Why the Bank of England could turn more hawkish in 2017 January 17, 2017 Suppose the UK had voted to stay in the EU. Would the Bank of England have hiked its benchmark interest rate by now? Yes, probably. But that didn’t happen. Instead, the central bank aggressively expanded monetary policy in August, shortly after the UK voted for Brexit. The Bank's efforts, in conjunction with Theresa May’s ship-steadying [...]
Oxfam is wrong to imply free markets make the rich richer at the poor’s expense January 17, 2017 Every year Oxfam releases statistics comparing the wealth of the global poor and the global rich, showing a stunning, often widening, gap between the two. They heavily imply that the poor are getting poorer while the rich are getting richer – but only half of this is correct. The lot of the world’s worst off [...]
Davos elites should look to UK fintech to see responsive leadership in action January 17, 2017 With the rise of digital, information networks, robotics, and the smartphone, the pace of technological change is accelerating. This has coincided with increasing populism, creating political and market volatility that some analysts are forecasting as the new normal. Across the political, business and academic landscape, leaders must be more in tune with their communities, and [...]
Is Donald Trump right that Nato is obsolete? January 17, 2017 Mary Dejevsky, a writer and broadcaster, says Yes. Nato was an alliance of the Cold War and became obsolete as soon as the Soviet Union was dissolved. The West’s failure to disband it – or at the very least rename it and reform its purpose – in response to the demise of the Warsaw Pact [...]
Theresa May vows to turn Britain into “a great global trading nation” January 17, 2017 Prime Minister Theresa May will today vow to make Britain “a great global trading nation” in an eagerly-awaited landmark speech on Brexit. Speaking at Lancaster House later today, May will set out 12 key negotiating objectives for the UK, underpinned by promises to provide certainty and clarity, and to create a stronger, fairer and more [...]
Metro Bank gets down to business, planning to increase its number of in-store managers by around a third January 17, 2017 Business banking is booming for Metro Bank, so much so that the challenger plans to increase the number of business bankers in its branches by around a third, or 30 per cent, in 2017. The bank, which opened its first branch in 2010, recently announced it was putting £1bn to one side to support business customers [...]
Technology and construction specialists are among London’s worst firms for recruiting apprentices January 17, 2017 London's technology and construction firms are the among the capital's worst employers for recruiting apprentices, according to a new report. The capital’s construction businesses recruit fewer apprentices than those in any other part of the country, while the growth of sites like Silicon Roundabout hasn’t been enough to stop the tech sector becoming the London’s second [...]
City financier Edi Truell puts forward new rescue plan for Tata Steel UK pension scheme January 16, 2017 A leading City financier is looking to join Tata Steel UK’s £15bn British pension scheme as a trustee and has set out an ambitious plan to revamp the pensions rescue plan. Edi Truell has sent an outline to current trustees proposing a merger between Tata Steel’s specialty unit with Sheffield Forgemasters, an advanced steel materials [...]
Tube talks between RMT, TSSA and London Underground adjourn as threat of further strikes looms over capital January 16, 2017 Negotiations aimed at averting more Tube strikes were adjourned today, leaving the threat of industrial action looming over the capital. Talks will resume on Wednesday between officials from the Rail, Maritime and Transport (RMT) union, Transport Salaried Staffs' Association and London Underground representatives, who met today at the conciliation service Acas. Read more: Here's when the [...]
Hard Brexit will need longer transition for businesses, City policy chief warns January 16, 2017 The Square Mile will need a longer transition if Theresa May pursues a so-called Hard Brexit, City policy chairman Mark Boleat has warned. Delivering a lecture at King’s College, Boleat said that any deal with the EU must include time for business to adapt. However, he added that the nature of the deal is more important than [...]