The five sins of the Greek crisis that could doom Europe to irrelevance February 22, 2015 There is nothing so dangerous in foreign affairs as being half right. All along, this has been the primary reason I have been far more sceptical about a happy ending to the present euro crisis than conventional wisdom allows for. Both the Greek and German protagonists think they are entirely morally correct. Such an absolutist [...]
UK mid-market has overtaken Germany’s Mittelstand – but we can do better February 22, 2015 Angel investor and entrepreneur Sherry Coutu CBE recently said that “competitive advantage doesn’t go to the nations that focus on creating companies, it goes to nations that focus on scaling companies.” And scaling up, growing, and exporting abroad are all challenges particularly faced by the UK’s mid-market (businesses with a typical turnover of between £10m [...]
From Burma to the City, trust and accountability are essential for growth February 22, 2015 I returned this past weekend from one of my most exciting overseas business trips so far, visiting the burgeoning international markets of the Philippines, Burma and Thailand. Although these countries in South East Asia are all at different stages when we talk about the size, growth and focus of their economies, the common factor is [...]
Will a UK economic boomlet help swing the coming election for the Conservative Party? February 22, 2015 Howard Archer, chief European and UK economist at IHS Global Insight, says Yes. While the latest economic developments may not be enough in themselves to swing the election for the Conservatives, they should sway some voters at the polling booths. The Tories can support their case that they are the best party to run the [...]
How the dark arts of advertising are shaping the UK’s election campaign February 19, 2015 You have been warned (Source: Conservatives, Facebook) “Your worst nightmare just got worse,” warns the headline on one of the latest Conservative Party election posters, painting a picture of Ed Miliband and Alex Salmond united in guffawing victory on the steps of Number 10. A Labour/SNP coalition would mean “chaos” for the UK, say the [...]
MPs are dangerously blurring the line between tax avoidance and evasion February 19, 2015 Never before has tax avoidance – legally arranging your affairs to lower your tax liability, as distinct from the illegal practice of tax evasion – been used as a political weapon in such a high profile way. In the last week, we’ve had it all: smears, claims and counter-claims, and Ed Balls, the man who [...]
Forget Greek misery: Why Europe is turning a corner thanks to structural reform February 19, 2015 AN OBSERVER coming to study “Europe” with fresh eyes and an open mind might well conclude that there is only one game in town: the ongoing negotiations between Athens, Brussels and Berlin over the Greek bailout. Clearly, the outcome is vitally important for the people of Greece, the Greek government’s credibility, and that of the [...]
Is the UK defence secretary right that Russia is a danger to the stability of the Baltic States? February 19, 2015 Andrew Foxall is director of the Russia Studies Centre at The Henry Jackson Society, says Yes This is nothing new – and has little directly to do with events in Ukraine. Russia has been destabilising the Baltic States for much of the last decade. In 2007, it was behind a series of cyber attacks on [...]
HSBC needs to re-learn its ABCs, or better still, its KYCs February 18, 2015 PLAC, CRD-4, the FCA and the PRA: but for HSBC, the most important acronym in the banking lexicon right now is KYC (Know Your Customer). Since inheriting the reins of Europe’s largest bank four years ago, Stuart Gulliver has rarely been out of his firefighter’s overalls. On many of those occasions it was the bank’s [...]
The sea change in private banking: Why HSBC is right about the industry February 18, 2015 The HSBC revelations have been coming thick and fast this past week, and the bank has had to go so far as to apologise for its previous behaviour. It has been adamant that things are now different and that the transgressions of prior years are history. The real question is, can we take them at [...]