Global Politics: India and Mexico will rise as Europe dies but the US will reinvent itself once again January 5, 2014 I HAVE long strongly advocated a modest proposal for my clients regarding global political risk: judge analysts as you would a plumber. If we do a good job, rehire us. If not, show us the door. For only by assessing real world outcomes can clients separate snake oil salesmen from the real thing. As I [...]
Victory for the City as EU backs down on banker bonuses December 13, 2013 The European Banking Authority has revised its position on capping banker bonuses. Bankers earning over €500,000 (£420,000) a year could be exempted from the cap if they are deemed not be major risk takers. Institutions will need to seek the permission of the EBA to exempt staff members from the cap. The original restriction sought [...]
UK economy improving but far from cured December 8, 2013 THERE can be no doubt that this Winter Budget – as it should really have been called – was a great win for George Osborne. For the first time since around 2007, Britain is moving in the right, rather than the wrong, direction. Growth has bounced back, the deficit is falling, employment is surging, unemployment [...]
UK economy improving but far from cured December 5, 2013 THERE can be no doubt that this Winter Budget – as it should really have been called – was a great win for George Osborne. For the first time since around 2007, Britain is moving in the right, rather than the wrong, direction. Growth has bounced back, the deficit is falling, employment is surging, unemployment [...]
It’s time to break the Whitehall silo and put startup discipline into government December 3, 2013 THE CURSE of Norman Lamont makes politicians wary of mentioning the “green shoots” of recovery. But when the data show growth of 0.4 per cent, 0.7 per cent and 0.8 per cent in the first three quarters of 2013, it’s clear. The UK is off life support. Sure, the recovery is heavily consumption-led, with exports [...]
Why we need a radical solution to the crisis in our education system December 3, 2013 THE NEWS that UK pupils have failed to make the global top 20 in the OECD’s Pisa tests in maths, reading and science has sparked suggestions that Britain should adopt East Asian teaching and assessment models. But we don’t need to look to the East for answers. East Asian pupils do indeed perform the best, [...]
Europe’s banks told they have €280bn hole December 2, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
What the other papers say this morning – 02 December 2013 December 1, 2013 FINANCIAL TIMES Mass demonstrations shake Kiev Viktor Yanukovich, Ukraine’s president, was under escalating pressure on Sunday night as hundreds of thousands of protesters poured onto the streets of Kiev demanding the overthrow of his government, after it sought to strengthen relations with Russia at the expense of the EU. With the number of protesters estimated [...]
12 times as many bankers earning €1m in Britain than any other European country November 29, 2013 The European Banking Authority has produced figures that show Britain has 12 times as many bankers earning over €1m (£856,000) than any other country in Europe. More than 3,500 bankers in Europe earned €1m or more last year, up 11 per cent from 2011. Britain accounted for 2,714 of the figure with the next highest, [...]
Europe’s banks told they have €280bn hole November 28, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]