Boris Johnson reveals £1.3 trillion plan to fix London’s water shortages July 30, 2014 As London races towards a record population size of 8.6m people next year, topping its previous population record in 1939, it could face daily water shortages of up to 60m litres, according to the latest figures from Thames Water. By 2050, as London reaches an expected population of 11.3m people in the capital, its daily [...]
EU sanctions Putin’s cronies as G7 nations say more may come July 30, 2014 The European Union yesterday extended sanctions against the Russian government to another group of individuals and organisations, freezing the assets of “cronies” of Russian President Vladimir Putin, according to one EU official. The eight individuals included Arkady Rotenberg, a friend of Putin, who has benefitted from public contracts and the gains of Moscow’s state-owned firms. The [...]
Barclays’ Antony Jenkins says his bank has turned corner July 30, 2014 Antony Jenkins had a new spring in his step yesterday. Payment protection insurance mis-selling might have blown another near-billion pound hole in his profits, but he had the look of a man who knows he is on the verge of something great. Like most post-crisis banking chiefs, Jenkins took the reins at Barclays in the wake [...]
How £1.3 trillion needs to be spent on city infrastructure by 2050 for London to stay competitive July 30, 2014 London Mayor Boris Johnson has outlined ambitious investment plans to improve the capital’s infrastructure which could require £1.3tn of spending from now until 2050. As London’s population continues to expand, the “London Infrastructure Plan 2050” outlines the spending needed for the capital to remain one of the world’s leading cities. Transport and housing make up [...]
US and EU sanctions on Russia: It’s not another cold war says Obama, yet Putin won’t thaw July 29, 2014 The US and Europe have joined forces to tighten the screws on Russia’s President Putin, as the spectre of downed Malaysia airlines flight MH17 continues to tug at the consciences of western leaders. As ambassadors in Brussels yesterday finally agreed a package of new sanctions designed to bring the Russian economy to its knees, Prime [...]
Boris Johnson promises ultrafast 5G mobile data in London by 2020 July 28, 2014 Tomorrow Mayor of London Boris Johnson, will promise that London will be one of the first cities in the world to offer the next generation of ultrafast mobile connectivity (known as 5G) by 2020. Johnson’s pledge comes as part of his London Infrastructure Plan 2050, which will set out the infrastructure requirements for the [...]
Hollande’s solution to France’s economic tragedy is more failed corporatism July 28, 2014 THE UK is becoming a low-skilled, low pay economy, and ordinary workers aren’t sharing in the proceeds of growth.” How often do we hear this? Those who articulate these views, particularly on the left, argue that we need more state intervention in the economy: more “social investments” paid for by higher taxes, “worker representation”, industrial [...]
Boris Johnson avoids talking tennis by pulling on his sparring gloves July 24, 2014 It looks like the “will he, won’t he” tennis match between Boris Johnson and the Chernukhins (the Russian couple who paid £160,000 at a fundraiser to play BoJo and David Cameron) will go ahead, after Boris said he was going to get in training for it yesterday. Now we think we know how he’s getting [...]
Update: Blackmailer hacks ECB website, steals email addresses and contact details July 24, 2014 The European Central Bank (ECB) has had its website hacked, with sensitive personal information including email addresses and contact data stolen. The ECB received an anonymous call on Monday night requesting money in return for the stolen data. The bank didn't say how much the blackmailer asked for, but did say that it refused to [...]
Mark Carney’s marathon metaphor moment: Sports back but it’s just not cricket July 23, 2014 We’ve learnt over the past year, in a similar vein to his predecessor, Mark Carney doesn’t need a sporting event to make a sporting reference in his official orations. But yesterday the Bank of England governor had more reason than any other time – as he spoke in Glasgow at the start of the Commonwealth [...]