francois Hollande’s attack on success to be less than appealing. Recent months have seen high-profile figures relocating to Belgium, including France’s richest man Bernard Arnault and actor Gerard Depardieu. And an increasing number are making the short hop on Eurostar to London, which now has 300-400,000 [...]
Will workers and businesses benefit from plans to cut the redundancy notice period? December 18, 2012 YES NEIL CARBERRY This is a sensible move that works in the interests of businesses and employees. When the tough decision to lay off staff has to be made, it is right to consult. But there is no reason to force businesses to delay critical decisions or to leave staff in limbo for three months. [...]
Rapid responses December 18, 2012 Corporation tax [Re: Politicians are powerless to curb our shrinking corporate tax base, yesterday] Douglas Carswell argues that, through international property migration, it is unavoidable that big corporations will mitigate their tax liabilities. But the sad consequence is that the only people who end up paying more is us, the financially immobile taxpayers. Something must [...]