Measuring vice: Why our creative national accountants mostly get it right June 3, 2014 THE OFFICE for National Statistics (ONS) has just increased the size of the British economy by nearly £10bn, a figure equivalent to around 0.7 per cent of its total size. George Osborne has not waved a magic wand, and we have not suddenly become more productive. The reason is that, for the first time, estimates [...]
The state is in crisis – but free marketeers are losing the battle for reform June 2, 2014 DO YOU ever feel government isn’t fit for purpose? The evidence suggests you’re not alone. The EU elections saw anti-establishment parties tear chunks out of mainstream incumbents. In the US, Occupy Wall Street and the Tea Party have shown the degree of discontent from left and right, expressed in partisan gridlock in DC. Some on [...]
Seth MacFarlane: wanted dead or alive for making dreadful Western spoof May 29, 2014 FILM A MILLION WAYS TO DIE IN THE WEST Cert 15 | One Star THERE are a million ways to die in Hollywood, but being one of the worst ever hosts of the Academy Awards apparently isn’t one of them. Seth MacFarlane survived his Oscars nightmare with enough star quality intact to attract a number [...]
Savings dive as confident Brits splash the cash May 28, 2014 HOUSEHOLDS’ annual savings are set to fall by as much as £800 over the next five years, as confidence returns and spending takes over, according to a report out today from the Post Office and the Centre for Economics and Business Studies. Last year, the average household had £3,780 to save after costs such as housing [...]
Francis Maude brings Investec boss and angel investor onto Big Lottery Fund board May 28, 2014 Cabinet Officer minister Francis Maude has appointed three new board members to the Big Lottery Fund, the body that distributes money raised by the National Lottery. Managing director of Investec Asset Management, Elizabeth Passey, Perdita Fraser, an angel investor and partner at consultancy firm SJ Fraser & Co, and David Isaac CBE, a partner at [...]
M&S’s Swannell to help the state sell off assets May 27, 2014 ROBERT Swannell, the chairman of Marks & Spencer, is to become the chair of the Shareholder Executive as the government body gears up for more privatisations and restructuring this year. Swannell, who joined the Shareholder Executive as a non-exec in January, will take over from Patrick O’Sullivan, who is leaving after two and a half [...]
Student loans, uranium, and six other things on the Shareholder Executive’s to-do list May 27, 2014 The government’s Shareholder Executive announced today that it has picked Robert Swannell as its new chair. Swannell, who is also chairman of Marks & Spencer, has been on the board of the group since January, giving him some experience of the group's various portfolio companies. Here are some of the projects that are [...]
Profits soar as SABMiller plans further savings May 22, 2014 SABMILLER, the world’s second largest brewer, led the FTSE 100 risers yesterday after it posted a three per cent rise in profits to $4.8bn (£2.8bn) for the year ended 31 March, beating market expectations. The brewer also announced it would aim to make an additional $500m a year in savings by the financial year ending [...]
UK knocked off top spot: Germany is now Europe’s fastest growing economy May 22, 2014 Germany's economy is growing faster than the UK's economy, although not by a lot. For a while, it looked like the race between the UK and Germany was neck-and-neck in the first three months of 2014. But new figures, published by the Office for National Statistics today, show Germany is edging ahead. German growth data [...]
Why today’s results may be as good it gets for Royal Mail May 22, 2014 Shares in the recently-privatised Royal Mail have fallen by six per cent after the company warned it may never reach its targeted profit margin. At first glance Royal Mail's results appear to be encouraging, with reported profit before tax jumping by 83 per cent, to £1.6bn. Net debt is also down a hefty 39 per [...]