Shops tell Osborne to lift sector by going easy on new tax hikes November 12, 2012 RETAILERS yesterday sent a list of demands to George Osborne ahead of the chancellor’s Autumn Statement next month, calling for measures to save the struggling sector. Osborne should freeze business rates, scrap the delayed plans to increase fuel duty, and ensure that the minimum wage does not rise at a rate that “does not exceed [...]
Wage cap on agenda as clubs look to regulation November 14, 2012 A WAGE cap in the Premier League could move closer to reality today when club chiefs meet in London to firm up plans to prevent an estimated £5bn television revenue windfall going straight into players’ pockets. Other proposals up for discussion include adopting so-called financial fair play measures similar to those introduced by European bosses, [...]
Greece to flog Holland Park consulate September 19, 2012 THE GREEK government is expected to sell its consulate in Holland Park as part of wide-ranging measures to cut costs and maintain the support of its bailout providers. The elegant terrace house in west London is currenly undergoing renovation (pictured above, pre-renovation) and could be one of many foreign buildings sold off. Meanwhile reports from Athens said [...]
Investors should expect a perfect storm of global political instability November 19, 2012 VIOLENCE in Israel and Gaza may seem to be a solely political (or geopolitical) issue. But politics has implications for all investments, and particularly sovereign debt. Governments drive policy and policy drives the bond markets. Instability used to be more of an issue for emerging markets. But we are now entering a new age of [...]
Autumn statement December 5, 2012 THE BUSINESS CONFEDERATION’S VIEW DIRECTOR GENERAL JOHN CRIDLAND The CBI is the UK’s top business lobbying organisation. It aims to influence government policy on a wide range of business matters. “£5bn on near-term infrastructure, like the tube to Battersea, half a billion a year tax relief for small firms, and £1.5bn extra export support should [...]
Draghi urges Germany to back ECB rescue plan September 25, 2012 EUROPEAN Central Bank chief Mario Draghi urged Germany to support its plan to buy up more bonds of troubled Eurozone governments, at a speech in Berlin yesterday. Draghi said that he respected German reservations over further interventions from the ECB, yet insisted that it is in the country’s interest to get behind measures intended to [...]
UK gilt yields may be ready to spike higher November 12, 2012 IF UK government bond yields jumped rapidly, the UK could be plunged into a credit crisis that would make the last time look mild. Institutional investors would be lumbered with illiquid assets that they could not shift, paralysing money markets. The chances are slim; but previous crises have taught us to be prepared. The UK [...]
Milan chief’s fears over Financial Fair Play October 11, 2012 ONE of the leading executives in European football has voiced his fears that impending Financial Fair Play (FFP) rules could damage rather than improve the sport. AC Milan organising director Umberto Gandini, also a vice-chairman of the influential European Club Association, predicted FFP could force clubs into making cuts at a time when investment was [...]
Haldane attack on inconsistent Basel risk rules November 7, 2012 THE BASEL rules on bank capital levels are “built on the shakiest of foundations,” the Bank of England’s Andy Haldane warned yesterday, arguing that banks have too little certainty in how to risk-weight their assets. The official also told MPs and peers that insurance rules are similarly poorly designed, bank bondholders should get votes like [...]
How I plan to apply the lessons of business to running government September 19, 2012 DESPITE the progress made in cutting the deficit, this country is facing one of its most difficult economic situations. But my experience tells me that it is at these moments that you can generate the best results. It would be a wasted opportunity if we didn’t use it to make fundamental changes to the way [...]