RAPID RESPONSES November 15, 2011 Jaguar & jugaad I have to agree with yesterday’s Forum article on India’s innovation culture. Having spent three years with a large multinational pharmaceutical company developing businesses in India, it was plain to see that India was turning itself into an innovation powerhouse and it would be a force to be reckoned with. Look at [...]
India’s innovation culture is revealing itself at last – and the West faces a dilemma November 14, 2011 CAN India emerge as an innovation powerhouse? Over the past two decades, India has achieved a dominant share of offshore work, giving Western populations angst about the loss of white collar jobs. The traditional concern in the West has been about immigrants coming onshore to compete for local jobs; now it seems that the effects [...]
Setting a match to the debate on petrol inflation November 14, 2011 INFLATION is now rising faster than wages, and Britain faces a cost-of-living crisis. Astronomical fuel prices are the number one issue in my constituency: they are creating a poverty trap, and are a major brake on economic growth. In real terms, adjusted for inflation, motoring fuel has never been this expensive – except for just [...]
Anchors aweigh: King has to let UK prices rip November 14, 2011 I AM NOT a supporter of quantitative easing (QE), but it strikes me that there is a perverse irony in the way it is debated. Let’s recap the way it is supposed to work. The Bank of England (BoE) attempts to control economic activity through interest rates – a cut in interest rates makes spending [...]
RAPID RESPONSES November 14, 2011 Bullion for bears James Conway’s Italian suggestion [Italian gold may be just the job to save the day, last Friday] is too complicated. Italy won’t sell its gold. But Italy’s gold reserves are worth €103bn. Bond issues with 25 per cent to 50 per cent gold collateral would be a confidence booster. The Eurozone holds [...]
Spotify has the music world gripped – but it won’t be a panacea for squeezed artists November 13, 2011 SPOTIFY is taking over the world, wrapping its tentacles around the music industry like the alien flora from HG Wells’s War of the Worlds. Over the summer it finally announced its long (very, very long) awaited expansion into the US. Then came a transformative deal with Facebook, allowing users to log in and share music [...]
Britain must be ready to bail out Italy via the IMF November 13, 2011 WITHOUT stable financial markets, there is little hope for the sustained growth so essential for economic recovery. The UK economy is a global leader in the financial services sector but this leaves it especially prone to the adverse impact of uncertainty on global financial markets. No UK taxpayer stands by while unimaginably large sums or [...]
The new Lord Mayor’s message for the City November 13, 2011 AS A keen rower since my schooldays, I have a long track record of steering a course through choppy waters. I suspect this may come in useful over the next twelve months. Having taken over as Lord Mayor at a time when the political and economic environment remains turbulent – and popular opinion towards the [...]
RAPID RESPONSES November 13, 2011 Science v politics Marc Sidwell is right to wish for fewer appeals to “consensus” in political life [Let’s agree we’ve had enough of consensus, Friday]. Most political questions are of precisely the kind that do not (and should not) permit consensus. It’s different in science, where “consensus” doesn’t mean passive observance of an agreed party [...]
Italian gold may be just the job to save the day: A mini solution to Italy’s debt crisis November 10, 2011 GETTING the gold out of Italy isn’t easy. Just ask Michael Caine. However, if as some commentators are now speculating, there is no other option, the only thing worse than trying to sneak it out in a coach along treacherous Alpine roads would be trying to sell it. The odds of getting anything close to [...]