Could Jacob Rees-Mogg soon be off to 11 Downing Street? April 12, 2019 The Conservative party has a shortage of the political equivalent of rock stars. These are the politicians that the public would not merely recognise (already a rather an elite cohort), but actually might cross the road to ask for an autograph – or, more usually these days, a selfie. Boris Johnson has this star quality, of course. [...]
Labour’s desire for the Bank of England to control UK house prices is disastrous and illogical April 12, 2019 The Bank of England should be responsible for boosting the UK’s productivity, according to the Labour party, which wants Threadneedle Street to dictate how banks lend money to businesses. Under the leadership of Jeremy Corbyn and John McDonnell, Labour also wants to keep RBS nationalised in order to direct its lending; turn Post Offices into [...]
Barclays boss Jes Staley says Bramson board bid ‘doesn’t make sense’ due to £500m ‘short’ position April 10, 2019 Barclays boss Jes Staley has said activist investor Ed Bramson’s board bid “just doesn’t make sense” as he effectively holds a £500m short position against the bank. Speaking on CNBC, Staley delivered another comprehensive rejection of the US-based investor’s efforts to win a seat on the board. Read more: Activist investor Ed Bramson ramps up [...]
Jeremy Corbyn and Alexandria Ocasio-Cortez love Modern Monetary Theory, but it is just the magic money tree again April 10, 2019 As the Brexit process unfolds, the possibility of a Corbyn government has become much more tangible. Last month, John McDonnell, the shadow chancellor, wrote to the Treasury to say that in power he would require them to “widen the range of economic theories and approaches in which its officials and those in the rest of [...]
You’ve been served: A look at the growing trend for divorce loans April 10, 2019 Divorce law in England and Wales is set for an overhaul. New rules announced yesterday will prevent one partner refusing a divorce when the other partner wants one. It’s hoped that the reform will speed up “no-fault” divorces, allowing couples to split with less acrimony, and ending what justice secretary David Gauke described as the [...]
Death of the High Street? Why we’re still backing UK retail April 9, 2019 Following some dire headlines you might rightly wonder why the share prices of UK retailers have recorded double-digit gains this year (see graphic, below). Surely the relentlessly downbeat mood music from the mainstream media (and pessimism among analysts) is confirmation that the UK consumer is in full retreat, and consumer-exposed sectors are in deep trouble? [...]
After Brexit, will Britain remain a land of opportunity? Apprentice star Mark Wright shares his views on startups and the economy April 9, 2019 Winning a reality TV show isn’t normally considered a recipe for success. The stars of such programmes usually end up plastered across the tabloids, followed by performing in a Christmas pantomime somewhere in rural England. But the BBC’s The Apprentice is an altogether different beast. With the backing of business mogul Lord Alan Sugar, the [...]
MPs call for investigation into Lloyds ‘cover up’ of HBOS fraud April 8, 2019 MPs have urged city regulators to investigate Lloyds Bank executives over an alleged “cover up” of fraud at its HBOS unit in Reading. The all-party parliamentary group (APPG) on fair business banking has called for a probe into whether bosses, including chief executive Antonio Horta-Osorio, breached corporate governance and conduct rules. It comes after a separate [...]
UK inflation expectations remain at five-year high April 8, 2019 The British public’s expectations of inflation for 2019 stayed at their highest level in five years, new Bank of England data revealed today. Read more: Inflation edges up from two-year low as food and alcohol prices rise Britons expect the inflation rate – the speed at which prices increase over time – to be at 3.2 per [...]
Activist investor Ed Bramson hits back at Barclays and ramps up pursuit for seat on the board April 8, 2019 Activist investor Ed Bramson has launched another attack on Barclays’ investment bank as he urged shareholders to give him a seat on the board. Bramson, whose investment vehicle Sherborne Investors holds a 5.5 per cent stake, issued a plea to shareholders ahead of a crunch vote on his bid to become a director next month. [...]