Month: September 2021

Higher inflation boosts ECB hawks’ case for tightening ahead of monetary policy meeting

German policymakers in particular have been outspoken in their hawkish sentiments. German Bundesbank president Jens Weidmann has publicly criticised the policy, saying it should only be used as an emergency measure.However, ECB president Mario Draghi has sought in recent public appearances to temper talk of a withdrawal of stimulus. More dovish members of the Governing Council are keen to avoid a repeat of the US “taper tantrum”, in which investors rushed to pull money out of bond markets, which had been sustained by the flow of money into fixed income from the Federal Reserve.Read more: Euro plummets as ECB extends QE programme but begins taperingHoward Archer, chief UK and Europe economist at IHS Markit, said: “We suspect that the ECB will stress at its January policy meeting on Thursday that it is sticking to its current monetary policy course until it can be sure that the Eurozone is seeing a sustainable increase in Eurozone inflation to close to 2 per cent.”However, political concerns, particularly around elections in France, the Netherlands, and Germany, mean the ECB is unlikely to change course soon. This could mean a continuation of a European economy running at two speeds, as Germany powers ahead. This marks the fastest increase in prices in Europe’s largest economy since July 2013.Read more: Significant rise in inflation amid a firming recovery predicted by ECBInflation tumbled after the 2011 debt crisis crippled large parts of the Eurozone’s economy, with deflation recorded at the start of 2015 and 2016The doubling of the inflation rate within a month will add to pressure on the ECB to justify its stimulus measures. The bank meets on Thursday to decide monetary policy.At its last Governing Council meeting in December the bank committed to an extension of its asset purchase programme, known as quantitative easing, until the end of this year, while slowing the size of monthly purchases to €60bn per month. Jasper Jolly whatsapp “Divergence between the major economies will be an important theme” in the coming year, said Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics. “Core inflation and wage pressures in Germany already are accelerating, but the inflation trend will stay more subdued in France, Italy and Spain.”Strong increases in inflation in Germany’s powerhouse economy, have driven the headline Eurozone figure. It rose from an annual rate of 0.8 per cent in November to 1.7 per cent to end 2016, according to the German statistical agency.The contrast is stark with other parts of the Eurozone, where deflation has taken hold, including in Bulgaria and Ireland. Higher inflation boosts ECB hawks’ case for tightening ahead of monetary policy meeting Share Inflation in the Eurozone rose sharply in December, the European Commission has confirmed, adding further to pressure on the European Central Bank (ECB) to begin withdrawing its historically expansive monetary policy support on Thursday.Consumer prices across the bloc increased by 1.1 per cent, a steep rise from the 0.6 per cent growth recorded the month before, according to Eurostat. whatsapp Wednesday 18 January 2017 10:22 am read more

European industry fears being left behind without investment in innovation

Friday 27 January 2017 4:43 pm European industry fears being left behind without investment in innovation European industrialists have called for a big increase in efforts to boost innovation as they fear a rise in protectionism and trade restrictions damaging the EU’s economy.The rise in protectionism, most potently symbolised by the rise of Donald Trump as US President, has alarmed business leaders in the European Round Table of Industrialists. Share Jasper Jolly In the face of competition from growth economies such as China and India, Europe must invest to move up the value chain, the group said. whatsapp Bock said: “To adapt to these new developments Europe must increase efforts in the field of innovation, digitisation and strive for free trade and access to foreign markets.”Read more: Eurozone PMI at highest since the debt crisis in 2011Foreign direct investment in 2015 was half the figure before the financial crisis in 2007, while GDP has failed to pick up to levels seen in 2009, according to the World Bank.GDP growth has also been on a steady downward trend for decades – a problem common to many developed economies as the pace of productivity growth has fallen. Developing economies have been able to rapidly catch up, leaving the Europe’s industry vulnerable to increased competition if it does not invest. Kurt Bock, chairman of chemicals giant BASF and a member of the group, said: “It is with great concern that we note a steady increase of potentially trade restrictive measures and a backwards trend in the integration of the European Single Market.”Read more: Eurozone industrial production surge gives surprise growth pictureEurope risks being left behind, the group said, if it does not invest in innovation. Growth across the Eurozone has stagnated since the global financial crisis, with 0.3 per cent recorded in the third quarter. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekUndoPensAndPatronTori Roloff Confirms Devastating News About The FamilyPensAndPatronUndo read more

