Cameron isn’t trying to ban Snapchat, WhatsApp, iMessage and encrypted messaging January 14, 2015 If the reports were right, David Cameron this week was trying to succeed where Kim Kardashian failed: to break the internet. The reaction against his comments implying the government might ban encryption was loud, angry and fast. This is entirely understandable – even setting aside the civil liberties arguments, any attempt to ban encryption would probably [...]
UK can be the richest major economy in the world says George Osborne January 14, 2015 George Osborne has revealed a plan to make the UK the most prosperous nation in the UK by the 2030s, as he sought to portray a Tory government with more to offer than another parliament of austerity. Speaking in a lecture at the Royal Economic Society, Osborne said that any future government should “aim to [...]
Tesla shares down six per cent after Elon Musk admits to underwhelming sales in China January 14, 2015 Shares in Tesla have dropped over six per cent today, tumbling below $200 a share after comments from its high-profile founder, Elon Musk. Musk, seen as a rockstar investor and chief executive, told journalists at the Detroit Auto show that Tesla’s sales in China were underwhelming in the fourth quarter, giving investors a nasty case [...]
OMT decision: Euro falls to nine-year low as European Court of Justice rules ECB bond buying programme is legal and “necessary” January 14, 2015 The euro fell to $1.17425, a nine-year low against the dollar and below the level it first launched at in 1999 after after a European Court ruled the European Central Bank's (ECB) bond-buying programme was both "necessary" and "in principle". Pedro Cruz Villalon, advocate general at the European Court of Justice, said the Outright [...]
Dalton Philips wins 2015 CEO sack race: Will Marc Bolland be next across the line? January 13, 2015 So, Dalton Philips was the winner of the 2015 sack race in the end, beating off strong competition from rival-favourite Standard Chartered’s Peter Sands and bagging evens odds for anyone who backed him at Ladbrokes. He said an emotional goodbye to hacks on the results call yesterday morning, causing a few cringes, as both Philips [...]
Mark Carney says deflation is possible and wouldn’t be a problem, refuses to be tied to date for interest rate hike January 13, 2015 Mark Carney has tonight refused to rule out the UK entering deflation after figures from the Office for National Statistics revealed the Consumer Price Index slowed to just 0.5 per cent in December. Speaking to ITV, the governor of the Bank of England said that deflation was possible “in a given month on a year-on-year [...]
Mark Carney set to write inflation letter next month January 12, 2015 INFLATION is expected to have dropped too far below the Bank of England’s target, prompting an embarrassing letter from Mark Carney to George Osborne to explain what went wrong. But instead of sending the letter the moment the inflation data is published – at 9.30am this morning – the governor of the Bank will now [...]
General Election 2015: David Cameron plays it safe to fight Ukip and Labour January 12, 2015 David Cameron should be riding high, and he knows it. Such a strong economic turnaround compared with the position in 2010 would traditionally mean he had it in the bag. But with just 113 days to go until the general election he is still neck and neck with Labour. The Prime Minister cannot even take [...]
Thomas Piketty: Anti-austerity parties are good for Europe January 12, 2015 Economist Thomas Piketty's latest argument that the increased popularity of anti-austerity parties is actually "good news for Europe" will no-doubt rile many. He took the world by storm last year with the publication of Capital in the 21st Century which argued for a global, progressive tax of capital to combat increasing equality. It's attracted attention (and criticism) [...]
George Osborne warned oil and gas firms cannot afford North Sea tax regime January 11, 2015 The chancellor must drop taxes on North Sea oil and gas firms as quickly as he raised them, Oil & Gas UK said yesterday. Following the Autumn Statement in December, the Treasury said it would introduce a single basin-wide investment allowance, designed to “reward investment and simplify the tax regime”, as part of a package [...]