No Brexit effect on their business say UK managers – but watch out for the broader economy

Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndoGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal PastUndo Read more: Resilient British consumers grow more confident but economy worries remainIn the face of uncertainty, almost three-quarters of managers surveyed think Brexit makes skills investment more important, with 47 per cent fully supporting the apprenticeship levy which will come into operation in April.The stagnation in productivity has led to fears since well before the referendum that Britain is falling behind other developed nations. Investment in skills is understood to boost productivity in the long term.Ann Francke, CMI chief executive, said: “Although it’s clear that there are significant challenges posed by the UK’s decision to Brexit, as a country we need to move forward and harness pragmatic positivity.“UK business will play a vital role in making this a success. In 2017 we have an opportunity to stand together and tackle longstanding issues like the productivity gap,” she added. whatsapp No Brexit effect on their business say UK managers – but watch out for the broader economy whatsapp Wednesday 28 December 2016 1:15 pm Jasper Jolly British managers are confident about their prospects for the next year, but think Brexit is going to dent the UK economy over the course of 2017, according to a poll.More than half of managers think their own business has a positive outlook for the next year, compared to only a quarter who think they will be negatively affected in the next 12 months, according to the survey of over 1,000 UK managers by the Chartered Management Institute (CMI). Share However, two-thirds of managers think uncertainty as the UK negotiates its exit from the EU will harm the economy over the course of the next year, while 49 per cent think Brexit will have a long-term impact on the economy.Read more: Editor’s notes: Brexit has damaged economists, not the economyThe findings reflect similar survey findings which have tended in recent months to find businesses confident in their own prospects, but foreseeing broader economic dangers.Economic data has remained mostly positive since the EU referendum, defying predictions of an immediate recession if the UK voted to leave. However, the process of leaving the EU – starting with the invocation of Article 50, triggering a two-year deadline – is expected to have a significant impact on business confidence.Businesses have been clamouring for clarity as to what they can expect from the government’s negotiations, with the Prime Minister Theresa May proposing a transitional deal to ensure UK industry does not fall off a “cliff edge”. read more

