Weak GDP figures won’t mean the economy is about to fall off a cliff July 22, 2012 A BIG health warning should be attached to the second quarter gross domestic product (GDP) figures, when they are released on Wednesday. GDP figures – the official estimates of UK growth – can be very misleading. They can be distorted by temporary one-off effects (including the weather). They are frequently revised, so the initial estimates [...]
Europeans need a Tea Party to reject crony capitalism July 22, 2012 MOST Eurozone news is almost unbearably predictable. Since 2010, politicians have endlessly talked about an “existential danger” to the euro, unless extraordinary measures are taken. We keep hearing from politicians who tell us that the only way to stave off catastrophe is to engineer another bailout – of a bank, of a nation, or of [...]
The City must aspire to the Olympian ethos of competitive sportsmanship July 22, 2012 NOW THAT the Olympic Flame is in London – having made a dramatic aerial entrance last Friday, courtesy of the Royal Marines – this is the capital’s moment to shine. The weather forecasters are doing their bit by suggesting we’ll continue to bask in glorious sunshine, and boroughs across London are putting finishing touches to [...]
Following arguments that bank regulators have failed, is self-regulation the answer? July 22, 2012 YES Peter Meinertzhagen The main problem with regulation by statutory bodies is that nothing gets done. Witness the inquiry into the fixing of Libor rates. If the governor of the Bank of England could still raise his eyebrows, as in the days of self-regulation, Barclays would have had to act or face the consequences. During [...]
RAPID responses July 22, 2012 Olympic strikes [Re: It’s not all bad: Britain is becoming safer despite recession, Friday] The good news in this article is that the criminals are at least giving us a break in our time of difficulties. On the other hand, a powerful and selfish minority of immigration and border control workers want to put us [...]
Switching bank accounts is easier than many imagine July 22, 2012 IF YOU only sourced financial advice from politicians, you might think switching bank accounts is next to impossible. Ed Miliband pledged that a Labour government would revolutionise banking by clearing hurdles to changing banks. Shadow chancellor Ed Balls alleged that “it’s very difficult to change bank accounts.” If you don’t like your bank’s behaviour – [...]
Fee paying banking will be a very tricky sell July 22, 2012 MARKS & SPENCER ruffled some feathers last week when it announced that it would be charging for the use of its current account – between £15 and £20 a month, depending on whether you want insurance included. In return, customers will receive vouchers for free hot drinks in M&S cafés, M&S vouchers worth £40 and [...]
Cisco’s Olympic ambitions for London’s next entrepreneurs July 22, 2012 THE British Innovation Gateway (Big) is Cisco’s programme to support hi-tech business and innovation, and is a major part of its Olympic involvement as the official network infrastructure supporter for London 2012. Phil Smith, the chief executive of Cisco UK, explains that “Cisco wanted to be at the heart of London 2012”, but the company [...]
Delivering the wrong business message is an elementary mistake July 22, 2012 THE TWO charming young people sitting opposite me beamed with enthusiasm about their new business. “We’re graphic design artists and web designers,” they said as they handed me a brochure. Then it got confusing. The brochure had lots of pictures of little squares, each filled with a capital letter in a fancy font. “We designed [...]
Pull out the stops in a pop-up shop July 22, 2012 POP-UP shops have all the warning signs of a government gimmick: a catchy name, the retail sector’s celebrity-in-chief Mary Portas, and swarms of immodest politicians looking to take the credit. But beneath the layers of puff and guff is a steely policy that could help carve through a stifling regulation that ties the hands of [...]
