How Moral is ESG? September 20, 2023 ESG is immoral. So argued Milton Friedman, an economist, back in 1970. Customers, employees and stockholders, he said, did not need company executives to spend their money for them. If an executive, operating in a competitive market, took an action that reduced her company’s profits in the name of “‘social responsibility’”, she then had to [...]
Interest rates: Will Bank of England hike or hold after inflation surprise? September 20, 2023 Inflation saw a surprise fall in August, complicating the Bank of England's decision to hike or hold interest rates
Surprise fall in inflation leaves Bank of England rates decision on knife-edge September 20, 2023 Inflation fell unexpectedly in August as falling food inflation helped offset rising energy costs, official data out today shows. According to figures from the Office for National Statistics (ONS) the consumer price index (CPI) came in at 6.7 per cent in August, down marginally from 6.8 per cent in July and lower than the roughly [...]
Get that bread: Baking giant picked up in yet another London take-private September 20, 2023 Finsbury Food Group, the baker behind a raft of own-brand supermarket products and the maker of Thornton's cakes, is set to go private after accepting a bid from an Isle of Man-based fund manager.
‘Higher costs, poorer services’: London business chief slams Whitehall failings September 20, 2023 The boss of an influential London lobby group has said a "British disease of short-termism" is holding the capital's economy back
How Brits (and businesses) fell in love with the humble retail park September 20, 2023 On the outskirts of every bustling town and city lies the reliable, yet boring, retail park. But, as dull as they may be, retail parks are having their moment in the sun.
The Notebook: Neil Bennett on why the ONS needs a shake-up, why the CBI’s future is shaky once more, and a new history of the Barclay Brothers September 20, 2023 The ONS is in need of a shake-up When I became a CEO some 13 years ago, I was taught one rule very quickly; hit your forecasts. Boards and bosses can be quite forgiving on many fronts, but if you don’t deliver the numbers without a really good reason, it quickly becomes a career terminating [...]
Bitcoin peaks at $27,460 before retracing as investors gauge Fed’s direction September 19, 2023 Bitcoin broke through $27k yesterday and continued climbing until it met resistance at $27.4k this morning.
UK set for stubborn inflation and slow growth, OECD warns September 19, 2023 Inflation in the UK will be higher than previously expected next year while growth will be lower, according to cheerful new forecasts from the Organisation for Economic Co-operation and Development (OECD).
FTSE 100 close: Strong results from Hargreaves Lansdown and Ocado tip index into green September 19, 2023 Strong performances from Hargreaves Lansdown and Ocado helped tip the FTSE 100 into the green despite concerns around inflation.