Stop expecting central bankers to grow the economy: They can’t

whatsapp John Phelan Phelan Is this era now coming to a close? At the Conservative Party conference in October, Prime Minister Theresa May attacked the distributional consequences of QE and floated a more active fiscal policy. The OECD’s 2016 November Economic Outlook contained a chapter on “Using the fiscal levers to escape the low-growth trap”. Steven Mnuchin, President Trump’s pick for Treasury secretary, told Fox Business recently that “the problem for the last eight years, there’s been no economic growth” and promised a shift to fiscal policy with the “largest tax cut since Reagan”.Mnuchin is right to say that economic growth has been poor in recent years when compared to previous recoveries. But it is unfair to blame monetary policy-makers entirely for this. With the tools at their disposal they are simply unable to generate high levels of real GDP growth.Read more: PwC sounds alarm over sluggish economic recoveryA central bank has three tools. First, control of the size of the supply of base money; second, control of the price at which this base money is borrowed (the base rate); third, setting limits on the amount of broad money which can be pyramided out from this base money (reserve ratios).Each of these has been a primary policy tool at some time in the past. None of them, however, is “economic growth”. When monetary policy-makers have been tasked with boosting such growth, they have had to do so using instruments which affect it only indirectly. Stop expecting central bankers to grow the economy: They can’t More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comWhy people are finding dryer sheets in their mailboxesnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPuffer fish snaps a selfie with lucky divernypost.com Thursday 2 February 2017 4:59 am Under QE, central banks printed up new base money and handed it over to financial institutions in exchange for assets. It was thought that these financial institutions would take this new cash and use it to make loans to support investment spending, generating growth. Also, by buying up longer term dated assets, monetary authorities could push their price up, their yield/interest rate down, and stimulate investment by making it more profitable.Read more: After strong July retail sales, did the Bank jump the gun by cutting rates?But whether QE does boost growth is largely out of the monetary authority’s hands. Financial institutions – especially under regulatory pressure such as Basel III – may just take that cash and use it to shore up their balance sheets. Even if they try to lend, they might be unable to find willing borrowers. Richard Koo argued that this was the reason for QE’s failure to boost GDP growth in Japan. Likewise, even if QE forces down long-term interest rates, investors could be so pessimistic about potential returns that it still doesn’t pay for them to invest.That has been the case since 2008. As a result, QE has generated little if any economic growth and has simply recapitalised battered banks. Indeed, for all the talk about stimulating growth, this might have been the purpose all along.Much the same goes for low base rates. If the central bank reduces the price of liquidity by lowering rates, it should incentivise financial institutions to expand their balance sheets by lending. So what can monetary authorities do? Ordinarily, they can facilitate economic calculation by adhering to a predictable rules-based policy. In extremis, they can throw a mattress of liquidity under a collapsing financial system. Indeed, their failure to do so is what Milton Friedman and Anna J Schwartz argued exacerbated the Great Depression. When Ben Bernanke said to Friedman and Schwartz in 2002, “Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again”, that is what he meant.But the goal of growing GDP is beyond them. In 2008 monetary policy-makers took up a task which they were unequipped to accomplish. If politicians and pundits had been more willing to ask what monetary policy-makers could do rather than focusing on what they should do, the age of activist monetary policy might not have been quite so disappointing. In 2008, monetary authorities around the world embarked on an unprecedented series of experiments.As economies tanked and governments throttled back on fiscal measures in the face of huge debts and deficits, people looked to central bankers to use monetary policy to stimulate economic growth. Since then we have seen a range of once outlandish tools deployed, from historically low policy rates to quantitative easing. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoWarped 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 HealthUndoWolf & ShepherdNFL Star Rob Gronkowski’s Favorite ShoesWolf & ShepherdUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoDental Implant Info | Search AdsDental Implant Costs In 2021 Might Almost Be UnbelievableDental Implant Info | Search AdsUndo But again, if financial institutions are primarily concerned with fixing their balance sheets, the effort to get them to expand those balance sheets will be in vain. Likewise, if potential borrowers are looking to deleverage, then the attempt to get them to take on more debt will flounder. As JK Galbraith put it, monetary policy is like a string. You can pull it but you can’t push it; sufficiently high policy rates will drain credit from a financial system, but low rates are not guaranteed to flood it with credit.Read more: Does ultra-loose monetary policy work? Treasury Committee to hold inquiryEven if there had been willing intermediaries in the financial sector and eager borrowers in the private sector, it is still not clear that expansive monetary policy could have driven higher real GDP growth. A monetary expansion will simply produce inflation unless there is spare capacity or “slack” in the economy. While that might have been the case in Britain between 2008 and 2013, when unemployment was around 8 per cent, it is unlikely to be the case now with the rate down to 4.8 per cent.There could be more scope for success in the US, whose unemployment figures are notoriously optimistic, and the Eurozone, where many countries still have double digit rates. But there is more to consider than just the raw rates. If the cost of hiring unemployed workers is too high, they won’t be hired. These supply-side considerations loom larger now in the US, thanks to the regulatory thicket of Obamacare, and the Eurozone, where labour regulations make it difficult to hire even where unemployment is over 20 per cent. Slack will stay slack if regulations block you from taking it up.Read more: The chancellor should ignore siren calls for more fiscal stimulus Share whatsapp read more