Government makes savings on latest board appointment for Premium Bond operator

Read more: 60 years on: Premium Bonds are alive and kickingNS&I will make a saving on the appointment as Ackerley will be paid around £185,000 per annum, compared with Platt’s pay of up to £200,000.Ackerley said: ​Ackerley previously ran Barclays retail investment business and has over 20 years in the UK financial services sector.“Ian Ackerley’s extensive experience in retail financial services and effective leadership skills make him the ideal candidate to be the next chief executive of NS&I,” said economic secretary Simon Kirby.But he won’t be the only new face on the NS&I board after the government appointed Ed Anderson, who chaired the board of Yorkshire Building Society between 2008 and 2015, as chairman in January.Premium bonds have come under attack from consumer champions after odds were cut. Nevertheless, their tax-free status means any payouts winners do receive could be more than the return on current accounts. The government has appointed the new chief executive of National Savings & Investments (NS&I), the firm that looks after over £135bn of Treasury-backed savings.Ian Ackerley takes over from interim boss Steve Owen, who babysat the position after Jane Platt left last August following 10 years in the role. Platt moved on to concentrate on her position as a non-exec on the board of the Financial Conduct Authority. Like many people across the UK, I grew up with NS&I: my first savings were in Premium Bonds, which were bought for me as a child. It is a brand I have long admired. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoWolf & ShepherdNFL Star Rob Gronkowski’s Favorite ShoesWolf & ShepherdUndoUnify Health LabsRandy Jackson: “This Drink Is Like A Powerwash For Your Gut”Unify Health LabsUndoDental Implant Info | Search AdsDental Implant Costs In 2021 Might Almost Be UnbelievableDental Implant Info | Search AdsUndo Oliver Gill Thursday 2 February 2017 2:25 pm Read more: Two lucky people just won £1m on Premium Bonds Share Government makes savings on latest board appointment for Premium Bond operator whatsapp whatsapp read more

Commons speaker John Bercow has defended his controversial Trump intervention

Mark Sands Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAmerican Safe BathWalk-in Tubs Installed in 1-2 Days Sweep The US in 2021American Safe BathUndoFast Garage Door FixGarage Door Repair Companies May Actually Charge Lesser in Scottsdale. Check optionsFast Garage Door FixUndouSmile ProSay goodbye to your manual toothbrush. This is the future…uSmile ProUndoPaperelaThe Owner Visited His Restaurants Dressed Like A Hobo. What Happens Next Shocks HimPaperelaUndoHealth.recetasget10 Things your nails may reveal about you and your healthHealth.recetasgetUndoHealthline: Medical information and health advice15 Evening Habits that are Definitely Bad for Night’s SleepHealthline: Medical information and health adviceUndo5log – Livinguard®Back to office? Check out extraordinary self-disinfecting mask! Now 3+1 offer!5log – Livinguard®UndoAnyMuscle.comEnd-of-life symptoms of metastatic breast cancerAnyMuscle.comUndoQuick MedigapArizona Medicare Recipients Are In For A Big SurpriseQuick MedigapUndo whatsapp Share Tuesday 7 February 2017 6:36 pm However, speaking to MPs in the House of Commons, Bercow maintained he was “commenting on a matter that does fall within the remit of the chair.”Read More: There’s no case for cancelling Donald Trump’s state visit to BritainIt came as House of Lords speaker Lord Fowler revealed that Bercow had also apologised after failing to consult ahead of his comments.Fowler said he would “keep an open mind” over any request for Trump to address parliament, but he added that the current system – under which three “keyholders” must approve speakers in the Westminster Hall, may need reform.“There will be other leaders coming to this country who may also be controversial. The procedure as it stands means that either I or Mr speaker can effectively veto any proposal for a visiting leader to address Parliament, as least as far as Westminster Hall is concerned. whatsapp Commons speaker John Bercow has defended his controversial Trump intervention Read More: A quarter of MPs want to bar Trump from addressing Parliament on his visit“I think it is for Parliament for consider whether there is a better way in which such decisions can be made,” Fowler said.Asked if the Prime Minister retained confidence in Bercow, a Downing Street spokesman said yesterday: “The speaker is an issue for Parliament”. House of Commons speaker John Bercow has defended his controversial intervention over Donald Trump speaking in Westminster.Bercow faced criticism after telling MPs he would fight any plans for Trump to address MPs and peers within the Palace of Westminster. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKansas coach fired for using N-word toward Black playerthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com read more

