Puzzled over Australia’s shock election result? Economics can help explain May 22, 2019 The surprise of the week was the re-election of the centre-right Coalition government in the Australian General Election. The Labor opposition had led every major opinion poll for the past two years. But Scott Morrison of the Coalition is still Prime Minister – and it is his Labor opponent who is resigning as leader. Economists, regardless [...]
Greenpeace activists blockade BP’s London offices in climate change protest May 20, 2019 Environmental protesters have blockaded BP’s central London headquarters this morning as they claim “this is a climate emergency”. Read more: Extinction Rebellion founder wants to upend the UK's financial sector Greenpeace activists have set up five steel containers outside all entrances to BP’s offices in St James's Square, W1. On Twitter, the group said: “Volunteers have [...]
To avert the deluge, business must unleash its heroic spirit May 20, 2019 After us, the deluge. These are the words not of our Prime Minister, but from another troubled time and uttered by Madame de Pompadour, the lover of King Louis XV of France. The French Revolution would prove the prophecy. And for revolutionaries since, the idea of the deluge has inspired. Karl Marx went as far [...]
It’s time to challenge Corbyn’s grotesque stereotype of business May 17, 2019 This week, business leader and rich list regular Julian Richer announced that he was handing over 60 per cent of shares in his company to the firm’s 522 employees. You’d be forgiven if you missed this news. Despite Richer Sounds’ 53 stores across the country and annual turnover of £157.5m, the founder is hardly a [...]
Tried-and-failed plan to nationalise energy in the UK is a step backwards May 17, 2019 Last week, I ventured to Athens for this year’s Atlas European Liberty Forum conference, which brings together free market groups, not just from Europe, but from all over the world. It’s always a remarkable experience, which puts into perspective the battles for freedom we face here in the UK. You meet people – particularly young [...]
Storms and abandoned nuclear projects take chunk out of National Grid profits May 16, 2019 Profits fell by a third at National Grid last year it said a day after being thrown into the centre of a debate over nationalisation. The figures The FTSE 100 grid operator lost 31 per cent of its profit before tax, down to £1.84bn in the year ending March, it said this morning. Read more: [...]
Labour plans to nationalise power grid would delay green transition, firms say May 15, 2019 The businesses which supply power to British homes have hit out at Labour after it revealed plans to bring the electricity grid back into public hands. National Grid, which has run the networks since privatisation in 1990, today took aim at the party’s ambitions, saying its business was creating a framework to help Britain reduce its [...]
World could face energy shortage as investment lags demand says global energy agency May 14, 2019 The world is “storing up” future risks as investment in both fossil fuels and renewables may not meet global increases in energy demand, the head of the International Energy Agency has warned. More than $1.8 trillion was invested in global energy projects in 2018, broadly flat on the year before, the IEA said today. Read [...]
The real revolution in electric vehicles… May 13, 2019 | City Talk Electric vehicles (EVs) have reached a clear inflection point. Product quality has improved and consumer availability is expanding rapidly. Perhaps most importantly, the cost of electric car ownership is finally approaching parity with traditional combustion engine cars. The colourful stories within the industry have also helped generate interest: the spectacular and turbulent growth story of [...]
Labour might ban London-listed companies from stock exchange over climate change targets May 10, 2019 London-listed companies could be thrown off the stock exchange for not doing enough on climate change under new plans which are being drawn up by Britain’s Labour party, it was revealed today. Shadow chancellor John McDonnell said today his party would delist companies which do not have plans to combat climate change. Read more: Britain [...]