Educating Yanis Varoufakis: Greek finance minister and his English mentor MP Stuart Holland January 28, 2015 Former British MP Stuart Holland, who calls newly elected Greek finance minister Yanis Varoufakis a close friend of over a decade having worked with him on a number of academic economics papers, last night said he felt more confident than ever in Greece’s economy. “He is brilliant, and he’s very well informed because we’ve been [...]
Mark Carney calls on Germany to foot Eurozone’s risk January 28, 2015 Eurozone countries should share more risks and allow taxpayers’ money to circulate more freely as it does between countries in the UK, Mark Carney said in an unusually outspoken address last night. The Bank of England governor hinted that Greece’s troubles would be less severe if it could access more German money, comparing the situation [...]
Drastic Dave reveals 43 Tesco store closures January 28, 2015 TESCO chief executive Dave Lewis yesterday lived up to his nickname “drastic Dave” as the company named the 43 stores it would be closing in a bid to revive its flagging fortunes. The retailer said it would shut 30 convenience stores – including 18 Express outlets and 12 inner-city Metro shops – along with seven [...]
Mark Carney slams Eurozone austerity and urges common fiscal policy January 28, 2015 Mark Carney has launched a withering attack on the Eurozone's pursuit of austerity and urged a new course for European fiscal policy. Speaking in Dublin, the governor of the Bank of England warned the Eurozone could suffer another lost decade of stagnation and unemployment. "Since the financial crisis all major advanced economies have been in [...]
Francois Hollande wants tech firms to be sanctioned as “accomplices” to hate speech January 28, 2015 President Francois Hollande has outlined some bold plans to penalise tech firms if they fail to tackle hate speech. The French President has called for a framework of sanctions that would hit companies like Facebook and Twitter for hosting extremist material such as racially hateful statements that are illegal in France. "We must act at [...]
Mike Ashley and Rangers will face charges of failing “the best interests of football” next month January 28, 2015 The Scottish FA have set a date of March 2 for the hearing into charges against Mike Ashley and Rangers. Ashley will face two charges relating to his possible breach of the Scottish FA’s dual club ownership rules. The Sports Direct founder owns Newcastle United and also has an 8.96 per cent stake [...]
Top FCA watchdog Martin Wheatley: I regret saying we must shoot first and ask questions later January 27, 2015 The City watchdog’s boss admitted yesterday that his “shoot first, ask questions later” description of the Financial Conduct Authority was too aggressive, and that the body is trying to find a better balance with businesses. Martin Wheatley told MPs that he had been trying to establish the FCA’s reputation in 2012 and to tell firms [...]
FCA boss Martin Wheatley is right to say sorry at last – Editor’s Letter January 27, 2015 Martin Wheatley evokes a lot of hostility, rather than respect, from many of the senior figures in the London’s financial community. A few months ago one chief executive pulled me aside and blamed the City’s top regulator for costing London the flotation of Alibaba, the giant Chinese internet group. Wheatley’s crime, I was told, was [...]
Boris Johnson moves closer to plans for Old Oak Common Crossrail and HS2 superhub January 27, 2015 Plans to turn a rundown industrial area in west London into a thriving new district with up to 24,000 homes moved a step closer yesterday after the government gave the go-ahead to create an Olympic-style development body for the scheme. Eric Pickles, the communities and local government secretary approved the creation of the Old Oak [...]
Boris Johnson gives revised Crossrail for Bikes the green light – now it’s just up to Transport for London January 27, 2015 A revised version of the heavily anticipated 'Crossrail for Bikes' has been given the green-light by London mayor Boris Johnson, as part of a £913m policy to get more Londoners cycling. The latest version of the plans for Europe's longest “substantially segregated” cycle path, which cut delays by 60 per cent on the route previously [...]