Mongolia agrees terms for $5.5bn IMF-backed loan

Annual growth slowed to one per cent last year, the lowest rate experienced for seven years. Economic pressures have left the government based in Ulaanbaatar with budget shortfalls and looming debt repayments.Read more: Is the Greek debt crisis about to heat up again?As part of the package, the People’s Bank of China is expanding a swap line worth 15 billion yuan (£1.76 bn) and the IMF is providing three year loans worth $440m. China borders Mongolia and is the largest export market for the country’s copper and coal exports.”Fiscal consolidation is a key priority, as loose fiscal policy in the past was a major driver for Mongolia’s current economic difficulties and high debt,” said Koshy Mathai, IMF’s team leader for the package.The Asian Development Bank, the World Bank, and banks in Japan and South Korea, will also be providing funds for the bailout. It is hoped that the new deal will help the Development Bank of Mongolia repay a $580m bond that is due next month. Sunday 19 February 2017 2:51 pm The IMF and its partners have come to an agreement to provide Mongolia with an economic stabilisation package worth $5.5bn (£4.43bn).Rapid growth in Mongolia’s commodities sector had resulted in a fast pace of economic growth, reaching double digit figures between 2011-2013. A sharp decline in commodity prices, plus a fall in foreign direct investment, and a widening deficit, has hit the Mongolian economy in more recent years. whatsapp Share Ashley Coates Mongolia agrees terms for $5.5bn IMF-backed loan by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDefinition.org25 Size Comparisons That Change The PerspectiveDefinition.orgHealthline: Medical information and health advice15 Evening Habits that are Definitely Bad for Night’s SleepHealthline: Medical information and health adviceFoundation Repair | Search AdsFoundation Repair Cost May Be More Affordable Than Ever In 2021, Check OptionsFoundation Repair | Search Adsmaternityweek.comShe’s Been Called The World’s Most Beautiful Nursematernityweek.comMarvelousaCanal Drained For First Time And They Find ThisMarvelousaalldelishThe 14 Healthiest Vegetables on EarthalldelishReadBakery Here’s Why You Should Put a Needle into a BananaReadBakery Fantastic ReadHow To Be Beautiful And Attractive?Fantastic ReadHistory 10Workers At The Washington Monument Have Dislodged An Important Concealed RelicHistory 10 whatsapp There are fears that the country could slip into recession when the austerity measures brought about as part of the stabilisation package start to take effect. According to Mongolian finance minister, Battogtokh Choijilsuren, Mongolia will continue to fund measures such as a universal allowance for the children most in need and a subsidy for some drug costs.Read more: Glencore expects copper production to fall but other commodities to riseNadmid Bayartsaikhan, president at Mongolia’s central bank said the country would no longer be supporting “fiscal policy programmes”, such as a subsidy for certain mortgages.“Monetary policy will remain appropriately tight, given the objective of price stability,” the IMF’s Koshy Mathai said.“Over time, however, as the economy normalises, it may be appropriate to cut the policy rate if external and inflation indicators permit. The exchange rate will continue to move flexibly, with intervention limited to smoothing excessive volatility and preventing disorderly market conditions.””I think we’re looking at a pretty good outlook for Mongolia.” More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org read more

Shares in Apple’s Asian suppliers tumble after Trump calls for iPhone to be made in the US

Callum Keown Shares in Apple’s Asian suppliers tumble after Trump calls for iPhone to be made in the US Shares in Apple’s Asian suppliers have slumped this morning after Donald Trump suggested the iPhone maker should move its production to the US to avoid proposed tariffs on Chinese products.Suppliers in China, Hong Kong and Taiwan have seen their shares tumbles after the US President offered the tech giant a tax incentive to produce in America. whatsapp Share Read more: The iPhone XS: Everything you need to know about Wednesday’s Apple eventApple had told US officials on Friday that proposed tariffs on almost all Chinese imports would affect prices for a wide range of products, including the Apple Watch.China-based Apple suppliers Luxshare Precision, Shenzhen Sunway Communication and Suzhou Dongshan Precision Manufacturing have all suffered this morning as a result – with share prices for all three dropping by 10 per cent.In Taiwan, camera lens manufacturer Largan Precision fell nearly eight per cent.Hong Kong-listed AAC Technologies, which supplies miniature electronic parts for Apple, such as speakers and interface technology, fell four per cent. Trump warned on Friday he was “ready to go” with a further $267bn in tariffs on Chinese goods, on top of a 25 per cent tariff hike on $200bn worth of products that could be imposed “very soon”.Following warnings from Apple that the tariffs could hit prices, Trump hit back and escalated the trade war between the world’s two biggest economies.Read more: China threatens to retaliate if Trump imposes fresh tariffsHe said: “Apple prices may increase because of the massive tariffs we may be imposing on China – but there is an easy solution where there would be zero tax, and indeed a tax incentive.“Make your products in the United States instead of China – start building new plants now.” Monday 10 September 2018 8:52 am whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute Workoutmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldmaternityweek.comStevie Wonder’s Wife Finally Reveals Why He Went Blindmaternityweek.comCrowdy FanCouple Who Waits 9 Years To Open Their Wedding Present Gets A Rude AwakeningCrowdy FanWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsBetterBe20 Stunning Female AthletesBetterBeCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverst read more

