Why this central bank isn’t worried about the rise of Bitcoin May 1, 2014 Top officials from the Canadian central bank have said they are not worried about the rise of Bitcoin and other digital currencies. Speaking to the Senate banking committee, Bank of Canada (BoC) governor Steven Poloz said "these are early days … and so far digital currencies have not made it to what we call money." [...]
Bankers claim strong demand for Altice flotation – The first test of 2014 January 22, 2014 Bankers have just said that their books have been covered for the upcoming £1bn plus issue of shares in Altice, which owns French and Belgian cable companies and mobile operations in Israel. It is the first Initial Public Offering (IPO) to price in Europe in 2014. Although the issue has a few days of marketing [...]
Apax edges towards Israeli float of dairy producer January 13, 2014 Israel's biggest cottage cheese producer took a step closer to floating on the stock market yesterday after its UK-based private equity owners approved plans to list the company. Tnuva, which has a stable of top selling brands ranging from kosher chicken to cheese spreads, has been controlled by London-based Apax Partners – owner of UK [...]
Unions threaten to strike after government backtracks on pay March 13, 2014 UNIONS in the public sector are threatening strike action after the government chose to ignore the recommendations of the independent review body for pay, awarding a one per cent increase to some but not all workers in the NHS. Health secretary Jeremy Hunt announced yesterday that 550,000 NHS workers will get a one per cent [...]
Cameron issues blank cheque to pay for flood damage as deluge continues February 11, 2014 THE PRIME Minister promised to spend whatever is necessary to get the country back on track as thousands of homeowners were evacuated amid rising flood water in the south east yesterday. “Money is no object in this relief effort. Where money is needed it will be spent,” Cameron said at a press conference in Downing Street. [...]
Want to change behaviour? Try more markets, not more regulation April 15, 2014 ECONOMICS provides us with a really big insight into how the world works: people respond to changes in incentives. A great deal of public policy is based on this principle. Want fewer people to drive into Central London? Introduce a congestion charge and make it more expensive. It works. In practice, of course, estimating exactly [...]
Cinema chains to star in £1bn mega-merger January 9, 2014 CINEWORLD last night confirmed it is in talks to seal a £900m merger with Warsaw-listed Cinema City International (CCI), a deal that would create a cinema chain with nearly 2,000 screens spread across Europe and Israel. Cineworld, which is due to issue a trading update today, is the UK’s largest cinema operator by market share, [...]
Evidence missing in action as Ireland bans ecigarettes in health facilities April 24, 2014 Ecigarettes are to be banned in Irish health facilities from 1 May. The Health Service Executive (HSE) said the crackdown was justified because the devices "pose a challenge to smoke-free campus enforcement and come with safety concerns for a healthcare environment." The HSE said the decision followed a detailed review of its health policy, adding [...]
Remember Osborne’s global race? We are in danger of losing it January 20, 2014 WITHOUT foreign investment, we would be toast. How many of you, dear readers, work for UK subsidiaries of foreign companies? Or for a business that relies significantly on overseas investors for its debt or equity financing? In the case of the latter at least, the list now includes almost every company listed on the London [...]
Carney welcomes nomination of former colleague Stanley Fischer as Fed vice chair January 10, 2014 Bank of England governor Mark Carney has shared some kind words for a former colleague, Stanley Fischer (pictured). Carney says that he is "delighted by the prospect of Stan Fischer re-joining the global community of central bankers" as Fischer was nominated to the position of Federal Reserve vice chairman by US President Barack Obama today. [...]