Yanis Varoufakis expresses surprise at free market endorsement. Here’s why Adam Smith Institute agrees with Syriza February 4, 2015 The world's most interesting finance minister has expressed his surprise at being backed one of Britain's leading free-market think-tanks. Yanis Varoufakis, the man appointed by Greece's radical left wing party Syriza to sort out the country's debt crisis, tweeted "we live in a strange world" after reading comments from the Adam Smith Institute (ASI) published [...]
Boris Johnson’s Crossrail for Bikes gets green light from Transport for London February 4, 2015 Boris Johnson's ambitious Crossrail for Bikes scheme has been given the green light by Transport for London, after it was updated to reduce knock-on traffic delays. Four new cycle superhighways running throughout London have got the go-ahead and work will begin on the project within the next month. The scheme will cost £160m to [...]
Syriza facing biggest test since election as Yanis Varoufakis meets ECB chief Mario Draghi February 3, 2015 Greece’s maverick new finance minister faces his biggest challenge today as he heads to Frankfurt for potentially make-or-break negotiations with European Central Bank (ECB) chief Mario Draghi. Yanis Varoufakis is expected to try to shore up Greece’s near term finances by requesting a ceiling on Greece’s short-term borrowing to be lifted. However, some observers believe [...]
Lay off the personal attacks on Ed Miliband, Chuka Umunna urges February 3, 2015 Shadow Business Secretary Chuka Umunna pleaded with business leaders to lay off from making personal attacks on Labour leader Ed Miliband as the row between his party and business threatened to spiral out of control. Umunna said recent comments by the Boots chief Stefano Pessina, and then by Stuart Rose, the former chairman of [...]
Mike Ashley’s Sports Direct faces million-pound claim over bonus scheme which excluded zero-hour contracted staff February 3, 2015 Mike Ashley’s Sports Direct faces legal claims over its bonus scheme from hundreds of staff working at its stores which could run into millions of pounds. Nearly 300 workers on zero-hours contracts were excluded from a bonus scheme which gave around 2,000 staff who were permanently employed a windfall share of £160m worth of shares [...]
Adam Smith Institute calls on Osborne to back Varoufakis’s Greek debt-swap plan February 3, 2015 Greece's finance minister Yanis Varoufakis has found an enthusiastic backer for his debt restructuring plans in one of Britain's premier free-market think-tanks. Greece has abandoned demands for a write-off of foreign debt and has instead proposed swapping the outstanding debt for growth-linked bonds accompanied by a crackdown on tax evasion and budget surpluses. Varoufakis described [...]
Boris Johnson backs Boots boss Stefano Pessina for speaking out on Labour business “catastrophe” February 3, 2015 The London Mayor has weighed in on a row between Alliance Boots chairman Stefano Pessina and the Labour party, backing the business boss's decision to air his political views in public. Boris Johnson called Pessina’s outspoken comments “refreshing” after the businessman attacked Labour’s business policies as a “catastrophe”. “I think the head of Boots is [...]
Warren Buffett and Charlie Munger plan special Berkshire Hathaway letters to celebrate golden anniversary February 3, 2015 He may have admitted to getting it wrong as far as Tesco is concerned, but Warren Buffett still holds legendary status as the most successful investor of the 20th century. His annual letter to investors is always an event and this year will be even bigger than usual as Buffett and his business partner [...]
Greek finance chief Yanis Varoufakis says debt deal will be done in days February 2, 2015 Greece’s finance minister yesterday hinted he had a solution to the struggling country’s looming debt crisis and expected a deal with creditors to be struck within days. Yanis Varoufakis unveiled a radical plan to restructure Greece’s debt as he went for talks at Downing Street and the City. He has no plans to write any of [...]
Mark Carney’s struggle to master his words – CNBC Comment February 2, 2015 Once upon a time, you needed to be Alice in Wonderland to vanish down a rabbit hole. Nowadays, we are all falling in head first – thanks to a bunch of central bankers. But as we’re down here in this inverted QE world, Bank of England governor Mark Carney should probably heed the words of [...]