David Cameron announces creation of London’s first digital skills hub in 2015 December 8, 2014 David Cameron has announced the creation of the UK's first digital skills hub, as part of a government drive to boost the take-up of maths, science and technology subjects. The National College for Digital Skills, opening in London next year, will equip students with the technological skills needed to "compete in the global economy". It aims [...]
Tax-cutting guru Arthur Laffer delivers stinging verdict on Thomas Piketty’s Capital in the 21st Century December 8, 2014 While the initial excitement surrounding Thomas Piketty's treatise Capital in the 21st Century may have subsided, its impact endures – and now one of the most renowned free-market economists has sought to reignite the debate. After receiving a wave of adulation, the book came under withering assault for its use of statistics, data and methodology. [...]
JP Morgan chief executive Jamie Dimon is “clear of cancer” December 5, 2014 JP Morgan boss Jame Dimon has told employees he is clear of throat cancer. In an internal memo sent to staff, the 58-year-old boss of the US' largest bank said there was "no evidence of cancer left in my body" after CAT and PET scans three months after treatment. The good news is that the [...]
Eurozone GDP sluggish again as pressure builds on Draghi December 5, 2014 If Mario Draghi and the European Central Bank (ECB) left investors frustrated by failing to hint at plans for quantitative easing yesterday, that frustration will only grow as the latest Eurozone GDP figures, published today, again revealed the weakness in the single market. GDP growth for the third quarter was again weak, with quarterly growth [...]
Exclusive: Ukip to hold spring conference in Nigel Farage’s target seat, Margate December 4, 2014 Ukip will hold its spring conference in Margate’s winter gardens next February, its economics spokesman told City PM yesterday. He added that Ukip had built “the strongest team in years” to fight the election and aimed to beat the Lib Dems on vote share. The location of the conference, so close to the seat Ukip [...]
FTSE drops over Draghi’s lack of stimulus news – London Report December 4, 2014 BRITAIN’S top equity index fell yesterday largely due to a drop in commodity stocks and disappointment at a lack of concrete, new economic stimulus measures from the European Central Bank (ECB). The blue chip FTSE 100 index closed down by 0.6 per cent, or 37.26 points, at 6,679.37 points. The ECB slashed its growth and [...]
Autumn Statement 2014: George Osborne’s stamp duty reform is a smack in the face for London – and hard-working strivers December 4, 2014 Midnight, 3 December 2014 is a date to celebrate for UK home buyers. Anyone purchasing a property worth less than £937,500 is now paying less tax. The chancellor’s move to scrap the invidious slab-style stamp duty land tax (SDLT) regime, introduced by Labour in 2000, and to transform it into a graduated tax, is a [...]
As the ECB “steps up” stimulus plans, will it do enough to prevent a Eurozone recession? December 4, 2014 Azad Zangana, European economist at Schroders, says Yes. The 2015 outlook for the Eurozone is precarious. Governments are continuing with austerity, while business surveys suggest a downturn is on the horizon. Markets are demanding the European Central Bank (ECB) adds QE to the measures already being used. Despite German resistance, president Mario Draghi has stated [...]
Boris Johnson launches £85m fund to lift London’s tech start-ups December 4, 2014 The Mayor of London has launched an investment fund which will make up to £85m available to the capital's most exciting science, technology and digital start-ups. Boris Johnson has pledged an initial £25m towards the London Co-Investment Fund, which will help new businesses looking for a cash injection between £250,000 and £1m. The fund, which hopes [...]
ECB cuts European growth forecasts December 4, 2014 The European Central Bank (ECB) has slashed its forecasts for European growth, saying it now expects GDP in the region to rise by just one per cent next year, down from 1.6 per cent. It also cut forecasts for this year to 0.8 per cent, from 0.9 per cent, while growth in 2016 will hit [...]
