How creative destruction is sweeping through Britain’s high streets December 12, 2013 2013 has been a year of rapid change for the UK's high streets, with Blockbuster announcing today that a buyer can't be found for its ailing outlets. Many commentators have bemoaned the shifting landscape of the high street, and mourned the loss of the old and familiar. These complaints are nothing new. The disruption of [...]
Mortgage lending soars. But will it all end in tears? December 12, 2013 Lending to first time buyers rose dramatically in October, according to the Council of Mortgage Lenders. First time buyers advanced 26,800 loans in October, the largest number of loans in a monthly period since November 2007. Strong buyer interest is strengthening activity in the housing market but limited supply remains a major problem. House prices [...]
Fracking puts America on the path to energy independence December 12, 2013 US crude production has reached a 25 year high as shale gas slashed the need for foreign oil imports. The US pumped over eight million barrels a day in the week ended December 6, according to the Energy Information Administration (EIA). US oil output surged by 18 per cent over the past year, the fastest [...]
Markets aren’t buying what Carney’s selling, here’s why December 11, 2013 UK markets continue to believe that interest rates will rise in mid-2015 despite dovish noises from the Monetary policy Committee MPC, according to Capital Economics. MPC members have repeatedly tried to signal that if unemployment falls to seven per cent this will not automatically trigger a rise in interest rates. Overnight index swap (OIS) rates [...]
Meet Air Passenger Duty’s number one enemy December 11, 2013 The chief executive of Virgin Atlantic has condemned the UK's punishingly high level of Air Passenger Duty (APD). In a film made for the BBC's Daily Politics programme, Craig Kreeger said the UK government took aviation "for granted in a way that no other government in the world does." Kreeger, 53, is a veteran of [...]
As Barclays backs out of bike deal, here are 4 ways TfL can attract greater sponsorship December 11, 2013 In the wake of the announcement that Barclays will not renew its sponsorship of the London bike hire scheme, here are four ways that Transport for London (TfL) could attract greater commercial investment. 1. TfL should be more active in seeking sponsorship In a report for GLA Conservatives, Gareth Bacon suggested TfL should be more [...]
Government climate change adviser embraces dash for gas December 11, 2013 Britain should embrace fracking to provide a secure source of energy without destroying the environment, according to the chairman of the committee on climate change. Lord Deben, speaking to the Times said: It just isn't true that fracking is going to destroy the environment and the world is going to come to an end if [...]
Pensions costs to approach half a trillion by 2062 December 10, 2013 Expenditure on pensions will reach an eye watering £491bn by 2062/63, according to the Office for National Statistics (ONS). In 2062/63 spending on pensions will have reached 9.4 per cent of GDP. The UK's demographic time bomb is ticking, over five million men and 7.3 million women are already over the state pension age. The [...]
Finally, here’s a ray of hope for Europe’s mass unemployment December 10, 2013 The majority of business owners in 16 EU member states expect hiring to rise in the first quarter of 2014, according to ManpowerGroup. President of ManpowerGroup, Darryl Green said: Confidence is slowly returning but many are still erring on the side of caution, with positive outlooks reported but at relatively low levels for the time [...]
5 revolutionary technologies that will change the world forever December 10, 2013 Many of today's leading intellectuals tell us the days of discovery are over and the best we can hope for are incremental improvements. Here is just a small sample of what the world is offering that may make them think twice: In vitro meat In 2013, stem cells were taken from a cow and grown [...]
