London’s future growth depends on bridging the east Thames chasm July 10, 2014 London is growing – and it is growing eastwards. A combination of large-scale redevelopment projects and underdeveloped land means that east London is in demand for both new homes and jobs. Over a fifth of all developments underway in London today are taking place in Newham, Tower Hamlets and Greenwich, while over a third of [...]
As Burberry faces a shareholder revolt over chief Christopher Bailey’s pay, is he worth it? July 10, 2014 Qing Wang, professor of marketing and innovation at Warwick Business School, says Yes. The success of Burberry is largely attributable to its seamless combination of creativity with tradition, which many think epitomises the essence of Britishness. Its chief executive Christopher Bailey is highly experienced (he worked as a designer at Gucci, then as creative director [...]
Massive debts mean Europe faces years of stunted growth July 9, 2014 The dramatic fall in Eurozone sovereign bond yields has led some to herald the end of the crisis. We believe this is premature. In reality, the fragile recovery remains under threat from the record debt levels built up during the financial crisis; these debts are not going away any time soon. For Portugal, Spain, Greece, [...]
Brazil’s World Cup woes expose a far more worrying economic reality July 9, 2014 The dream is over in Brazil; the illusion shattered. Despite President Dilma Rousseff’s claims that this would be the World Cup of all World Cups, for Brazilians it is now seen as the disgrace of disgraces. The national team’s hammering at the hands of Germany is likely to refocus attention on the tournament’s exorbitant cost [...]
Forget the celebrity tax allegations: Our complex system is the real issue July 9, 2014 Take That’s Gary Barlow has again been reported to have participated in complicated tax avoidance schemes. And as ever, discussion on the subject has been clouded by inaccurate reporting. Many have claimed that personal tax avoidance “costs the economy” £5bn a year. This is confused nonsense, based on an HM Revenue & Customs (HMRC) estimate [...]
Do we need stronger restrictions on public sector strikes? July 9, 2014 Mark Wallace, executive editor of ConservativeHome, says Yes. Today’s strike is a farce. The National Union of Teachers walk-out, which is at the heart of the action, is based on a ballot which took place two years ago and secured only the majority support of a tiny turnout. That flimsy, moth-eaten mandate will be used [...]
M&S is having an identity crisis: Only radical action can save it now July 8, 2014 Thousands of articles have been written about, and just as many reasons given for, the ongoing struggles of Marks & Spencer (M&S). The latest one, given only yesterday by none other than the chief executive himself, Marc Bolland, was the “settling-in” period of the new website. This, of course, is balderdash, or at least peripheral [...]
Piketty’s populism is flawed: Capitalism doesn’t mean more inequality July 8, 2014 The financial crisis has undoubtedly created a demand in popular culture for works portraying capitalism in a bad light, such as the recent bestseller by Thomas Piketty – Capital in the 21st Century. Piketty’s writing has gathered increasing attention from economists, who show that his arguments do not bear scrutiny. The focus of Piketty’s work [...]
Why you should get over Salesforce Tower’s name – it’s good for the City July 8, 2014 The proposal to change the name of Heron Tower, one of the tallest buildings in Canada, to “Salesforce Tower”, has been met by more than its fair share of controversy. People have always been resistant to change, but in this case, many of the objections raised seem to be particularly short-sighted. First, [...]
As politicians pledge to end the economy’s focus on London, is this counterproductive? July 8, 2014 Baroness Jo Valentine, chief executive of London First, says Yes. The problem with much of the discussion around this topic is that it assumes the capital’s success is to the detriment of other cities. London is enormously influential in putting the UK on the world stage, due to its position as a leading global hub for [...]