How executive pay regulations can increase inequality – not reduce it May 7, 2014 IN JUST two months, Thomas Piketty’s Capital in the Twenty-First Century has taken the world by storm. In it, he argues that substantial increases in inequality can only be reversed through government intervention. Piketty’s own suggestion is a 2 per cent annual wealth tax, and income tax rates of up to 80 per cent. In [...]
Shell sees earnings plummet after impairment charges April 30, 2014 It’s the first set of results for new chief executive Ben van Beurden and, in the first quarter, Shell saw a 36 per cent drop in income before tax, down to $8.6bn (£5.1bn) from a year earlier. But shares have gained over three per cent this morning, to their highest since 2012. With several numbers [...]
Global corporate results round up April 29, 2014 ABB redoubles its work to fix power systems unit after shock profit drop SWISS engineer ABB said it would up work to overhaul its power systems unit after posting an unexpected fall in first-quarter profit because of weak orders and costly delays to wind and solar power projects. Shares in the Zurich-based firm dropped seven [...]
Politicians must not interfere to block takeovers of UK firms April 28, 2014 THERE is how the French do things, and then there is the British way. Germany’s Siemens and America’s General Electric are both seeking to woo French politicians as they prepare their rival offers for Alstom. In the UK, however, America’s Pfizer knows who it really has to convince if it is to pull off its [...]
Asian markets tumble as Russia sanctions loom April 28, 2014 Asian markets are in retreat after a lacklustre performance on Wall Street and western nations prepare to impose further on sanctions on Russia in wake of heightened tensions in Ukraine. Representatives from all 28 EU member states will meet today to impose travel restrictions and asset freezes on a further 15 influential Russians, according to [...]
Why MPs need to vote against the expensive folly that is HS2 April 28, 2014 TRAIN and tube lines are vital for London. Most people commute by rail, and projects like Crossrail or the Northern Line extension will do a huge amount of good. We need even more of them – Crossrail II sounds sensible – and to make sure that they are financed privately to minimise the burden on [...]
How Britain can nurture the next generation of super-entrepreneurs April 27, 2014 THOMAS Piketty’s Capital in the 21st Century is setting the bestseller charts alight in a way that economics tomes usually cannot. For those insistent upon the importance of economic equality, it is the most anticipated release since Kate Pickett and Richard Wilkinson’s The Spirit Level. But is the accumulation of wealth inherently bad? In research [...]
Here’s why 2014 could still prove a great year for Bitcoin bugs April 25, 2014 The past few months have proved to be a tough time for cryptocurrency Bitcoin. The MtGox exchange suffered a dramatic fall from grace, while the price of the digital currency has fallen by 37 per cent the year to date. However, things may be looking up for Bitcoin as venture capital money continues pour in [...]
Here’s why 2014 could still prove a great year for Bitcoin bugs April 25, 2014 The past few months have proved to be a tough time for cryptocurrency Bitcoin. The MtGox exchange suffered a dramatic fall from grace, while the price of the digital currency has fallen by 37 per cent the year to date. However, things may be looking up for Bitcoin as venture capital money continues pour in [...]
Conviviality Retail in talks to buy Bibby’s Rhythm & Booze stores April 24, 2014 BARGAIN Booze owner Conviviality Retail confirmed yesterday it is in talks with rival off-licensing group Bibby Retail Services to buy a portfolio of stores as it seeks to gain a greater foothold in Yorkshire. The company, which floated on Aim last year, is understood to be interested in buying around 20 of the 50 shops, [...]