We need a nuclear weapon to end bad behaviour in business: Revoking limited liability February 17, 2017 Slowly but surely a consensus is forming around some of Theresa May’s proposals for reform of corporate governance. In executive remuneration this means a recognition of the need for simpler structures and an end to complex share schemes. In the matter of corporate relations with stakeholders, it means a concerted effort to beef up Section 172 [...]
A victory for Marine Le Pen in France could spell the end of the European Union February 17, 2017 As the Brexit Bill’s passage through Parliament in the coming weeks appears a foregone conclusion, the UK’s timeline for invoking Article 50 has become clearer – but what remains unclear is the extent to which Brexit is mobilising voters in other EU member states. Indeed, from an economic standpoint, the UK’s inconsequential post-referendum performance poses a [...]
Theresa May is scared to admit that the unreformed NHS is crumbling around her – Copeland shows the cold reality February 17, 2017 Anything can happen when faith comes under fire. Take the classic tale of Peter the Apostle, who denied Christ three times before the rooster crowed; and in a more modern twist, take Prime Minister May, who this week managed to dodge stating her support for West Cumberland Hospital’s maternity services four times over the course [...]
Scrap UK tariffs on imports and give the UK a four per cent boost in GDP say Brexit-backing wonks February 16, 2017 Scrapping all tariffs on imports into the UK would add as much as four per cent to GDP after Brexit, a group of economists has claimed. A cabal of Brexit-supporting academics argue that the end of all import tariffs would cut prices in the UK and improve both productivity and competition in the UK. The newly re-branded [...]
A senior Tory is leading a cross-party fightback to protect House of Commons speaker John Bercow February 16, 2017 A cross-party group of MPs is riding to the rescue of House of Commons speaker John Bercow, with Tory defence committee chair Julian Lewis at the forefront. Bercow has been facing repeated questions over his impartiality relating to Brexit this week, with some MPs also angered by his public vow to fight against Donald Trump making an [...]
Asset manager Fidelity urges ministers to get tough on executive pay committees February 16, 2017 Fidelity International wants ministers to back a proposal for boardroom pay committee chairs to be forced out if a large minority of shareholders do not back remuneration plans. The suggestion is included in the asset manager’s submission to the government’s consultation on corporate governance reform. Read more: Fund managers plan executive pay crackdown to avert government intervention [...]
Under Armour boss backtracks after calling Donald Trump an “asset to this country” as analyst downgrades stock February 16, 2017 Kevin Plank hasn't had the best week. The Under Armour chief executive came under fire for his comments on Donald Trump, after giving an interview to CNBC last week saying: "To have such a pro-business President is something that is a real asset to this country." It caused a backlash, including from some of Under [...]
Founders not scroungers: There’s a business case for welcoming refugees February 16, 2017 As the legal battle rages on around Donald Trump’s chaotic travel ban and moratorium on refugees, you could be forgiven for thinking that the West faces an existential threat unparalleled in its history. Yet as politicians rush to placate and at times inflate public fears about the negative impact of refugees on jobs, public services [...]
Winning the battle for completely free trade post-Brexit will vastly increase UK prosperity February 16, 2017 Economists for Free Trade (of which I’m part) is launching today to make the case for the UK to run completely free trade once we leave the EU in 2019. Our aim is simple. We want Britain to lead the world on free trade. Our group has been formed to fight the battle which needs [...]
As the EU sends an envoy to Greece to salvage the debt deal, would the Eurozone survive Grexit? February 16, 2017 Carsten Hesse, emerging European equity strategist at Berenberg, says Yes. Although tensions are flaring up again, it remains highly unlikely that Greece will leave the Eurozone. It has already done 80-90 per cent of the required fiscal repair and structural reforms and two-thirds of Greeks want to keep the euro. The current noise sounds like [...]