How the City can play its part in tackling youth unemployment in London February 24, 2013 THE news that several London boroughs – including some that neighbour the Square Mile – are among the areas worst-hit by child poverty is a stark reminder of the tough economic climate many people are facing across the capital. It more vital than ever, therefore, that the City demonstrates how the positive relationship between finance [...]
Three opportunities for investors in 2013 February 21, 2013 THE prospects for the US economy, slower growth in China, and European summits all weighed on the minds of investors in 2012. And this led many to seek shelter in safe havens, like cash. But now “investment austerity” is set to characterise the investing landscape in 2013. The new normal – low yields, greater correlation [...]
Banking depositors’ backstop beefs up its governing board January 23, 2013 TWO top lawyers were yesterday appointed to the board of the Financial Services Compensation Scheme (FSCS) to bolster the leadership team after the departure of two veteran members. The FSCS acts as a fund of last resort for depositors in broken banks and building societies – if they go under, deposits are guaranteed up to [...]
Empty offices look bleak now but are also a sign of optimism January 24, 2013 THE City is changing, and not just because of the skyscrapers about to reinvent its skyline. The firms that are taking office space are changing as well. The trend for insurers to cluster in EC3 around the Lloyd’s building is well-established. Equally striking has been the lack of demand in Cannon Place and the Walbrook, [...]
Construction to plunge further in gloomy 2013 January 13, 2013 OUTPUT in the construction industry will continue to collapse in 2013, according to forecasts out this morning. Construction output will drop by 2.2 per cent this year, the Construction Products Association (CPA) said today, adding to the nine per cent plunge the industry has suffered during 2012. CPA economics director Noble Francis blamed government cutbacks [...]
Practical steps towards improving Britain’s economic relationship with India February 17, 2013 WHEN it comes to bilateral relations with the BRICs, one country where the UK should have an edge on its rivals is India. Not only do we both share a love for cricket – unlike the US and the vast majority of the EU – but Britain is also home to a vibrant Indian community [...]
Building firms move to invoices as traditional finance dries up January 13, 2013 HARD-PRESSED construction firms are turning to invoice financing due to an inability to get traditional credit from banks, according to research out today. The number of building companies borrowing against unpaid invoices jumped 17 per cent in 2012, accountant Wilkins Kennedy said this morning, from 1,629 firms in 2011 to 1,911 this year. The latest [...]
Coalition tinkering on family tax and pensions is too little too late January 7, 2013 THE foreword to the coalition’s mid-term review could have been written in the early 1970s. Perhaps this is not surprising. Policymaking tends to lack a sharp edge in coalition. Compromises must be made, and this can lead to bad decisions. Changes to student fees are a prime example. Most students will pay a lot more [...]
Only real school choice for parents can inspire an education revolution April 19, 2013 IN THE past century, most parts of the economy have seen a fundamental transformation in how things are produced and delivered. Yet schools today function pretty much as they did 100 years ago. The radical progress characterising modern societies simply does not apply to education. And there’s a reason for this. A fundamental difference between [...]
London has never been this important to the UK economy | City A.M. March 17, 2013 IT is an astonishing story. London’s share of the UK’s economic output has just reached an all-time high of 21.9 per cent. Yes, that’s right, despite the crisis, and the City’s woes, London accounts for more of Britain’s economy that at any time in recorded history. The last time it came close was in 1911, [...]