Fiscal cliff deal is no grand bargain to save the US from growing debts January 2, 2013 WHILE revellers in New York greeted 2013 with renditions of Auld Lang Syne, Washington reflected on a year of fierce partisanship and brutal campaigning. But as the country welcomed in the New Year, so too came hopes of a new era of bipartisan co-operation, after a cross-party agreement passed the House of Representatives and the [...]
London’s burgeoning skyline will complement expansion underground January 2, 2013 LONDON is emerging from recession as a beacon of hope for future British growth. It has the right mix of talents – in technology, creative industries, and finance – to establish a new benchmark for the few world cities that will dominate the next half-century. But it can also learn from past achievements to build [...]
Fiscal honesty has emerged from the US deficit debates January 2, 2013 MILLIONS of words have been written over the last few days about the US fiscal cliff. But few have regarded this long, slow and frankly tedious political process as in any way positive. I disagree. The drawn-out debate that preceded this week’s agreement is likely to be the best way for America to resolve its [...]
Is Sir Martin Sorrell right that corporation tax payments are a “question of judgement”? January 2, 2013 YES Steve Barclay As the public becomes increasingly aware of how much tax companies are paying, chief executives should be asking: “What impact will our tax affairs have on our brand?” Sir Martin Sorrell is right to acknowledge that Starbucks’s decision to pay £20m extra in corporation tax was motivated by the idea that “doing [...]
Rapid responses January 2, 2013 Groundhog year [Re: 2013 will prove the power of global events to shape our economic lives, yesterday] Mark Malloch Brown’s concerns about the Asia Pacific in 2013 are essential reading. As he correctly points out, problems in the Eurozone and the continuation of political impasse in the US have been priced into the markets. But [...]
2013 will prove the power of global events to shape our economic lives January 1, 2013 IN MARKETS, a trading session can seem like a lifetime. This puts in context the old adage, attributed to Harold Wilson, that a week is a long time in politics. In truth, both activities have become even more frenetic, as events in distant corners of the globe hit trading screens and TVs with sometimes devastating [...]
London must regain its Victorian spirit to capitalise on the triumph of 2012 January 1, 2013 NOW the curtain has closed on a glorious 2012 for London and Britain, the stage is already being prepared for a very different year ahead. We’ll need to build on recent achievements to deliver a tangible legacy for future generations. We must up our game, rather than lower our expectations for 2013. This means focusing [...]
Make 2013 the year for educating your children financially January 1, 2013 CREATING a New Year’s resolution is as much a tradition at this time of year as Auld Lang Syne or fireworks. Whether done in jest, or with serious commitment, setting resolutions can inspire us to be and do better in the year ahead. Unfortunately, waning willpower and seemingly insurmountable ambitions will likely conspire against our [...]
Are there reasons to be optimistic about the British economy over the year ahead? January 1, 2013 YES Anna Leach Last year was a difficult one, but the labour market proved remarkably resilient. Employment levels are back above pre-crisis levels and unemployment has fallen – although considerable slack remains, with wage growth remaining weak. Nonetheless, combined with a relatively stable outlook for inflation and the supportive stance of monetary policy, this should [...]
Rapid responses January 1, 2013 No green shoots [Re: Looking ahead to the 2013 markets] The UK economy will continue to underperform in this new year, skirting an unprecedented triple dip recession. Indeed, the Bank of England predicts that it will take until 2015 for UK GDP to return to its level prior to the 2008 credit crunch – representing [...]