Futura solves condom worry but shares slip September 13, 2016 Promises from Futura Medical over the outlook for its contraception line have failed to prevent a share sell off. The Aim-listed company’s share price had slumped by a more than 10 per cent by the market close in London. Futura said it was close to achieving regulatory approval for a longer shelf life and partner [...]
Former Boris Johnson economic adviser condemns economists’ Brexit consensus – but backs Bank of England and Mark Carney September 13, 2016 Boris Johnson’s former chief economic adviser says recent economic data proves that most economists were wrong about Brexit. Gerard Lyons, who like the former London mayor backed the Brexit campaign, said this was part of a “long tradition”, pointing to experts’ failure to predict the financial crisis. However, in an interview with City A.M., Lyons [...]
From City Hall to wealth management startup: Meet Boris Johnson’s ex-economic adviser, Gerard Lyons September 13, 2016 Not many wealth management firms can boast a chief economic strategist with the CV and public profile of Gerard Lyons. Formerly of Standard Chartered and Swiss Bank, Lyons joined the launch team of Netwealth this summer after a lengthy stint as London mayor Boris Johnson’s chief economic adviser. Bearing in mind Johnson’s high-profile support of [...]
London’s insurance industry will thrive globally post-Brexit with the right competitive boost September 13, 2016 Rebalancing the economy away from financial services and our capital city has been the preoccupation of successive governments since 2008’s financial crisis. The sheer size of the banking sector, so the thinking went, alongside the absence of any second, truly global city beyond London, had made the UK too reliant upon the dominant industry of our [...]
Christine Lagarde and Mario Draghi call on politicians to do more to help the losers of globalisation September 13, 2016 Two of the planet’s most important policymakers have criticised the response of governments around the world to growing concerns over globalisation, inequality and technological change. Christine Lagarde, head of the International Monetary Fund (IMF) and Mario Draghi, president of the European Central Bank (ECB) said governments and institutions needed to make sure their policies did [...]
The trouble with statistics: The same flaws afflict economic data as political opinion polls September 13, 2016 Who will win the US presidency? Opinion polls have got a bad name in Britain, at least. During the 2010 general election campaign, many suggested that Gordon Brown could still continue in power in a minority government or coalition. The polling record in the 2015 campaign was even worse. Most polls showed the two main [...]
UK ports form alliance in bid to create “gateway to a global North” September 13, 2016 The North of England's four main ports agreed a new partnership in parliament today, as they said £1bn of government funding could help create a "gateway to a global North". The Northern Ports Association — which will include Liverpool, Hull & Humber, Tees Valley and Tyne — will aim to create jobs, make importing and exporting easier and create prosperity [...]
A shortage of land could kill off London’s e-commerce revolution September 13, 2016 Recent reports that Amazon is set to test drone deliveries in partnership with the UK government is just the latest salvo in the fiercely contested battle between the e-commerce giants that are transforming the way we shop. The move also demonstrates the challenges of a constantly evolving logistics sector. City A.M. readers are at the [...]
As Luxembourg’s foreign minister calls for Hungary to be kicked out, is the EU starting to unravel? September 13, 2016 Tom Slater, deputy editor of Spiked, says Yes. Is the EU unravelling? We can only hope. The Luxembourg foreign minister’s outburst this week, lambasting Hungary for its migration policies, reminds us that the EU is not a glorious union of European peoples — it’s an oligarchy, whose anti-democratic edicts pit rich countries against poor, northern Europe [...]
David Davis puts the government on collision course with the House of Lords over Brexit approval September 13, 2016 Brexit secretary David Davis has put the government on collision course with the House of Lords after slapping down demands from a committee of peers for a parliamentary vote on Brexit. The House of Lords constitutional committee today warned that the government should not trigger Britain's departure from the EU without “explicit parliamentary approval”. The Lords [...]