Trump does not mean the end of liberalism November 16, 2016 We are told the fifth stage of grief (following denial, anger, bargaining, and depression) is acceptance, and for some people in the US and beyond who this time last week found themselves aggrieved by the outcome of the presidential election, the journey to this final step has been swift. “Trumpism could be a solution to the [...]
City A.M. Awards 2016: Our business heroes make the most of the madness November 11, 2016 Businesses hate uncertainty, so we’re told. The lobby groups that represent UK plc constantly remind us of the benefits of a calm economic and political environment, with benign conditions nurturing growth and prosperity. It’s a nice thought, and an understandable sentiment. But the reality is that life is never straightforward, and some of the business [...]
Autumn Statement: Government has little room for giveaways November 8, 2016 In the early months of 1975, with Britain creaking out of recession, the government’s debt was equivalent to around 56 per cent of GDP. A year later, Harold Wilson was replaced as Prime Minister by James Callaghan who promptly went cap in hand to the IMF. Such was the parlous state of the UK’s economy, [...]
Why Trump could be in for a thumping victory November 3, 2016 As if 2016 hadn’t already provided enough reasons for investors to panic, a late narrowing of opinion polls ahead of next week’s US election is sending shivers through trading flaws. Could Donald Trump steal an incredible (and, in the opinion of many, terrifying) victory next Tuesday? It remains unlikely – but less unlikely than in recent [...]
Autumn Statement 2016: Should Hammond try his luck at some radical tax simplification? November 2, 2016 Scrap corporation tax. Scrap council tax. Scrap capital gains tax. And inheritance tax too. And business rates, the TV licence fee, the apprenticeship levy, all stamp duties, alcohol duties, tobacco duties – get rid of them all! These are the somewhat provocative proposals from a new report covered on today’s front page of City A.M. [...]
Super Mario Draghi marks five years at the top of the European Central Bank November 1, 2016 FELICE anniversario! Today marks five years since “Super Mario” Draghi took the reins at the European Central Bank, tasked with bringing monetary stability to the Eurozone while helping the bloc recover from a severe economic slump – hardly child’s play. It has been an eventful half-decade. Highlights include the now-famous speech in the summer of [...]
Labour’s City man gets real over green belt October 26, 2016 Building in Britain is not always easy, as the debacle over airport expansion shows. The government satisfied business groups yesterday by revealing its intention to allow a third runway at Heathrow – but even though Theresa May has acted reasonably quickly, the verdict follows years of dawdling, and arrives nearly half a century after Harold Wilson [...]
Chancellor Philip Hammond reassures the City over its post-Brexit prospects after reports of Whitehall indifference towards financial services October 20, 2016 Philip Hammond has insisted the health of London’s financial services will form a crucial part of Britain’s negotiations to leave the EU, after a top Conservative MP challenged the chancellor over revelations published in yesterday’s City A.M. During a near-two-hour grilling in front of the highly influential Treasury Select Committee, Hammond backed London to retain its status [...]
Pound’s crash reflects poorly on Downing Street October 12, 2016 Former Bank of England governor Sir Mervyn King spoke out on Monday regarding the previous week’s so-called flash crash in the value of the pound. “The whole thing has generated reactions which are over the top,” King said. Just 24 hours later and sterling was, last night, printing figures below $1.21 as foreign exchange traders in [...]
London mayor Sadiq Khan to call on government to prioritise access to the EU’s Single Market October 11, 2016 London mayor Sadiq Khan will today urge the government to prioritise access to the EU’s Single Market as it enters crucial Brexit negotiations. Speaking at an event organised by the Confederation of British Industry (CBI), Khan will emphasise the need to “safeguard future economic prosperity and help maintain London’s position as a global financial centre”. [...]
