Editor’s notes: The great Civil Service myth, and why it’s time to shake things up… January 6, 2017 Though probably not on your daily reading list, Dominic Cummings (former adviser to Michael Gove and a top dog in the official Leave campaign) writes a fascinating blog. In between posts on artificial intelligence, super-computing and advanced physics, you’ll find reflections on his time working at the Department for Education as Gove’s senior adviser. If you [...]
Make 2017 a year of celebration – not the suffocation of London’s Night Time Economy January 5, 2017 We live in interesting times. This term, actually a Chinese curse, reflects all the hope, possibility and opportunity of a period – as well as the worst that we can imagine from it. What has been “interesting” recently is the overwhelming cultural and political view that the British public is a nasty species that requires [...]
Volkswagen shares are in pole position for a 2017 comeback January 3, 2017 Time to take down the stockings, tuck away the ornaments and get shopping! Because as any bargain-hunter knows, the disappointment that comes from not getting what you want under the tree is easily forgotten by trading up for something better in the January sales. That may be the hope of VW chief executive Matthias Mueller [...]
With diverging monetary policy and more political uncertainty, should investors expect 2017 to be the year that growth makes a comeback? January 3, 2017 This year is being heralded as a new dawn for markets. The economic malaise which has dogged developed economies since the financial crisis will finally subside; the battle against deflation has been won; fiscal stimulus is firmly on the agenda, and real growth will return. Such optimistic assessments may prove to be on the money. [...]
FCA fines plummet in 2016: Epidemic problems in wind down, say experts December 23, 2016 Fines levied by the UK's financial watchdog have fallen to their lowest level in nine years. The amount imposed by the Financial Conduct Authority (FCA) has fell by 97 per cent during 2016 – just £22m of penalties have been dished out, compared with £905m in the previous year. And according to City law firm [...]
After subdued 2016, contrained by Brexit and Trump, these bankers are predicting a 2017 bounceback for UK M&A December 19, 2016 Despite mega-deals involving the London Stock Exchange, Arm Holdings, Sky and a big takeover approach from British American Tobacco (BAT), even the most optimistic M&A banker would concede it’s been a somewhat subdued year for UK deals. After a record 2015, a year in which Megabrew was finally agreed and Anglo-Dutch oil major Shell tied [...]
How Dublin is quietly winning over financial hearts in the Brexit battle December 12, 2016 Ever since June’s surprise vote to leave the EU, London’s crown as a financial leader in Europe has been under increasing amounts of pressure. The German financial capital of Frankfurt has so far proven a powerful contender, with senior ministers reporting an increase in firms applying for licences and top politicians for the region being [...]
Uber treats drivers like Victorian “sweated labour”, says Frank Field in gig economy report December 9, 2016 Frank Field might be more commonly known as one of the thorns in Sir Philip Green's side, but Uber might now have a bone to pick with him too. The Labour MP and chair of the Work and Pensions Committee has uploaded a report to his site analysing the working relationship between Uber and its drivers, [...]
Article 50 rematch: Government heads to top court with revamped Brexit argument December 5, 2016 All eyes will be on the Supreme Court today as the attorney general doubles-down on the government's claim that the Prime Minister does not need parliamentary approval to trigger Article 50. Jeremy Wright will be the first to put forward arguments in the four-day hearing, while lawyers for pro-parliament activists who won their argument at the [...]
UK immigration reached 650,000, its highest levels ever, in the year before the Brexit vote, but cuts to immigration could harm the public finances December 1, 2016 Immigration to the UK reached 650,000, the highest level estimate ever recorded, in the year before the Brexit vote, but influential economists have warned that attempts to reduce net migration could harm Britain’s public finances and even result in higher taxes. European Union immigration also reached its highest ever level, at 284,000, an increase of [...]