Intu considers UK-Saudi takeover offer

first_img whatsapp Jessica Clark Share Shopping centre chain Intu is considering a takeover offer from a consortium including British billionaire John Whittakar, Saudi investment group Olayan, and Brookfield Property Group.  Intu considers UK-Saudi takeover offer Friday 19 October 2018 8:59 amcenter_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Shares in Intu were up more than 14 per cent on the news that the company was mulling the offer to go private. Read more: Intu shares soar nearly 30 per cent on John Whittaker takeover rumoursThe consortium made an indicative proposal of 205p per share on 11 October, which was then revised to an offer of 215p per share. Intu owns some of the UK’s most well-known shopping centres, including the Trafford Centre in Manchester and the MetroCentre in Gateshead.Whittaker already owns a 27 per cent stake in the company through investment fund Peel Group, while Olayan has a 2.6 per cent stake.  Shares jumped nearly 30 per cent earlier this month after Whittaker’s plan was reported.Read more: Aldi and Lidl eat into Tesco and Sainsbury’s market share whatsapp Tags: Trading Archivelast_img read more

Citibank fined over $38m by US markets watchdog

first_img whatsapp Citibank has been fined more than $38m (£29m) by markets watchdog the US Securities and Exchange Commission (SEC) for abuse in handling American Depositary Receipts (ADRs) to brokers.The SEC’s investigation into the matter concluded that Citibank had provided US securities that represent foreign shares, or ADRs, to brokers in thousands of transactions prematurely, without informing brokers of how many foreign shares they needed to hold correspondingly. Emily Nicolle whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPuffer fish snaps a selfie with lucky divernypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com A statement from the watchdog said such practices had inflated the total number of a foreign issuer’s tradeable securities, which resulted in “abusive practices such as inappropriate short selling and dividend arbitrage that should not have been occurring”.It added Citibank had today agreed to pay the fine, without admitting or denying the investigation’s findings.It is the second fine against Citibank by the SEC in recent months, after the bank agreed to pay more than $10m in August to settle two enforcement actions against them involving its books and records, internal accounting controls, and trader supervision.“Our charges against Citibank are the latest in our ongoing investigative effort to hold accountable Wall Street institutions that participated in an industry-wide fraud,” said Sanjay Wadhwa, senior associate director of the SEC’s New York regional office.“Our investigation into these practices has revealed that banks and brokerage firms profited while ADR holders were unaware of how the market was being abused.”A Citigroup spokeswoman said today: “We are pleased to have this matter resolved.” center_img Wednesday 7 November 2018 9:23 pm Citibank fined over $38m by US markets watchdog by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMoney CougarLily From The AT&T Ads Is Causing A Stir For One ReasonMoney CougarMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It Love Share Tags: Trading Archivelast_img read more

DEBATE: Is there any point to the annual WEF summit in Davos?

first_imgTuesday 22 January 2019 8:04 am City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Opinion whatsapp Tags: Climate change People Theresa May Twitter DEBATE: Is there any point to the annual WEF summit in Davos? Is there any point to the annual WEF summit in Davos?Bill Michael, chairman and senior partner of KPMG in the UK, says YES.Elements of the World Economic Forum (WEF) do raise an eyebrow. From the setting in the Swiss Alps to the A-listers in attendance, it can seem like the last bastion of global elitism.center_img Yet, away from the headlines, the issues discussed at Davos are critical. This year delegates will consider the importance of mental health, the impact of artificial intelligence on jobs, and how to tackle climate change.As individual business leaders, we can try to address these problems in isolation, but they impact societies worldwide. This is where Davos can make a difference, bringing together leaders from government, society and business, enabling them to pool ideas and create new partnerships to drive solutions. It encourages collaboration, which is sorely needed in a time of political and economic nationalism.Davos may not appeal to all, but behind the “theatre” it remains a unique opportunity to achieve more in a week than can be achieved in a year.Our challenge this week is to make that happen. We need to turn talk into action to drive purposeful growth and create opportunity for more of society.Lauren McEvatt, managing director at Morpeth Consulting, says NO.Long before Theresa May’s “citizens of nowhere” catchphrase, Samuel P Huntington had hit upon a similar description for WEF summit attendees: “Davos Man”, an appropriate moniker since the number of female attendees has never passed 21 per cent. Bill Michael Michael and Lauren McEvattLauren McEvatt is managing director of Morpeth Consulting, and a former government adviser. Share Davos was designed to bring world leaders together with private sector magnates to solve global problems. Instead, every year it creates an image of an increasingly vilified elite frolicking in the snow like entitled dilettantes.This image hangs like a PR noose around the necks of world leaders whose citizens have been at the forefront of the austerity policies required after the crash of 2008.Pity the President of Zimbabwe, who announced on Twitter that, given the “unrest” (read: civilian deaths) at home, he has pulled his attendance. Ironically, this spin will be lost on the citizens of Zimbabwe, since his government has shut down the internet, raising the question of why he was invited at all.Davos is a better organised, allegedly philanthropic Fyre festival for influential boomers, with fondue instead of cheese slices. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapplast_img read more