Military to get £1bn more over next two years to fund cyber and nuclear capability

first_img Share Hammond told the House of Commons that the money would be used to boost the UK’s cyber capabilities, its anti-submarine warfare capacity and its submarine-borne nuclear deterrent.“As a former defence secretary myself, I understand the immediate pressures our armed forces are facing,” he said. Hammond said the money is designed “to boost our cyber capabilities and our anti-submarine warfare capacity, and to maintain the pace of the Dreadnought programme to ensure continuous-at-sea-deterrence”. whatsapp Military to get £1bn more over next two years to fund cyber and nuclear capability Tags: People Philip Hammond James Booth Monday 29 October 2018 4:06 pmcenter_img The Dreadnought programme is the future replacement for the Vanguard-class of submarines that carry the UK’s nuclear weapons.Hammond said the defence secretary Gavin Williamson is currently carrying out a defence review. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoBetterBe20 Stunning Female AthletesBetterBeUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBridesBlushWhat The Harry Potter Stars Look Like Out Of CostumeBridesBlushUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndozenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comUndo More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org The UK’s military is to receive £1bn more over the next two years to help plug funding shortfalls, the chancellor Philip Hammond said in his budget speech today.last_img read more

The government is finally turning its attention to the housing crisis, but what’s missing?

first_img The government is finally turning its attention to the housing crisis, but what’s missing? There’s no question that the housing market is in need of drastic reform.So it was welcome news last week when the chancellor announced that the government was turning its attention to reforming the supply side of the market through a £500m Housing Infrastructure Fund and British Business Bank guarantees for SME house builders. Financial services is also in need of reform if we are to encourage more young people to save to buy their own homes, and the government should start by simplifying Isa rules.Under the current system, individuals have to choose one provider for their annual stocks and shares Isa, which hugely favours incumbent players and puts little downward competitive pressure on their fees, which remain too high.Given the proliferation of new platforms looking to bring new options for investment to the masses, it’s now time to make it easier for normal people to spread their Isa investments across platforms.It’s simply a question of HMRC’s reporting systems: self-invested personal pension investors have long been able to have multiple, concurrent wrappers in their names.Rather than introducing new, increasingly complex types of Isa, it’s time for the government to improve what they already have. 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. whatsapp Thursday 8 November 2018 3:20 pm Opinion However, there was some good news for tenants that was not mentioned in the Budget. The government has since announced that private landlords will not be able to put properties onto the market with the two lowest Energy Performance Certificate (EPC) ratings.The changes are expected to save renters living in 290,000 properties (around six per cent of the market) an average of £180 a year. This is very big news for tenants living in cold, damp, expensive to heat homes.On the fiscal side it’s a shame that stamp duty remains largely unreformed, despite the announcement of its abolition for first-time buyers of shared ownership homes.Regardless of your age, stamp duty is a tax that prevents housing mobility, and is particularly penalising towards growing families and those wanting to downsize. It’s also a tax on social mobility, discouraging relocation in pursuit of better paid jobs.Political posturing on foreign property owners is not a substitute for action here, particularly in the South East and London where even small properties attract large tax bills. 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 HeraldMoneyPailShe 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 WorldNoteableymoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comInteresticleMan Finds Wierd Cave In Scottsdale, Enters And Drops To His KneesInteresticlecenter_img In broader terms, there seems to be an increased focus on making it easier for diverse groups to gain approval for finance, as well as building new housing. But these were far from root and branch reforms and, as is always the case with supply-side measures, we will have to wait longer than desirable to assess their impact.We were surprised that the government didn’t move on guaranteeing three-year tenancies, not just because of the growing number of renters, but because of the housing minister’s announcement in July of plans along these lines.The idea that the government should intervene in the private rental market is controversial, but there’s no doubt that lease reform could provide tenants with increased security of tenure and protection from arbitrary midterm rent increases.We continue to see evidence ourselves that more stable tenancies are actually better for landlords – reducing voids, and wear and tear.The trajectory towards greater security for tenants and more overheads for landlords is clear, and this certainly looks like a strong Conservative policy candidate, should they have the political will to proceed. whatsapp Share Simon Heawood More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comPuffer fish snaps a selfie with lucky divernypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tags: Social mobility Taxlast_img read more

DEBATE: A new review recommends cutting university fees to £7,500 a year – is this a good idea?

