Our real crisis is government silencing the sound and fury of capitalism May 8, 2014 THE STRATEGY is set for the general election on 7 May next year. Expect 12 more months of Labour banging on about the cost of living crisis, and a year of the Conservatives talking up the long-term economic plan. If only they weren’t both wrong. Yes, the Conservatives can justifiably point out the country’s return [...]
Keeping chocolate prices down: A huge greenhouse in Reading could save the world’s cocoa supply through new genetic material January 2, 2015 With demand for chocolate outstripping supply at an unprecedented rate, its price is set to soar in 2015. But a giant greenhouse in Reading has come to the rescue, and could stop chocolate from becoming the preserve of the very wealthy. The International Cocoa Quarantine Centre has been in operation for one month and [...]
We should always heed the law of unintended consequences June 5, 2014 THERE were two reactions to yesterday’s Queen Speech: critics dismissed it as lightweight in the extreme, a collection of reheated policies seasoned with a little trivia; supporters celebrated a government that understands that passing fewer laws is often better than frenetic legislating. Both sides were wrong. For a start, there are revolutionary pension bills in [...]
We should always heed the law of unintended consequences June 4, 2014 THERE were two reactions to yesterday’s Queen Speech: critics dismissed it as lightweight in the extreme, a collection of reheated policies seasoned with a little trivia; supporters celebrated a government that understands that passing fewer laws is often better than frenetic legislating. Both sides were wrong. For a start, there are revolutionary pension bills in [...]
Eurozone QE will be the most inefficient yet – CNBC Comment January 12, 2015 THE MARKET is expecting confirmation of a QE plan from European Central Bank (ECB) president Mario Draghi very soon. Indeed, CNBC learned yesterday that the ECB will more than likely base its highly-anticipated sovereign bond buying on the size of contributions made by national central banks. But whatever form it takes, it will almost certainly [...]
The four most shocking things that happened in 2014 December 23, 2014 1. THE RUSSIA SAGA (Source: Getty) Russia flexed its muscles at the beginning of the year, taking the opportunity during the uprising in Ukraine to plant pro-Putin flags in the Crimea region, triggering a string of catastrophic events to unfold. And it’s likely we’re far from seeing the final act of this epic Russian novel play [...]
Reasons to whine: After the Bordeaux wine market collapse, optimism is creeping back February 19, 2015 Imagine a financial market where prices have collapsed by more than 30 per cent in the past three years, where a hatful of investment companies have gone to the wall and investors are reportedly nursing losses of more than £100m. It sounds like a full blown crisis, doesn’t it? But this isn’t Chinese equities or [...]
Angela Merkel and Syriza are about to open Pandora’s box: Watch out, Eurozone January 11, 2015 It is not often that I feel sorry for German Chancellor Angela Merkel. Having lived in her country since 2006, for me she is the most overrated of modern politicians, having accomplished almost nothing in terms of substantive policy achievements, while somehow being lionised for her lack of ambition. She is the archetype of this [...]
Back to work: Real pay starts rising again after six years of pain April 17, 2014 THE SQUEEZE in real pay-packets that has hit workers over most of the last six years is coming to an end, with earnings finally rising faster than prices. Average total pay rose by 1.7 per cent in the December to February period compared to a year earlier – higher than the latest rate of inflation, [...]
Britain needs a monetary policy fit for a booming economy May 11, 2014 SO what, exactly, is going on? Why does the UK still have crisis-level interest rates at a time when growth is roaring ahead? When will the penny finally drop? Check out the evidence; it is pretty conclusive. The Confederation of British Industry believes that the economy will grow by three per cent this year and [...]