Eight years after the collapse of Lehman Brothers, FutureBrand’s Tom Adams says that perceptions of banks’ brands are improving September 19, 2016 Eight years after the collapse of Lehman Brothers, FutureBrand’s global head of strategy Tom Adams reflects on how the public perceives financial services organisations. In 2014, when his global brand consultancy first began polling professionals in 17 countries to see how they perceived the firms in PwC’s list of global top 100 companies by market capitalisation, [...]
China sees Brexit as a huge opportunity to forge new trading links with Britain September 19, 2016 I returned last week from a key overseas trade visit as lord mayor, to China and Hong Kong. I was accompanied by a number of City firms, and because the trip followed the G20 Summit, held just before our arrival there, all of them expected an exciting and illuminating visit. One of the big topics [...]
Why the Single Market is the problem – not the solution September 16, 2016 With UK exports at £669bn in 2015, it hardly needs to be said that trade is critical to the UK economy. Despite this huge number, however, the UK has the largest current account deficit in the G7, approaching 6 per cent of GDP. Understanding the reasons for the UK’s trade deficit is critical to designing [...]
MPs and analysts issue fresh nuclear warnings over Hinkley Point project September 15, 2016 Fresh warnings have been triggered over the cost, security, and deliverability of Britain’s first new nuclear reactors for decades following yesterday’s green light for the £18bn build at Hinkley Point in Somerset. Hinkley Point C will be built by France’s EDF with £6bn of Chinese investment. It is effectively subsidised by the UK taxpayer under the [...]
Before the bell: What you need to know before the US market open September 15, 2016 The Bank of England has conformed to market expectations and held its key rate of overnight interest at 0.25 per cent, while Apple can't cook up iPhones fast enough. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing to a very health rise ahead of [...]
Raft of positive data from China lifts Asian markets September 13, 2016 Markets in Asia have been reacting to a raft of positive data from China, as both retail and industrial figures beat economists' expectations. In August, industrial production was up 6.3 per cent year-on-year, according to China's National Bureau of Statistics. This was up from six per cent growth in July – and it just beat [...]
EDF workers to strike over French nuclear power plant closure September 7, 2016 Disgruntled workers opposing French utility giant EDF's plan to close one of its nuclear power plants will go on strike next week. Employees at the company's Fessenheim nuclear power plant in North East France said in a statement today that they will down their tools on 14 September. Read more: EDF board members file legal challenge [...]
Theresa May has vowed silence on the government’s position on Single Market membership September 7, 2016 Prime Minister Theresa May has vowed silence on the UK's Brexit negotiations, despite pressure from MPs to clarify the government's stance on Single Market membership. Addressing the House of Commons today, May said she would not provide commentary on talks with the EU. “We will not take decisions until we are ready. We will not [...]
Wake up, Britain: Your post-Brexit future is brighter than you realise September 6, 2016 This is an extract from a speech to be given at the Institute for Turnaround Conference in London on 8 September 2016. Britain's future is brighter than the British realise. This is perfectly obvious to outsiders but the British can’t believe it. Britain has been for some time the second most compelling investment destination after [...]
In from the cold: Russia’s Chinese strategy could hurt European stocks September 5, 2016 Since the Russian annexation of Crimea in 2014, western sanctions have choked the Russian economy. Though Russia is considered to be the biggest loser from these trade and service restrictions, the sanctions are thought to have cost western firms billions of dollars in lost business too. And with the greatest share of Russia’s market, it [...]