first_img Matteo Bergamini and Joanna WilliamsJoanna Williams is director of the think tank Cieo DEBATE: A new review recommends cutting university fees to £7,500 a year – is this a good idea? whatsapp Share Opinion A new review recommends cutting university fees to £7,500 a year – is this a good idea?Matteo Bergamini, founder and director of Shout Out UK, says YES.Lowering tuition fees makes training for your future a little more affordable and provides better value for money. The current £9,000 fees act as a deterrent for the poorest in our society. 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. Tags: Trading Archive More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.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.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.orgColin Kaepernick to publish book on abolishing the policethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org If you look across Europe at some of the countries with the best, most accessible higher education systems, you start to notice a trend.Studying in Germany is free, studying in France is free or low-cost, and studying in any Nordic country is free too. Indeed, the UK is by far one of the most expensive countries for higher education in Europe, able to charge such rates purely due to the myth that we have one of the best university sectors in the world – a myth that is dying a slow death.We need to see education as a collective investment in our future, not as a cost to be cut or passed onto young people. I welcome this proposal, and the recommendation to replace the reduction in fees by direct funding to universities from the government.Read more: Our broken university system is setting future Britain up to failDr Joanna Williams, head of education at Policy Exchange, says NO.Cutting tuition fees might win student votes, but it will leave few graduates better off. Monthly repayments, which depend on earnings, will remain exactly the same as they are now. High-earners will see their repayments stop a few months earlier, but most people will not notice any difference. whatsapp Nor is reducing fees likely to widen participation in higher education. Almost all 18-year-olds with goodA-levels go to university, irrespective of their background.In Scotland, where students do not pay tuition fees at all, fewer working-class youngsters enter higher education than in the UK.Some universities are already feeling a financial squeeze. Without plans to make up the shortfall from a cut in fees, there will be less funding for higher education. Courses will be cut and staff-student ratios will increase.For the past two decades, we have obsessed over how much going to university should cost and who should pay. Meanwhile, more important questions about what higher education is for, who should go to university, and why, remain unasked. Wednesday 29 May 2019 7:41 am Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUndoDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemUndoPost FunThe Deadliest Snakes Ever Found On The PlanetPost FunUndolast_img read more