The new Bank of England chief will have plenty to keep them busy

first_imgWhoever gets the job will have to steer Britain into a post-Brexit world and could well be confronted by a hard-left Labour government’s attempt to claw away at the Bank’s independence. Let’s hope the successful candidate is up for the fight.Tough to swallowTory MP Johnny Mercer is ruffling feathers. The former marine has been touring Conservative associations, promoting himself on social media and irritating whips whose job it is to cajole MPs into voting the right way.There’s a lot of hype around Mercer – not all of it justified – but he’s an interesting character and certainly isn’t afraid to challenge the party he represents. Reports emerged before Easter that his former comrades from the war in Afghanistan had been called up by Tory MPs looking for dirt on this rising star.This week he issued a furious statement in response to allegations that an organisation he works with (helping veterans into work) had financial links with the collapsed and scandal-hit firm London Capital & Finance.Mercer says the story is part of a “co-ordinated attempt” to smear him. Tory whips deny all knowledge of it and lawyers are involved. For Mercer it’s evidence that politics can be almost as brutal as the battlefield.Wining and dining in the City Share whatsapp There was a time when running the Bank of England was a family affair.The inaugural governor Sir John Houblon (1694-1697) was followed a few years later by his younger brother Abraham Houblon, who took charge of the Old Lady from 1703 to 1705. There have been 116 governors since Houblon Jnr, and all of them men. Little wonder that the formal announcement of Mark Carney’s departure has sparked a conversation about the merits of appointing the first female governor in the Bank’s history.Canadian Carney was the first non-Brit appointed to the role, breaking down something of a barrier – if not a glass ceiling. His tenure has been characterised by three things: post-crisis reform, a low-rate environment and Brexit. Taken together, chancellor Philip Hammond this week praised Carney’s “steady hand”.So is the time right for more active hands to take over? Two of the names in frame, Bank chief economist Andy Haldane and former governor of the Reserve Bank of India are both big thinkers and would represent something of a flamboyant choice.A more technocratic candidate could emerge from one of the Bank’s crop of current deputy governors. FCA head Andrew Bailey appears to be the frontrunner, and would surely be a perfectly sensible choice.But what of the potential for a bit of mould breaking? Rupert Harrison, former right-hand-man to chancellor George Osborne has tipped former Bank deputy governor Minouche Shafik and current Ofcom head Sharon White as “credible candidates.” Both are successful and impressive – and either would represent a clear changing of the guard. Christian May The new Bank of England chief will have plenty to keep them busy center_img In response to a veritable flood of emails asking for my advice on the City’s best lunch spots (no fewer than three of you have asked in recent weeks), I’m pleased to share my top tips for a thoroughly enjoyable meal.Start in the heart of the City with One Lombard Street, a 20-year-old institution serving fast, classic food and offering a heavyweight wine list.Its trendy younger cousin, Ekte, (both are owned by banker-turned-restauranter Soren Jessen) has opened in Bloomberg Arcade and brings a cool Nordic breeze to the Square Mile’s streets.Behind the Bank of England sits M, offering by far the best meat in the City and another top-drawer wine list.Over the road from that is Le Relais de Venise which takes the decision out of your hands by serving only steak and frites. Tags: Bank of England Mark Carney People It puts one in mind of lunch on the slopes. A stone’s throw from there is Coya, a stunning Peruvian venture that encourages decadence and celebration. Not one to walk past.So, there you have it. Never let it be said I don’t respond to emails. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyMisterStoryWoman files for divorce after seeing this photoMisterStory Friday 26 April 2019 12:10 am whatsapplast_img read more