At last, a sign of good news in the economic data – the UK’s trade deficit is falling October 25, 2011 AMID the gloom that permeates most economic and financial commentary at the moment, a rather more positive development has become apparent over the past few weeks, but has received scant attention. When revised data were released for the second quarter of 2011, on 5 October, most analysis concentrated on the recent deceleration in the economy. [...]
It is a myth that there is no way to quit the euro October 25, 2011 IN 2010, the economist Barry Eichengreen wrote: “The decision to join the euro area is effectively irreversible.” That’s certainly the view of Europe’s politicians, busy again today with their latest plan to save the euro intact. They seem to think that any exit from the euro would bring chaos, not only to the exiting country [...]
Hooray for a decline in university applications October 25, 2011 UNIVERSITY applications are 12 per cent down on last year. Some are blaming the government’s lifting of the fee cap from £3,375 to £9,000 a year. Sally Hunt, general secretary of the University and College Union, the trade union for lecturers, claims that this shows the increase to have been a “disaster from the start”. [...]
RAPID RESPONSES October 25, 2011 Define discussion Nick Clegg announced plans yesterday for a new law that will allow protected conversations between bosses and employees. This is a small step in the right direction. My firm advises employers all the time who are genuinely afraid of having frank discussions with their staff about retirement in case what they say is [...]
David Cameron has a point on Europe: We need a vote, but the time isn’t quite ripe October 24, 2011 YESTERDAY’S Tory backbench rebellion over a referendum on Europe has highlighted again how Conservative leaders seem effortlessly capable of creating a political crisis out of a drama whenever the EU edges to the top of the agenda. To be sure, none of the three main parties have a consistent or honourable record on the question [...]
The Russians are coming: Roll out the red carpets October 24, 2011 BACK in the mid-1960s, I wasted a wet afternoon watching a truly silly film. The plot was a melange of bluster, misunderstanding, clashing cultures and xenophobia. The title was The Russians Are Coming, the Russians Are Coming. Readers with an interest in the City’s health will recognise a plot that is in danger of repeating [...]
Ireland can help teach experts to be modest October 24, 2011 WHAT lessons can Britain draw from Ireland? Institutions in Crisis: European Perspectives on the Recession is a new book edited by monetary economist David Howden, presenting essays on how the financial crisis has played out across Europe. I have a chapter on Ireland, in which I make a fairly simple argument. In 2007, Irish real [...]
RAPID RESPONSES October 24, 2011 Thrive responsibly Bill Durodie [Why so-called corporate-social responsibility is not the answer to our problems, yesterday] appears to be under the spell of the ancient myths of corporate social responsibility (CSR) – myths that the majority of the FTSE have left behind long ago. A study today of FTSE 100 and increasingly FTSE 250 corporate [...]
Why so-called corporate social responsibility is not the answer to our problems October 23, 2011 WHAT’S your image of a socially responsible company? One that pledges not to pollute unnecessarily and donates a percentage of its profits to supporting vulnerable communities or habitats maybe? Better still, one that encourages its staff to volunteer their time to achieving this? Certainly one whose aims go beyond making a profit and are clear [...]
An insider’s take on what Mifid 2 means to the UK October 23, 2011 AT A TIME when growth in the UK economy is stalling, any proposal that aims to make it easier for businesses to raise capital should be welcomed. I hope that a single rulebook will improve the regulatory framework for investors but there are many elements of the Commission’s new Market in Financial Instruments Directive (Mifid [...]