Yen drops then pops on Bank of Japan announcement September 21, 2016 The Japanese yen has hits its strongest level since the end of August, just hours after the Bank of Japan announced an imaginative new approach to monetary policy. The yen initially fell to ¥102.74 against the dollar as the BoJ unveiled its latest package, before gradually strengthening throughout morning trading in London to stand at ¥100.86 against the [...]
The City will remain at the vanguard of financial innovation post-Brexit November 24, 2016 A year ago, London Stock Exchange celebrated the first Green Bond from China to be listed internationally, a landmark renminbi and dollar issuance by the Agricultural Bank of China. I wrote here at the time how London was leading the world in financing the global shift to a low carbon economy – a transition endorsed [...]
We asked economists what they want from Philip Hammond’s first Autumn Statement November 21, 2016 During the rapid post-Brexit shuffle at the top of UK politics many a word was spoken in haste, and perhaps none more so than confident predictions that Philip Hammond would put paid to George Osborne’s austerity politics with a bold return to Keynesian government investment. That might have been a bit rash, but it demonstrates [...]
The best reactions to Theresa May’s speech at the Conservative Party conference October 5, 2016 With promises to intervene in "dysfunctional" markets and reform boardroom pay, Theresa May's closing speech at the Conservative Party conference was, she said, squarely aimed at "shifting the balance in favour of ordinary working people". But how have businesses reacted to her list of pledges, which included a promise to reset the Conservative Party's relationship with [...]
Minicab drivers are staging an anti-Uber protest in Westminster November 22, 2016 A fresh anti-Uber protest has hit the capital, aimed at piling more pressure on the Mayor of London to "take action" against the startup. Minicab drivers are staging a protest from Edgware Road, past Transport for London's offices in Victoria and which arrives at Westminster at 2.30pm. Members of drivers union United Private Hire Drivers (UPHD) are calling on Sadiq [...]
Stop expecting central bankers to grow the economy: They can’t February 2, 2017 In 2008, monetary authorities around the world embarked on an unprecedented series of experiments. As economies tanked and governments throttled back on fiscal measures in the face of huge debts and deficits, people looked to central bankers to use monetary policy to stimulate economic growth. Since then we have seen a range of once outlandish tools [...]
As the UK prepares to leave the EU, is it time for investors to get out of the UK? October 5, 2016 With the FTSE 100 reaching 7,120 yesterday, just undershooting its all-time high, this might seem like a strange time to ask whether investors should be ditching UK assets altogether. However, as the blue-chip index surged, DeVere Group founder Nigel Green warned that Brexit-related risk means that such a “precautionary measure” is increasingly likely from UK investors [...]
Syria crisis: US and Russia reach truce deal and plan to tackle Isis with joint airstrikes September 10, 2016 The US and Russia have reached a breakthrough deal on Syria's peace process that will begin with a nationwide "cessation of hostilities" from sundown on Monday. The two countries, who have been at odds with one another over the five-year conflict and backed opposite sides, have agreed to launch coordinated air strikes against Isis and other [...]
Uber accuses Sadiq Khan of favouring London’s black cabs September 13, 2016 Uber has accused the Mayor of London Sadiq Khan of discriminating against its drivers and favouring black cabs in the capital with new measures to regulate the industry. In an email sent to customers, Uber claims that thousands of minicab drivers could lose their livelihoods with a knock on effect on waiting times and availability of cars. [...]
Mobile is the invisible infrastructure that can drive the economy in post-Brexit Britain October 6, 2016 This week’s State of Mobile Networks report served as a timely reminder of the importance that people and businesses across the UK place on mobile connectivity, particularly superfast 4G. But it also acts as a wake-up call to the fact Britain could be left behind in the global digital race and miss out on an [...]