When the next crisis hits, fiscal policy alone will not be enough — central banks will need monetary policy too November 25, 2019 For three decades, central banks promised us they would take care of the economy. Fiscal policy, we were told, was toothless. Monetary policy would ensure prosperity. But central banks have failed to deliver the prosperity they promised. And in an astonishing reversal, they are now calling for fiscal authorities to take the strain. Monetary policy [...]
Don’t panic, China is nowhere close to overtaking America November 25, 2019 There has been far too much doom-mongering of late about America’s structural position in the world. While there is no doubt that the US is in relative decline, it is as if the commentariat does not really understand what these words actually mean, focusing only on the “decline” part of the phrase. So for all [...]
Just Eat tells shareholders not to accept Prosus takeover offer November 25, 2019 Just Eat has advised shareholders not to accept a takeover offer from merger gatecrasher Prosus, urging them instead to stick with its agreed deal with Takeaway.com. Prosus, which is controlled by South African investment giant Naspers, is threatening to derail Takeaway’s takeover efforts after tabling a higher bid that valued the company at roughly £4.9bn. [...]
Our cities must work together to unlock Britain’s full potential November 25, 2019 When most people think of the UK financial and professional services sector, they immediately associate it with tall towers and iconic institutions based in the Square Mile. But that is just one part of the story. Today, 2.3m people are employed in these industries, with over two thirds of those jobs outside of London. As [...]
Sir Tim Berners-Lee warns of ‘digital dystopia’ as he unveils plan to save the web November 25, 2019 World wide web creator Sir Tim Berners-Lee has warned of a “digital dystopia” as he launches a plan aimed at tackling the misuse of the internet. The British computer scientist will unveil a string of new standards at an event in Berlin today amid fears of online harms such as foreign interference in elections, hate [...]
TfL ‘actively considering’ banning Uber from London November 25, 2019 Uber could be on the verge of a complete ban in the capital, with rumours swirling that Transport for London (TfL) may not renew its licence today. Uber’s operating licence runs out on Tuesday at midnight, after TfL only granted the ride-hailing app a two-month probationary extension in September. Read more: Uber ‘under pressure’ to [...]
Cake Box shares soar on rising profits as retailer whips up a storm November 25, 2019 Cake Box, the specialist seller of cream cakes, has enjoyed a rise in profits of more than a quarter in the first six months of the year. Shares in the retailer jumped seven per cent this morning, as it reported rising revenue on the back of nine new store openings during the period. Read more: [...]
Tony Blair: Both UK parties are ‘peddling fantasies’ ahead of General Election November 25, 2019 Prime Minister Boris Johnson and Labour leader Jeremy Corbyn are both “peddling fantasies” ahead of the upcoming General Election, Tony Blair will say today. At an event in London, the former Prime Minister is set to criticise the country’s two main parties for offering a stark choice, aiming to win over voters “on the basis [...]
Hong Kong elections: Carrie Lam will reflect after pro-democracy candidates win in rout November 25, 2019 Hong Kong leader Carrie Lam has said today that the government will take heed of the public after pro-democracy parties overwhelmingly won local elections. Seventeen of 18 Hong Kong councils are now in the hands of pro-democracy councillors after citizens’ votes wiped out pro-Beijing candidates. The vote – and record voter turnout of 71 per [...]
Food for thought: How Tastecard is helping the restaurant sector November 25, 2019 The restaurant sector is in a crisis. A combination of rising rents, food prices and wage costs, plus a decline in consumer spending, is causing more businesses to close. Research published in September exposed the scale of the problem. According to accountancy firm UHY Hacker Young, the number of restaurants closing in the year to [...]