Scrap the utopian net migration target (among other things) to reconcile traditionalists and liberals on immigration February 23, 2017 Across the West, we are experiencing a growing cultural clash between liberals and traditionalists. It was encapsulated by Clinton versus Trump, and now by Macron against Le Pen in France. Former Prime Minister Tony Blair recognised this 10 years ago, saying: “The real dividing line to think of in modern politics has less to do with [...]
Spiking business rates will lead to an East London tech exodus February 23, 2017 Much has been written about the upcoming business rates revaluation and the significant additional burden that this will place on businesses, large and small. Comparatively little, however, has been said about the impact that this in turn will have on our town centres and business districts. Ultimately, business rates are a property tax rather than [...]
As Lloyds posts its highest profit in a decade, have British banks got over the financial crisis? February 23, 2017 Fahad Kamal, senior market strategist at Kleinwort Hambros, says Yes. In the latest stress tests conducted by the European Banking Authority, only two of the 51 banks tested – neither British – would fall below the minimum capital level required in an “adverse” scenario. Admittedly, some UK banks still have a hangover from the pre-crisis [...]
British exporters are confident ahead of Brexit as Article 50 trigger looms February 23, 2017 Confidence among British exporters has jumped ahead of the official start of the Brexit process, a new poll shows, as revised figures reveal a 4.1 per cent increase in exports boosting UK growth at the end of 2016. A balance of 43 per cent of manufacturing firms expect turnover to increase over the next year, as Britain begins [...]
Government isn’t doing enough to mitigate the environmental hit from Heathrow expansion, warn MPs February 23, 2017 The government looks set to flout recommendations made by its own climate change advisers regarding the environmental impact of Heathrow expansion, MPs warned today. The Environmental Audit Committee has found the government is not doing enough to show it can mitigate the environmental hit the new runway is expected to have, and looks set to [...]
Tesla says its new mass-market car remains on track as it reports narrowing losses February 22, 2017 Tesla posted a smaller loss for the quarter to 31 December, as it declared that its new mass-market saloon was on track to enter production by September. Elon Musk's electric car maker reported net loss attributable to common shareholders of $121.3m (£97m) for the three months period, down from $320m in the same quarter of [...]
Google owner Alphabet has just been upgraded to AA+, S&P’s second highest rating level February 22, 2017 Google parent Alphabet has been upgraded by Standard and Poor's, with analysts citing strong operating performance and conservative financial policy. Alphabet now holds a rating of “AA+”, one notch below the rating agency's top level of AAA, which is held only by Microsoft and Johnson & Johnson. S&P said the rating was a function of [...]
Fed policymakers prepare to hike interest rates “fairly soon” February 22, 2017 Federal reserve policymakers have hinted that it may be time to raise US interest rates again – “fairly soon” – if jobs and inflation continue to meet expectations. Minutes from the 31 January meeting, which saw the American central bank keep rates unchanged, also reflected uncertainty, with some attendees raising concerns that it may be “some [...]
Horizon Dark Zero review: A vast and exhilarating post-apocalyptic adventure February 22, 2017 Horizon Zero Dawn is the best looking console game ever made. Set centuries after the collapse of human civilisation, you play as Aloy, an outcast in a beautifully overgrown post apocalyptic world inhabited by futuristic machines. With tonnes of quests, a lengthy story and a huge open world, Horizon is rich with things to do [...]
Clear off: City of London steps up fight to retain euro clearing after expert warnings against “currency nationalism” February 22, 2017 High-profile regulators, politicians and financial experts have warned that any move by the European Union to force euro clearing out of London could have grave consequences for global economic stability. Sir Jon Cunliffe, the deputy governor of the Bank of England who supervises financial stability, hit out at “currency nationalism” on Wednesday, saying: “Such a policy if [...]