Capitalists shouldn’t be frightened of Piketty’s growth-retarding manifesto May 14, 2014 WHEN a book called Capital in the Twenty-First Century, written by a French economist, hits the top of the best-seller list, you have to ask why. It’s not exactly familiar territory, after all. The answer lies in a clash of worldviews. The conflict is between those, like the book’s author Thomas Piketty, who want to [...]
Why Mark Carney will be hoping his World Cup analogy isn’t too precise May 14, 2014 The Bank of England's governor has brought back an old favourite to the central bank's press conferences: sport analogies. Mark Carney has suggested that securing the UK's economic recovery so far has been "like making it through the qualifying rounds of the World Cup". A major achievement, but not the ultimate goal. The "real tournament" [...]
Mike Ashley rumoured to be close to LA Fitness deal May 14, 2014 Sports Direct founder Mike Ashley has moved to take on around 30 LA fitness sites, Sky News' City editor, Mark Kleinman, reports. The exuberant billionaire has agreed to offer a parent company guarantee to LA Fitness landlords regarding leases on the gyms, according to sources. One did say, however, that, despite a deal being imminent, things [...]
Richard Branson bets on Bitcoin with new stake in payment firm May 13, 2014 BITPAY, the Atlanta-based Bitcoin payments processor, has reportedly raised $30m (£17.8m), and Richard Branson is one of the investors. In an email cited by the Wall Street Journal, the business magnate took the opportunity to make a statement about virtual currency more widely, saying: “Banking as we know it is in the midst of enormous [...]
How Richard Branson’s getting behind virtual currency May 13, 2014 Bitpay, the Atlanta-based Bitcoin payments processor has reportedly raised $30m (£17.8m), and Richard Branson is one of the investors. In an email cited by the Wall Street Journal, the business magnate took the opportunity to make a statement about virtual currency more widely, saying: “Banking as we know it is in the midst of enormous change [...]
Boris Bypass below-ground route revealed May 12, 2014 LONDON officials yesterday shed more light on where Boris Johnson’s planned £30bn underground ring road in central London would be built. The inner orbital tunnel, which is in “the very early stage” of planning according to City Hall, could offer two underground river crossings for motorists and link up to Hackney Wick. The Mayor of [...]
Euro plummets as Draghi hints at rate cuts in June May 8, 2014 THE EUROPEAN Central Bank (ECB) gave the clearest signal yet of even further monetary easing yesterday, prompting a rapid drop in the euro. ECB president Mario Draghi said that the institution is now “comfortable with acting next time”, following his staff’s latest projections of the economic climate, which will be published early in June. The [...]
Keen Steen ruins yesterday’s tie guesses but Draghi’s not playing May 8, 2014 MARIO Draghi’s numero uno press man Michael Steen caused a storm on Twitter yesterday by posting a photograph of his boss ahead of a European Central Bank policy decision meeting, because it revealed the colour of his tie ahead of time. Each month people try to guess what colour the ECB president’s tie will be [...]
Mario Draghi knows about the tie guesses May 8, 2014 Earlier today, Mario Draghi’s numero uno press man Michael Steen caused a storm on Twitter by posting a photograph of Mr Draghi ahead of his European Central Bank policy decision meeting, because it revealed the colour of his tie ahead of time. To the uninitiated it might sound a bit loopy but each month [...]
Euro sinks as Draghi suggests action at next ECB meeting May 8, 2014 Signs of action from the European Central Bank has whacked the euro. President Mario Draghi has said that the central bank could act at its next meeting, in June, and it's whalloped the currency. Draghi's wording: "The governing council is comfortable about acting next time." The ECB is clearly aware of its inflation problem, with [...]