Are senior bankers right that London would remain the leading centre for currency trading in the event of Brexit? March 15, 2016 Declan McEvoy, founder of Coalface Capital and a former investment banker, says Yes. While Brexit would potentially detrimentally affect fund management (mainly because of the EU passporting regime), the currency markets are an altogether different matter. London’s dominance is a function of several factors. First, its pole-position from a time-zone perspective – FX is a 24 [...]
Budget 2016: It’s time for the Treasury and George Osborne to find elusive cuts, not introduce stealth taxes March 14, 2016 A guaranteed way of keeping someone on your side is to print a bigger number at the bottom of their monthly pay slip – a fact recognised by employers and politicians alike. George Osborne is expected to lift the personal allowance again during Wednesday’s Budget (a commendable continuation of the Liberal Democrats’ longstanding policy) and [...]
Psychology of Donald Trump: Why the US has gone mad for this demagogue March 14, 2016 It has become the curse of the current social season. Arrestingly, wherever I am speaking or consulting in Europe, once the people I am mingling with realise I am both a Republican and a person for whom – at least until a few moments before – they had some regard, the same depressing pattern repeats itself. Almost [...]
How City firms are using innovation to combat societal challenges March 14, 2016 My mayoral theme “Innovate here, Succeed anywhere” reflects the reputation of the City and the UK for creative energy. From baristas to barristers, professional services to everyday services, innovation means success – both in and out of the office. Strong and healthy commerce depends on strong and healthy communities – and yet many areas of London [...]
Give business a break: Why the chancellor’s Budget should prioritise stability over radicalism March 14, 2016 The chancellor faces an important choice this week, as he delivers his fourth big fiscal plan in 12 months. It comes down to a choice between yet another radical Budget – with all the uncertainty and disruption that may cause for businesses – or a steadier approach that gives firms and the government itself the [...]
With the Budget looming, has George Osborne missed his chance to balance the books? March 14, 2016 Kallum Pickering, senior UK economist at Berenberg, says Yes. As if he ever had much of a chance in the first place. If the precedent of consistently missing his targets year after year isn’t enough, the numbers speak loud and clear. In the first 10 months of this fiscal year, George Osborne has rattled through 90 [...]
Why don’t Manchester United have a women’s team? It’s a business no-brainer for Ed Woodward and the Glazers March 11, 2016 An Official Digital Transformation Partner, an Official Paint Provider, an Official Global Noodle Partner… the list goes on. Manchester United’s commercial team are experts at milking cash from the club’s global reach and appeal. It seems that everything and anything that can be sponsored at Old Trafford already is, yet still United continue to unveil [...]
The UK is the sport industry capital of the world – its businesses must lead the way with corporate responsibility March 11, 2016 In case you hadn’t noticed, the UK is sport mad. We watch, discuss, engage and play sport with great passion. So it’s not surprising that we are pretty damn good at the business of sport as well. Led by the Barclays Premier League we have an industry worth an estimated £24bn per year. But more [...]
Buy-to-let tax changes: A perfect storm for landlords and tenants March 11, 2016 Upcoming tax changes have ignited debate about the role private landlords should play in meeting the UK’s housing needs. Focus has fallen on buy-to-let but, as the Institute for Fiscal Studies, among others, has noted, landlords are taxed much less favourably than home owners. Following last year’s Autumn Statement, which outlined plans for an additional [...]
The EU has left it too late to do the right thing over the refugee crisis – and now Brexit looks like the less risky option March 11, 2016 Angela Merkel was cast as the heroine of the refugee crisis last year, bravely throwing open Germany’s borders to desperate masses attempting to cross the Mediterranean. By contrast, David Cameron and the UK more broadly was cast as the villain. Lurid (and false) claims we had taken in only around 200 refugees added colour to [...]