Trade union blasts Tata Steel for delays over the sale of its Port Talbot operation June 21, 2016 A British steelworkers' union has launched a broadside on the "integrity" of Tata's sales process as reports emerge that the Indian giant is considering a break-up of its UK steel business. Almost three months after Tata announced plans to sell its UK assets, including Port Talbot steelworks, the Community union has lambasted the firm for a continued [...]
EU Referendum: With just over a week to go, you can expect the debate to become even more heated June 15, 2016 Just over a week ago, the chance of Leave winning the referendum was merely 22 per cent according to a prominent betting exchange. Meanwhile, at the time, one pound was worth $1.455 on forex markets. Yesterday, the same betting exchange rated the probability of a Leave vote at 40 per cent, thanks to a series of [...]
Rival exchange Bats Europe takes on the FTSE with launch of the “BUK100” June 13, 2016 STOCK exchange operator Bats Europe will make an audacious bid to take on the world-famous FTSE group of indices this morning, with the launch a new UK-focused benchmark index. At the forefront of 18 new indices will be the Bats UK 100, or "BUK100", an index of London-listed blue-chips. The rival company is a division [...]
Tom Watson’s call to ban private exit polls shows that even Labour’s moderates are too far to the left June 1, 2016 Such is the state of Labour's front bench these days that deputy leader Tom Watson is considered markedly centrist, a throwback to an era when the top positions were not occupied by unreformed Marxists. But last night Watson reminded us that even the party's so-called moderates have an instinct for blunt, authoritarian interventionism, and policies [...]
Vicar of Dibley and Basil Fawlty go head-to-head over divisive referendum on EU membership May 30, 2016 Freedom of movement laws in Europe have done wonders for the continent's nannies and a new generation of British middle-class families who employ them to look after our brats. One might forgive the traditional English nanny for bearing a grudge against such low-cost competition, but new polling data reveals no evidence of any lingering resentment. [...]
Should we blame empty foreign-owned apartments for London’s housing crisis? The data says no May 26, 2016 London's housing crisis is worsened, maybe even caused, by wealthy foreigners buying up properties and leaving them empty. Right? It’s an attractive argument, identifying a specific and unpopular culprit (the global rich) while spreading the notion that they are to blame for most of today’s social and economic problems. Unfortunately, in this case, the figures [...]
David Cameron’s former adviser Steve Hilton says we need to rip up the banking system to promote competition May 25, 2016 David Cameron's former adviser Steve Hilton has branded the banking sector a "stitched-up, corrupt cartel" that needs to be completely overhauled. In an interview with City A.M.'s Bespoke magazine, Hilton, who this week declared his support for Vote Leave, labelled the industry chronically uncompetitive, and said that new regulations, such as America’s Dodd-Frank reforms, are making the [...]
The break-up plan: It’s high time to end Britain’s banking oligopoly May 17, 2016 It has been called a near banking "oligopoly". The Big Four banks enjoy such market dominance that they reportedly hold more than three quarters of all active current accounts. According to the FCA, the largest six banks also control 80 per cent of the mortgage market. The Competition and Markets Authority (CMA) grew sufficiently concerned [...]
Yes, a Brexit holds many risks – but this wave of dystopian warnings is failing to convince voters May 16, 2016 The IMF’S Christine Lagarde painted an apocalyptic picture of life for the UK outside the EU. As she finished her speech on Friday, she smiled and said “have a lovely weekend.” The response from the Remain campaign was probably “thanks very much, we will.” Meanwhile, the Brexit lobby was left reeling from her assessment that the [...]
Businesses fear a hike to the government’s apprenticeship levy as chancellor George Osborne scrambles to fix the public finances May 16, 2016 The government is refusing to rule out a hike in the controversial apprenticeship levy beyond 2017, prompting a volley of fresh criticism from business groups who have already branded it a “payroll tax”. With George Osborne increasingly unlikely to hit his deficit-reduction targets, economists are warning that the chancellor could – yet again – target [...]
