Why Poland’s recovery from communism has lessons for Britain now January 15, 2014 POLAND was the only EU country to avoid a recession during the financial crisis of 2007-2009. Polish GDP is now 36 per cent higher than it was in 2005. To put this in context, the comparable figures for the UK and Germany are 5 per cent and 12 per cent respectively. By any standard, the [...]
What the other papers say this morning – 15 January 2014 January 14, 2014 FINANCIAL TIMES Cameron shelves migration report David Cameron shelved a government report on EU migration, after Theresa May, home secretary, failed to provide evidence to support her case for imposing tighter curbs on immigrants. May, whose department was responsible for drafting the report, said last month there was “abuse of free movement” and that some [...]
Bottom Line: Time to take stock after an incredible year January 14, 2014 LAST year was huge for Asos. As the online retailer launched both Russian and Chinese language sites and increased sales by 40 per cent from 2012, shares rocketed – climbing 140 per cent in just 12 months and giving the firm a market capitalisation of close to £6bn. That’s huge. If chief executive Nick Robertson chose [...]
WPP takes a stronger hold of its Russian media investment firms January 13, 2014 GLOBAL advertising giant WPP has taken a majority stake in its WVI Group joint venture, comprised of Russian media investment businesses including GroupM, MediaCom and global marketing communications company JWT. WPP will hold an 80 per cent stake in the WVI Group following the deal, with an agreement to purchase the remaining 20 per cent [...]
Kvitova, Errani and Venus crash in Melbourne January 13, 2014 FORMER Wimbledon champion Petra Kvitova was at a loss to explain her shock exit after becoming the biggest casualty of the first day at the Australian Open yesterday. Sixth seed Kvitova fell to Thailand’s Luksika Kumkhum 6-2, 1-6, 6-4 in one of several upsets in the women’s draw, which also saw Venus Williams and Italian [...]
The three geopolitical red herrings that won’t spook markets this year January 12, 2014 EACH year, we release our Top Risks report, where we consider the ten biggest geopolitical threats to markets and economies, judged by probability and potential impact. What’s at the top of our list for 2014? Uncertainties about America’s foreign policy and China’s ambitious domestic reforms create the potential for volatility and surprises this year and, [...]
How the EU has used the environment as a protectionist weapon January 12, 2014 THE EU has long claimed a reputation as a promoter of free trade – for breaking down boundaries, and allowing capital and goods to flow across borders without hindrance. But protectionism hasn’t disappeared; it’s just taken on a more subtle form. The EU has been using the environment as a trade weapon. Late last year, [...]
The dovish consensus is wrong: It is time for interest rate hikes January 9, 2014 ECONOMISTS seem to lurch from one dangerous fad to another. In the late 1980s, most supported the European exchange rate mechanism, which blew up spectacularly; in the 1990s, many supported UK membership of the euro, which would have been a disaster; during the 2000s, few saw the bubble coming and most missed the credit and [...]
What the other papers say this morning – 06 January 2014 January 6, 2014 FINANCIAL TIMES Europe to ease reform on bank splits Brussels is set to ease financial reforms so that big European banks are not forced automatically to split lending operations from risky trading. In a draft European Commission proposal, seen by the Financial Times, the separation is no longer mandatory, would be less costly and restrictive [...]
Deal-makers are hoping that UK M&A returns to form January 6, 2014 AS WE head into the New Year the City will be cautiously optimistic about likely activity in the corporate finance markets in 2014. Last year saw a major revival in the new issues or initial public offering (IPO) market, which had been virtually dead in 2012. UK IPO revenue totals were 274 per cent up [...]