The UK and India: Moving forward together

first_imgTuesday 25 June 2019 3:54 am However, there is always more that can be done to fully embrace the opportunities of this relationship and build even greater bilateral collaboration. Tie-ups between India’s advanced manufacturing sector and the UK’s High Value Manufacturing Catapult programme could be enhanced to develop technology and skills, particularly focused on advanced materials and manufacturing.   Finally, there are a multitude of technology-driven areas where India and the UK could collaborate and put themselves at the forefront of the evolving fourth industrial revolution. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OraclePost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionMisterStoryWoman files for divorce after seeing this photoMisterStoryUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand Solar LONDON, ENGLAND – NOVEMBER 13: A woman holds her child waving an Indina flag as crowds begin to arrive at Wembley Stadium to hear Indian Prime Minister Narendra Modi speak during the second day of an official three day visit on November 13, 2015 in London, England. In his first trip to Britain as Prime Minister Modi’s visit will aim to develop economic ties between the two countries. In a busy schedule he will speak at Wembley Stadium, lunch with the Queen at Buckingham Palace, address Parliament and stay overnight at Chequers. (Photo by Rob Stothard/Getty Images) India and the UK have more than 200 years of shared history characterised by democratic traditions, connected cultural institutions, and the English language. Share Opinion And Indian industry stands ready to support the growth and progress of this relationship. Next, manufacturing. The Indian government has recently taken key steps to usher in transparent, accountable and efficient processes for attracting FDI in sectors like defence, automotive and pharmaceuticals manufacturing. This offers a range of compelling opportunities to British firms looking to invest in India’s manufacturing sector. Looking ahead, Indian businesses are optimistic about the UK’s economic future, which is reflected in the growing investment from Indian companies in the UK, particularly in the fast-growing tech and IT services sectors. Nor is it just about large established firms. With SMEs making an increasing contribution to the national GDP and trade basket of both India and the UK, the two countries should step up the bilateral SME trade and collaborations, particularly with regard to technology sharing and financing of business. Today, the UK and India are among the largest investors in each other’s economies. Britain stands as the fifth largest inward investor in India, ranking second among the G20 countries, and accounting for nearly six per cent of all inward investment into India between April 2000 and March 2019.   India and the UK also see great scope in undertaking joint research and development projects in cutting-edge fields such as advanced engineering. The bilateral industrial R&D programme could be further expanded to areas beyond energy and healthcare. Take trade, for example, especially in services. The UK is the world’s second largest exporter of services and India has the world’s second fastest growing services sector, with a compound annual growth rate of nine per cent. There is huge potential to increase bilateral trade in this area. In terms of specifics, a good place to start would be the financial and legal services sector. center_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com The UK and India: Moving forward together From the UK side, Indian companies make a huge contribution to the British economy. According to the 2019 edition of the CII Grant Thornton India Meets Britain Tracker, there are now a record 844 Indian companies operating in Britain, with combined revenues of over £48bn. Together, they paid almost £687m in corporation tax and employed 107,422 people. The UK has relatively low corporate tax rates, offers ease and speed of setting up a business, ensures a stable political and security environment, and promotes a strong R&D ecosystem. These benefits will all persist, irrespective of the Brexit negotiations or any changes in the government. Indian companies are helping UK companies grow and compete, boosting productivity, providing jobs, and offering skills development. Indian business is clear that Brexit will not change this deep and special partnership. Our investments in each other’s economies have grown over the years, and there is great potential for collaboration and excitement about the opportunities ahead. 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. This history is a strong foundation on which our bilateral trade and investment relations are continually nurtured and reinforced. London, as the world’s financial capital, is critically placed to help India raise the capital it needs to continue its impressive economic and infrastructural growth, and UK businesses have the expertise and ambition to meet the rising demand for financial services in India. Chandrajit BanerjeeChandrajit Banerjee is the director general of the Confederation of Indian Industry (CII). whatsapp whatsapp The Indian and UK governments have jointly identified the importance of the expansion of banking, accountancy, insurance and legal services in India, to both support the country’s economic growth, and facilitate competitive international trade. Today more than ever before, both the UK and India stand at a crossroads. This could be a pivotal moment – together, our countries can help redefine the contours of the partnership. last_img read more

Boris Johnson races against the clock to secure Brexit deal

first_imgEU and UK negotiators have entered the last day of Brexit negotiations hoping to secure a deal before a key summit tomorrow. The Prime Minister must convince Eurosceptics in his Conservative party and Northern Ireland’s DUP of the deal too in order to secure their votes. Share If he succeeds, EU leaders could pass the deal this week in time for the PM to put it before MPs in a special Saturday sitting of parliament. If the EU’s 27 member states look at the draft withdrawal agreement during the summit, the UK and EU must publish details of the deal and a legal text. Boris Johnson races against the clock to secure Brexit deal Prime Minister Boris Johnson is due to update the cabinet of the state of talks after they continued overnight. Joe Curtis LONDON, ENGLAND – OCTOBER 15: UK Prime Minister Boris Johnson waits to welcome NATO Secretary General Jens Stoltenberg to 10 Downing Street on October 15, 2019 in London, England. (Photo by Dan Kitwood/Getty Images) Read more: Negotiators burn the midnight oil as crunch EU summit looms Sterling surged yesterday on reports that a deal was on the verge of being agreed. Johnson is pushing for a last-minute withdrawal agreement with the EU ahead of the two-day summit starting tomorrow. Commons leader Jacob Rees-Mogg told LBC: “I think the votes are there now for a deal.” Meanwhile European Research Group chair Steve Baker appeared to offer the PM his support, saying he was optimistic of reaching a “tolerable” deal. Otherwise parliament’s Benn Act would force him to seek a Brexit delay to take the UK’s departure into 2020. whatsapp That would allow Johnson to keep his pledge of leaving the EU by 31 October. Yesterday the DUP said “further work is required” to win them over. whatsapp Wednesday 16 October 2019 7:52 am However, Johnson has been resolute that he will not ask for a delay. City A.M. has revealed the government may rely on the supremacy of EU law to secure a 31 October departure anyway. Downing Street said talks had been “constructive” but said there was “more work still to do” to get a Brexit deal over the line. Read more: Sterling surges against the dollar and euro amid renewed hope of Brexit deal Tags: Brexitlast_img read more

