A balance must be struck between accountability and preserving quality in banks’ boardrooms October 8, 2014 The news that two directors of HSBC’s UK operation are stepping down because of proposed bank sanctions provoked a predictable reaction: good riddance, cried one commentator; they exerted no real influence anyway, exclaimed another. Both missed the point. The timing of the resignations of Alan Thomson and John Trueman could not have been more [...]
Arbitrarily criminalising banking is a reckless way to reform British finance October 8, 2014 THE RADICAL plan to prosecute bank bosses for reckless misconduct in the management of a bank is ringing alarm bells across the City, with a slew of top bankers now threatening to join the duo from HSBC in quitting the industry in protest. The political allure of the proposal is clear. Since the financial crash [...]
Middle of the road Clegg is meandering into Lib Dem electoral oblivion October 8, 2014 IN MOST walks of life, being timeless is a good thing. Not so with political speeches. Yesterday, Nick Clegg delivered the closing address of the Liberal Democrats’ annual conference in Glasgow, a speech so forgettable that he could have given it a year ago. There’s every chance he had actually given it before. The deputy [...]
It’s Laffable: Why hiking capital gains tax would only depress revenues October 8, 2014 THE LIBERAL Democrats have proposed raising capital gains tax (CGT) rates in order to reduce taxes on the least well off. Go to the back of the class! CGT is a bad tax implemented badly. There is no more revenue to be raised. The case against CGT on investments is overwhelming. Capital gains tend to [...]
Is Morgan Stanley right that the car industry as we know it is about to die? October 8, 2014 Stian Westlake, executive director of research at Nesta, says Yes. Car-sharing services already make it possible to rent a car for days, or even hours. And within five years, Google expects to be selling vehicles that can drive themselves. You can see where this is heading: if you can rent a car whenever you need [...]
How to answer “where do you see yourself in five years’ time?” in a job interview October 8, 2014 Where do you see yourself in five years’ time? This is a popular interview question for a number of reasons. Employers like having workers with ambition. Ambition means having goals and aspirations and consistently working hard and understanding what you need to do in order to succeed. However, employers also want employees who will work [...]
UK philanthropists must embrace innovation – or risk falling behind demand October 7, 2014 GIVING away money is a serious business, and one at which the UK excels. But we could do better still. New Philanthropy Capital has spent more than a decade advising people on how they can direct their cash to good causes. We work with recipients too, teaming up with UK charities to help them become [...]
Forget a penal mansion tax: It’s archaic council tax that needs desperate reform October 7, 2014 WHILE the party conference headlines have focused on Ed Miliband forgetting to mention the deficit, both the Labour leader and David Cameron were also guilty of only referring to “investment” twice in their conference addresses. When that happens, you know political minds are on next May’s general election, rather than on what is best for [...]
Can a pill stop you drinking? Why short-term nudges won’t change behaviour October 7, 2014 THE NATIONAL Institute for Health and Care Excellence (Nice) has been the butt of much ridicule over the past week. A pill designed to reduce alcohol consumption among problem drinkers is set to be made available across the NHS. But the concept of problem drinkers is so wide that it embraces people who enjoy a [...]
After a nurse contracted the Ebola virus in Spain, should we fear a global catastrophe? October 7, 2014 Dr Ian Kearns, co-founder and director of the European Leadership Network, says Yes. The US Centre for Disease Control and Prevention has warned that, without additional intervention, Ebola could infect up to 1.4m people in Liberia and Sierra Leone by January. It won’t stop there. With increased travel and immigration, the disease will go global. [...]