Congratulate to accumulate: Britain’s no-praise business culture is holding our economy back June 13, 2016 A few weeks ago I spent three inspiring days in Silicon Valley. Part of the mayor’s International Business Programme and Silicon Valley Comes to the UK (SVC2UK), in partnership with the British Consulate General in San Francisco and London & Partners, I met legendary entrepreneurs, investors and senior executives such as Sheryl Sandberg at some [...]
With a June rate rise apparently off the cards, has the US Fed left it too late to normalise monetary policy? June 13, 2016 Neil MacKinnon, global macro strategist at VTB Capital, says Yes. The US Federal Reserve got the ball rolling by raising interest rates back in December and looked for an additional four increases this year. This was promptly shelved following the slide in markets in January. My view is that the Fed kept interest rates too low [...]
Don’t bank on an Uber moment… yet June 10, 2016 It’s an interesting time to be working with most of the world’s largest banks. If economic instability, skills gaps and a tsunami of regulation weren’t enough, they now face stern warnings from respected ex-colleagues about the future of the industry. Step forward Anthony Jenkins, the ex-Barclays banker who reiterated last week that banks are facing their ‘Uber moment’. That’s [...]
Why peers must press for a rethink on HS2 into Euston June 10, 2016 It’s been a rough few weeks for the HS2 project. Within days of winning election to City Hall Sadiq Khan questioned the current plans for HS2's London Terminus. News also leaked that the Cabinet Office, concerned at its exorbitant and escalating cost, is undertaking an urgent review of the whole project. This came after news [...]
Could Eurozone stock markets be set for a bull run? June 10, 2016 Over the past 12 months, Eurozone equity markets have underperformed US stocks by around 11 per cent in local currency – or nine per cent in dollar terms. There are a number of different reasons for this – but could the equity markets be about to catch up? Slow and steady European hard data suggest that the domestic economy [...]
Melons and pineapples? Who cares? It will take more than that for supermarkets to fight off AmazonFresh June 10, 2016 Tesco’s current ad features a couple debating whether or not to drive to their local branch to exchange a melon for a pineapple. “We need an excuse,” says the husband. “What? Like I’m long-sighted and I mistook it for a large grape?” replies the straight-thinking wife. The commercial highlights the supermarket’s “No Quibbles” policy. Bought [...]
Twelve reasons Britain is better off remaining a member of the EU June 10, 2016 I studied the process of European integration in some detail at the College of Europe in Bruges where I also became a teaching assistant for a year. I then had the pleasure of doing my PhD thesis at the European University Institute in Florence. So it is probably no surprise that I have a bias on the [...]
Is fintech the new black? Lower trust in disruptors gives banks reason to cheer June 10, 2016 Digital innovation – and more specifically the impact of fintech – is currently the most intensely debated topic in the financial services sector. Two years ago hardly anyone outside the industry had heard of fintech. Now it’s the hottest investment class globally for VCs. PwC recently produced a report claiming that over 20 per cent [...]
Sadiq Khan’s pledge to crack down on Uber smacks of the worst of crony capitalism June 10, 2016 In the fight to succeed Boris Johnson as mayor of London, one thing that did not attract much attention was that both candidates attacked the ride-sharing app Uber. Sadiq Khan did so first, threatening a crack-down on the service in response to a black cab driver who called into a radio show, and Zac Goldsmith, no profile [...]
As Amazon Fresh launches in London, does it pose a real threat to UK supermarkets? June 10, 2016 Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, says Yes. The last thing that the traditional British supermarkets want is another challenge to their model – they’re still busy fending off the shock of Aldi and Lidl’s sharp pricing model. Online grocery sales are growing well ahead of the overall market, so it’s [...]