Unlikely pairings of demons and classics hold lessons for timid politicians June 21, 2012 NO ONE will ever produce a film called David Cameron: Vampire Hunter. Abraham Lincoln, on the other hand, got a Hollywood blockbuster this week that reinvents his life as a fight to the undeath. Lincoln’s cod-historical battle with soulless, slave-owning bloodsuckers adapts a mash-up biography/monster novel by Seth Grahame-Smith, whose back catalogue of left-field bestsellers [...]
Even the ultra rich are struggling to keep their wealth June 21, 2012 FOLLOWING one of the most volatile periods in the last 15 years, the aggregate investable wealth of high net worth individuals (HNWI) declined by 1.7 per cent last year – the first fall since 2008. This came out of the latest research from the World Wealth Report, published this week by Capgemini and RBC Wealth [...]
RAPID RESPONSES June 21, 2012 Modest proposals [Re: We need a flat tax with no loopholes to reduce avoidance, yesterday] There’s a strong argument for saying that, considering the incompetence of successive British governments in spending tax revenues, legally minimising tax contributions is actually the most ethical option for British taxpayers. Edward Fox The easiest and most effective way to [...]
Reform, not a bailout, will save Italy June 20, 2012 WITH Greece on life support from the European Union and Spain squirming in the financial vice grip of its insolvent banks, talk of an Italian bailout is nigh. Without a growing economy to generate wealth, Italy is having a hard time convincing current and prospective bondholders that it can pay its debts. But throwing money [...]
Obama is banking on Latino votes but the economy is the issue that unites June 20, 2012 THOSE expecting Barack Obama to provide a rousing campaign speech in Ohio were left disappointed. Instead, the President decided to make headlines the following day, issuing an executive order halting the deportation of illegal immigrants who meet certain criteria. It’s a move that may well have reinvigorated the President’s re-election prospects. Immigration is one of [...]
Banks are unable to assess risks of lending to SMEs June 20, 2012 ALBERT Einstein famously quipped that insanity is doing the same thing over and over again and expecting different results. A lesson, perhaps, that chancellor George Osborne and Sir Mervyn King, governor of the Bank of England, should heed. The Bank of England and the Treasury have announced they’re working together on an £80bn “funding for [...]
Will Vince Cable’s proposals to strengthen shareholder power be good for business? June 20, 2012 YES Richard Saunders It’s a good outcome. These proposals give shareholders more leverage and that will encourage companies to take note of their views. Nobody wants unseemly public rows every year but, equally, companies need to be clear about the links between pay and performance. The series of negative votes in this year’s AGM season [...]
RAPID responses June 20, 2012 Corporate charity [Re: Government should stop meddling and leave pay decisions to shareholders, yesterday] Elaine Sternberg is right to criticise government for trying to force companies to act in the interests of society rather than shareholders. But aren’t many firms doing exactly this of their own account? It’s fine for companies to conduct corporate philanthropy [...]
What Britain must do to win back investors from a surging Germany June 19, 2012 BRITAIN is on the verge of losing its foreign direct investment (FDI) crown. After a 15 year record as the leading European destination, the investment tide has begun to flow away. While the UK remains Europe’s top destination for inward projects, we will lose this crown to Germany, within two years, unless action is taken. [...]
Government must stop meddling and leave pay decisions to shareholders June 19, 2012 DEMANDS for government intervention to limit executive pay are misguided. As the WPP vote against Sir Martin Sorrell’s pay and other AGMs this spring showed, shareholders can act – corporate governance is their responsibility. The only way that governments can improve corporate governance is by removing obstacles to shareholder action. Government regulation of corporate governance [...]