Fiat Chrysler-Peugeot merger: French shareholders look for board control

first_img The draft agreement gives both firms five seats on the board of the merged entity, while an eleventh would go to current PSA chief executive Carlos Tavares, who is expected to take on the same job in the new company. French shareholders see the arrangement as giving them the de-facto role of senior partners. Sunday 15 December 2019 4:21 pm Read more: What is behind Fiat Chrysler’s proposed mega-merger with Peugeot? by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndozenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamaUndoThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickUndo Fiat Chrysler-Peugeot merger: French shareholders look for board control A source close to FCA said the draft agreement over the new company’s governance structure is not being questioned. Both firms are confident they will reach a deal by the end of the year, but shareholders on the French side are reportedly looking to clarify before signing on the dotted line. The deal has been approved by the French government (AFP via Getty Images) Share They are looking for assurances that this advantage will remain even if Tavares heads for pastures new, sources told Reuters. The two firms are putting the finishing touches to a $50bn merger plan announced in October, that would create the fourth largest car maker in the world. PSA makes Peugeot and Citroen cars. It has called a meeting of its board for Tuesday, where directors are expected to discuss the deal.center_img Read more: Fiat Chrysler and Peugeot owner PSA have agreed a merger which could reshape the car industry There is no suggestion that the matter is an obstacle to the deal. whatsapp 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.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com French shareholders are looking for confirmation that they will keep a numerical advantage on the combined board of PSA and Fiat Chrysler if CEO Carlos Tavares leaves after the two companies merge. Alex Daniel whatsapp Shareholder advisory company Proxinvest said in a note that the French group’s shareholders were paying “an implicit control premium … while there was no real control of PSA on FCA”. Show Comments ▼ Tags: Automotive industrylast_img read more

Central banks running low on ammunition to fight recession, Mark Carney warns

first_img Show Comments ▼ “If there were to be a deeper downturn, [that requires] more stimulus than a conventional recession, then it’s not clear that monetary policy would have sufficient space.” Anna Menin In a wide-ranging interview, the central banker also reiterated his view that the UK should not align its financial regulations with the EU post-Brexit. “I don’t think that climate policy should be run by stealth though capital ratios or other use of prudential policy to shift incentives,” he said. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman files for divorce after seeing this photoMisterStoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comNinjaJournalistMichael Jordan’s Divorce Settlement Has Finally Been Revealed.NinjaJournalistPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factorybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.com More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org “It is not desirable at all to align our approaches, to tie our hands and to outsource regulation and effectively supervision of the world’s leading complex financial system to another jurisdiction,” Carney told the FT. Mark Carney will step down as BoE governor in March (image: Getty) Read more: Mark Carney appointed UN climate envoy ahead of Bank of England exit Read more: Andrew Bailey: Three issues the new Bank of England chief will have to tackle Financial Conduct Authority head Andrew Bailey is due to take over from Carney as BoE governor in March. Carney will take up a role as a special United Nations envoy for climate action and finance. Central banks may not be able to fight off a sharp economic downturn because their monetary policy arsenals are still depleted following the global financial crisis, outgoing Bank of England Governor Mark Carney has warned.center_img He also predicted that the City could benefit from financing the transition to a low-carbon economy in place of some EU activity once Britain leaves the bloc. Central banks running low on ammunition to fight recession, Mark Carney warns “This happens to be a huge commercial opportunity for the City of London and the UK financial sector writ large.” However Carney said that the financial sector could not combat climate change alone, adding: “I don’t think the financial sector should be or will be a substitute for climate policy.” whatsapp Wednesday 8 January 2020 9:11 am “It’s generally true that there’s much less ammunition for all the major central banks than they previously had and I’m of the opinion that this situation will persist for some time,” Carney said in an interview with the Financial Times. The BoE has raised interest rates to 0.75 per cent – slightly above their emergency levels during the global financial crisis a decade ago. whatsapp Carney – who has just over two months left in office – has previously raised concerns about the risk of a “liquidity trap”, in which central banks run out of the ammunition needed to combat a downturn because demand is so weak.  Share Tags: Bank of England Mark Carneylast_img read more

