ACCA Comment: For women in business, small steps are no longer enough July 16, 2014 We must fire on all cylinders for gender equality to happen. As an analogy for the barrier women face to career progression, the glass ceiling has been around for so long that it seems unusually robust for something supposedly so fragile. Yes, more women are breaking into the higher echelons of business and [...]
We must recapture the power of long-termism to restore faith in the market July 16, 2014 Peter Lynch, the great American fund manager at Fidelity, returned an average of 29 per cent a year for his investors between 1977 and his retirement in 1990. An investment of $1,000 at the outset would have grown to $27,000 by the end of that period. That exceptional long-term record shows the huge power of [...]
Directors pile pressure on Sir John Peace ahead of crunch AGM July 16, 2014 City grandee Sir John Peace is under fire again over poor governance at the firms he chairs, with the Institute of Directors (IoD) attacking his succession planning at Experian. Serial chairman Peace is facing his third shareholder rebellion of the year, after complaints over his stewardship of Burberry and Standard Chartered. He is leaving Experian’s [...]
European Bank told to bring in QE to boost bloc July 14, 2014 THE International Monetary Fund (IMF) called on Eurozone policymakers to begin quantitative easing yesterday, painting a bleak picture of the prospects for the bloc if current trends continue. “If inflation remains too low the European Central Bank (ECB) should consider a substantial balance sheet expansion, including through asset purchases,” said the international watchdog, as it [...]
EU maternity leave law set to be shot down by Commission July 7, 2014 A draft directive intended to ensure 20 weeks fully paid maternity leave across the EU looks likely to be blocked by the European Commission under its Regulatory Fitness and Performance (REFIT) programme, according to Euractiv. REFIT is one the European Commission's programmes to make EU law simpler and reduce regulatory burdens to foster growth and [...]
UK house prices up to 2007 peak as pressure builds July 2, 2014 House prices across the UK are back up to their 2007 peak, according to a new report by Nationwide. The figures show that prices increased by one per cent in June, an 11.8 per cent increase on the same period a year previously. Prices in London continue to trump those across the rest of the [...]
Letters to the Editor – 02/07 – Flexible working, EU reform failures, Best of Twitter July 1, 2014 Flexible working [Re: Firms fear a backlash over flexible work, Monday] City A.M.’s reporting on the new flexible working regulations omits the crucial point that staff can request flexibility in work location, not just hours. This reflects a common misconception among employers that flexible working is synonymous with flexi-time. In fact, multi-location working (usually involving [...]
Mark Carney to decide on property market limits June 23, 2014 The Bank of England’s latest report on the country’s financial stability is released this week, with the potential for fresh action to cool London’s frothy housing market. The Bank’s financial policy committee (FPC), which is chaired by governor Mark Carney, releases its twice-yearly outlook in systemic stability on Thursday. The governor and other policymakers have [...]
Independent Scotland could be a financial powerhouse June 23, 2014 Scotland could become the Frankfurt of the north, a new report out today claims, adding that the country could become one of the five wealthiest in the world if it seeks to position itself as a centre for financial services to rival London. The Scotland means Business report, commissioned by business group N56, sets out [...]
Watchdog to start tribunal over Baker Tilly audit issue June 11, 2014 CHARTERED accountants Baker Tilly came under fire from the Financial Reporting Council (FRC) yesterday, the latest in a series of issues the watchdog had raised over an audit of accounts conducted for 2007 and 2008. The complaint launched by the FRC concerns audits of financial statements for Tanfield, a manufacturer of electric vehicles, from 2007. [...]