Americans do it better (investing, that is) October 9, 2024 British companies are often accountable to passive shareholders, such as pension funds, leading to risk aversion and short-termism. The US invests differently, with much better results, says Tom Focas The UK economy is in dire need of a rejuvenation. Growth is still stagnating, productivity lags behind global competitors, and industries that once anchored the nation’s [...]
Don’t believe Miliband’s spin on green energy September 5, 2024 The only thing “record-breaking” about the latest clean energy auction is the subsidies Ed Miliband’s thrown at it. Time to level with taxpayers about the true cost of net zero, says Tim Focas Here we go again – it didn’t take long did it. The new government, with Ed Miliband at the helm of energy [...]
Fiscal prudence? The iron chancellor doth protest too much July 24, 2024 Rachel Reeves’ decision to expand the powers of the OBR suggests apprehension, not confidence, writes Tim Focas. Rachel Reeves has promised to be an “iron chancellor” embodying fiscal constraint and discipline. Yet, her first legislative move to enhance the powers of the Office for Budget Responsibility (OBR) raises questions about her own confidence in living [...]
It’ll take more than a big screen to revive the London Stock Exchange June 13, 2024 A live market screen in Paternoster Square is no substitute for the cultural and regulatory reforms we need to get companies listing in London, says Tim Focas In what seems like a desperate attempt to breathe new life into London’s equity market, London Stock Exchange Group (LSEG) CEO Julia Hoggett has proposed installing a live [...]
Jacob Rees-Mogg’s Somerset Capital didn’t fail because of his politics December 15, 2023 The demise of Somerset Capital, the London-based emerging markets boutique co-founded by ex-Brexit minister Jacob Rees-Mogg, has sparked concerns about how his divisive brand of politics might have played in its downfall. Back in 2018, Rees-Mogg faced probing questions when it emerged that Somerset Capital had launched a new fund in Dublin amid concerns about [...]
Relax, the EU needs a last-minute equivalence deal with the City too November 17, 2020 How do things look when it comes to financial services post-Brexit? At first glance, not good. Despite chancellor Rishi Sunak stating that the UK would grant the EU access to its markets, Brussels is claiming it will only allow the City access to European markets if it is “in the EU’s interests”. With less than [...]
DEBATE: Did Chinese regulators have a legitimate reason for halting the IPO of Jack Ma’s Ant Group? November 6, 2020 Did Chinese regulators have a legitimate reason for halting the IPO of Jack Ma’s Ant Group? Tim Focas, head of capital markets at Aspectus Group, says YES. For any public listing, but in particular one of this magnitude, smart and sound regulation is of paramount importance. It can’t be one rule for one firm looking [...]
Time for City pragmatism to override political posturing in Brexit trade talks August 20, 2020 Just how much more time can Westminster and Brussels policymakers really afford to spend on shadow boxing? Can the UK government really ignore warnings from Brussels that the EU may not be in a position to grant the UK access to European financial markets? Conversely, can the EU risk being without access to London’s financial [...]
Can the Boris government really avoid Austerity the sequel? June 8, 2020 There is still a widespread view that austerity at the start of the last decade was somehow a political choice — that David Cameron and George Osborne (remember them) thrust the term into the political discourse simply as an ideological excuse to shrink the size of the state. But far from being a political smokescreen, [...]
Coronavirus: Global trade offers a route to recovery April 7, 2020 For years now, we have had to put up with endless rhetoric about how political and economic interconnectivity between countries has demonstrably failed to deliver prosperity for all. # Depending on whether you were on the liberal free-trade, or the more protectionist side of the Brexit (remember that) argument, globalisation as we have known it [...]
