Dovish Carney stuns markets July 7, 2013 EQUITY markets jumped yesterday after the Bank of England shocked investors by indicating that rates would stay at historic lows in the near future, despite recent signs that the British economy is starting to strengthen. At new Bank governor Mark Carney’s first meeting, the monetary policy committee (MPC) took the unusual step of releasing a [...]
Shale gas has given Britain a lifeline if we can take on the vested interests July 5, 2013 WITH the recent suggestion by the electricity network that factories and businesses could be asked to ration power use to prevent blackouts, the announcement of UK shale gas reserves that – if recoverable – would be the largest in the world comes in the nick of time. We must take on the unholy alliance of [...]
The Carlyle Group buys British packaging supplier Chesapeake July 4, 2013 GLOBAL asset manager The Carlyle Group yesterday announced that it has acquired UK-headquartered packaging supplier Chesapeake from private equity house Irving Place Capital and funds managed by Oaktree Capital Management. The deal value is understood to be near £500m, with debt already in place. Financing was provided by Credit Suisse, Goldman Sachs, UBS and Barclays. [...]
Mark Carney should learn from the failure of the Soviet shoe industry July 4, 2013 GROWING up in the West in the 1980s, new Bank of England governor Mark Carney was almost certainly inundated with stories about how the Soviet Union was not only an odious regime, but how even the possibly well-intentioned aspects of Soviet central planning inevitably resulted in sub-optimal economic outcomes. A classic example was shoes. Absent [...]
UK hopes new bail-in deal ends bank bailouts June 30, 2013 BRITAIN’S banks will not have to cough up to build up a bailout fund in case of future failures under an EU deal finalised in the early hours yesterday. Other countries have agreed to charge their banks to build up pots of cash to cover part of the cost of recapitalising broken banks. But the [...]
Bale drops hint at Spurs stay by signing new three-year BT deal June 30, 2013 SOUGHT-AFTER Tottenham star Gareth Bale has given the biggest indication yet that he is to reject the lure of a move to one of Europe’s top clubs this summer after signing a three-year deal to become an ambassador for BT Sport. The new channel will broadcast 38 live Premier League games from next season and [...]
Fresh hopes for UK shale boom June 30, 2013 BRITAIN is sitting on enough shale gas deposits to power the country for the next 40 years, a report claimed yesterday, as the government promised to introduce tax breaks and incentives for explorers. The boost to the UK’s energy industry came as Ofgem warned that homes and businesses could face regular blackouts in as little [...]
Economic perfect storm: The four trends that killed Western growth June 30, 2013 THE West lies at the confluence of four extremely dangerous long-term developments. Individually or collectively, they have already begun to reverse more than two centuries of economic expansion. The first is well-known: the creation of the worst financial bubble in history – “the great credit super-cycle”. Since the 1980s, a relentless shift to immediate consumption [...]
Shale find fuels hope of UK boom June 30, 2013 THE UK’s shale gas industry was given a huge boost yesterday after one exploration firm massively lifted its estimate of the amount of untapped gas resources in the north of England. Initial studies by IGas – one of the few companies with permission to explore UK shale reserves – have shown that reserves in its [...]
Key lessons from Sir Alex Ferguson’s epic football reign June 29, 2013 AFTER 27 years in charge of Manchester United and unprecedented silverware to show for it, Sir Alex Ferguson has cemented his reputation as the most successful football manager of all time. But does his extraordinary track record have anything to teach leaders in the wider business arena? “Be lucky” might be the first lesson. Fergie [...]