City Moves for 31 January – Who’s switching jobs at BMO, Square Mile and IAG?

first_imgBMO Friday 31 January 2020 7:00 am whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoFactablePut Baking Soda Around The Base Of A Tomato Plant, Here’s WhyFactableUndozenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comUndoFinancialAdvisorHeroesSean Hannity New Girlfriend Might Look Familiar To YouFinancialAdvisorHeroesUndoCar NovelsRare Photos Of Diana – No. 9 Will Surprise YouCar NovelsUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndo City MovesSend your appointments to [email protected] City Moves for 31 January – Who’s switching jobs at BMO, Square Mile and IAG? Today’s City Moves includes BMO, Square Mile and IAG IAG Show Comments ▼center_img Square Mile whatsapp BMO Global Asset Management (BMO GAM) has announcef the appointment of Nora O’Mahony as head of product for Europe, the Middle East and Africa (EMEA). Nora, who will be based in London, joins with a wealth of experience, having worked for Fidante Partners, Citi and GAM, where she was head of global product and fund development. In her role, Nora will look to build on BMO GAM’s best in class solutions in EMEA. Kristi Mitchem, CEO of BMO Global Asset Management, commented: “With Nora’s appointment, BMO GAM is ideally positioned to build on it best in class product offering in EMEA. We look forward to announcing future product innovations and solutions that help our clients meet the challenges they face.” Share Investment consulting and research firm Square Mile has confirmed two new board appointment of Steve Kenny as executive director. Steve joined Square Mile in April 2019 as commercial director and is responsible for distribution as well as helping to set the overall strategy for the growth of the business. Richard Romer-Lee, Square Mile’s managing director, said: “We are very excited to welcome Steve to Square Mile. [He is] highly regarded in the industry and [has] considerable expertise and experience. [He] bring s with [him] exceptional insight, energy and a commitment to delivering the continued growth of the business.” International Airlines Group (IAG) has announced that Javier Sanchez-Prieto, currently Vueling chairman and chief executive, has been appointed chairman and chief executive of Iberia. Marco Sansavini, currently Iberia chief commercial officer, has been appointed chairman and chief executive of Vueling. Both Javier and Marco will take up their new roles in late March when IAG’s chief executive Willie Walsh stands down to be replaced by Luis Gallego, currently Iberia chairman and chief executive. Willie Walsh said: “I’d like to congratulate Javier and Marco on their new roles and am absolutely confident that they are the right people to lead Iberia and Vueling. Both have worked in the Group for several years and have fantastic track records, proving once again that we have extremely talented people internally that we are able to promote to our top jobs.” Javier has led Vueling for the past three years. He was previously strategic planning and finance director at Iberia between 2013 and 2016 where he was instrumental in achieving the airline’s financial turnaround. Marco has been Iberia’s chief commercial officer for seven years where he has led the airline’s commercial and brand transformation.last_img read more