Explainer-in-brief: Fracking problems on the horizon for net zero February 15, 2022 The latest flashpoint over the cost of green policies has been about fracking – a way to extract natural gas and oil from shale by pumping a water mixture down into the earth. Around 30 Tory MPs and peers, including Lord Frost, are calling for the ban on fracking to be scrapped. They argue that [...]
The tumultuous tale of LV= has given us a masterclass in how not to negotiate February 15, 2022 For those of us who teach modern negotiation theory, the stalled sale of mutual insurer London Victoria (LV) to Bain Capital, then to Royal London, has been a wonderful case study on how not to conduct deal talks. The journey started well for LV’s board. Their competitive process flushed out bids not only from Bain [...]
If London is the heart of our economy, more TfL fare rises will cut off the blood supply February 15, 2022 From March, every bus or train journey within Zone 1 will go up 10p, after Sadiq Khan announced yesterday that Transport for London fares would rise by almost 5 per cent. For Londoners, this means the average 3-day-a-week commute will go up by £30 a year, on top of rising food and energy prices. It [...]
Britain’s productivity has been battered by the scarcity of affordable homes in cities February 15, 2022 Londoners are feeling the squeeze. The Bank of England has forecast the biggest annual fall in living standards for at least three decades: energy costs are surging, and rents are going up by 5.5 per cent. The high cost of housing leads to a worse quality of life in familiar ways, through lower disposable incomes, [...]
Explainer-in-brief: Love you, love you not: the new China-UK relationship February 14, 2022 In a bid to snuggle up to China’s economy, Boris Johnson has tasked the department for international trade to hold the first high-ministerial talks with Beijing since 2018. Rishi Sunak has moved to restart the UK-China Economic and Financial Dialogue, also cancelled in 2019. The timing of these decisions is a bit baffling, given that [...]
Jo Whitfield’s leave from Co-op is an exercise in privilege as well as change February 14, 2022 Last week, Jo Whitfield, the head of the Co-operative Society’s food arm, announced she would be taking four months of unpaid leave later in the year to help her sons through their A-level and GCSE examinations. On the one hand, the Co-op was lauded for its progressive and flexible approach to employment, and for allowing [...]
When in Rome (or Paris), while in your bedroom: the metaverse of the high street February 14, 2022 When Topshop announced they were pulling out of their flagship Oxford street shop last year, the fatalistic chatter about the end of the high street gathered colossal momentum. The store was eventually snapped up by Ikea, for £378m, but another hole was left in its wake, with House of Fraser closing down too. Despite this, [...]
International travel will never be fully replaced by Zoom meetings for business February 14, 2022 As the worst of the Omicron wave subsides, travel is starting up once more, with countries dropping many of the most stringest restrictions. Many of us associate this with holidays and family reuniones, but it is also an important vector for business. This is especially true for an open economy like the UK’s which, renowned [...]
Best of this week in our opinion pages: from community-based solutions for fighting terrorism to the Bank of England’s dilemmas February 12, 2022 As talks of a definitive lifting of Covid-19 restrictions intensify, workers are coming back to their offices in flocks, bringing liveliness back into the Square Mile. Richard Kauntze wrote about an often overlooked aspect of the City’s inner workings: the unofficial economy of gossip. The City has long thrived on whispered tittle-tattle, which plays a [...]
Explainer-in-brief: China stokes the flames over Taiwan February 11, 2022 This week, China has suspended imports of beef from Lithuania. While Beijing hasn’t justified its decision, it is crystal clear that the move comes after tensions over Taiwan. Lithuania diplomatically recognizes Taiwan, while China claims the island is part of its territory. Taiwan’s foreign minister called China’s actions “bullying”. Trade is a tried-and-tested weapon for [...]