Dave Lewis might be tempted to dodge crisis at Tesco, but he’d do better facing up to the truth September 28, 2014 Dave Lewis found himself face to face with some wicked problems last week. Tesco’s new chief executive had only been in the job for a matter of days when he was confronted with an accounting scandal, dire growth forecasts, unhappy investors and irate politicians. The kind of wicked problems Lewis faces are common in business. [...]
George Osborne to abolish 55pc inheritance “death tax” on pensions September 28, 2014 A so-called “death tax” on pensions will be scrapped from next April, George Osborne is set to announce at the Tory party conference. The 55 per cent rate applied to inheritances of defined contribution pensions will be abolished at a cost of £150m a year the Treasury predicts. The policy, first floated in July, was [...]
Vince Cable calls for skilled migrant cap to be scrapped or risk economic recovery in letter to Theresa May September 28, 2014 The cap on skilled migrant workers is damaging the UK's economic recovery according to Business Secretary Vince Cable. Cable has written to the Home Secretary Theresa May urging her to scrap the cap on skilled migrants coming to work in the UK from outside the European Union because it’s a “barrier to British growth”. The [...]
Could Ukip really be the ”second party of the north after Labour” like Farage claims? September 28, 2014 Ukip leader Nigel Farage today claimed his party was second only to Labour in the North of England, having increased support since the Barnsley by-election three years ago. Writing in the Independent ahead of his speech at today’s Ukip party conference, Farage said the party planned to take on Labour in the northern heartlands, claiming [...]
Nigel Farage’s conference speech: Here’s what you need to know September 26, 2014 Nigel Farage has delivered his last conference speech before the 2015 general election. Speaking to Ukip delegates, he celebrated the party's success in the European elections and congratulated Douglas Carswell for abandoning the Conservative party for Ukip. He praised Carswell's defection as the bravest act he had seen in British politics. In keeping with the [...]
Ukip conference 2014: Nigel Farage sets out tax-cutting policies September 26, 2014 Ukip has gathered in Doncaster for its last party conference before next year's general election. The timing is somewhat unfortunate for Nigel Farage's eurosceptic party with much of the media's attention focused on the upcoming vote on whether Britain will join airstrikes against ISIS. However, that won't stop the party putting forward some eyecatching policies to [...]
Mark Carney: Bank of England will get tough on the insurance industry September 25, 2014 The Bank of England is cracking down on malpractice in the insurance industry, governor Mark Carney said today. In a speech this afternoon, Carney indicated regulators will come down hard on insurance companies that give a distorted view of risk to decrease the amount of capital they are expected to hold. A new regime, known [...]
Mark Carney drops interest rate rise hint as “many of the conditions for the economy to normalise [are] now met” September 25, 2014 Interest rates will be rising soon. In a speech this afternoon mainly focused on the insurance industry, Mark Carney reiterated the Bank of England's stance on interest rates, and indicated that they will be rising before long. The Bank governor would not give a precise time scale, but saw the pieces falling in to place: [...]
What is a put option and how is Mike Ashley using it to bet on Tesco? September 25, 2014 Mike Ashley's Sports Direct has taken a punt on Tesco by entering into a put option agreement with Goldman Sachs. But what exactly is a put option and how is he using it to make money? In short, Sports Direct is selling the option to Goldman, meaning that if the share price goes up, [...]
Richard Branson has spoken: Apple Pay is the future, Bitcoin regulation is a good thing and Sidecar is the startup app to watch September 25, 2014 City A.M. chatted with Richard Branson about his views on startups, why affordable space travel is imminent and what drove his decision to invest in a drone business. What’s the most exciting startup at the moment? I’m lucky in that I meet exciting startups virtually everyday. One that’s especially grabbed my attention lately [...]