Inequality

April 10, 2018

Shifting sands of scientific progress

The economic, commercial and geo-political status of nations is derived from their scientific and technological prowess. A new report charts how this balance of power…

February 12, 2018

Chief-Exec series: Lifting the lid on UK productivity

Here is a chart that reveals a UK economy in the doldrums and shows where it could be heading. John Egan decribes the challenges this…

January 25, 2018

Opération Séduction: a week in the life of the President

Emmanuel Macron continues to surf the wave that swept him to power in the French presidential election in 2017. John Egan reviews a week in…

December 27, 2017

Delivering economic salvation

Murray Ritchie poses the question: With the emergence of Cyril Ramaphosa as president-in-waiting of South Africa can the so-called economic powerhouse of Africa finally live…

October 20, 2017

A future that leaves equality behind

Times are a changing for education, health, employment and income. John Egan reports on the findings of the OECD on emerging inequalities. For a young…

May 30, 2017

Globalisation: the fightback for a fairer world begins

International trade has led to an equally global backlash from citizens of advanced economies against the economic deprivation to which they feel exposed, John Egan…

January 27, 2017

Four charts, two scenarios and a dilemma

UK Prime Minister Theresa May could find herself on the horns of a dilemma She has a problem. To quell the unrest that led to…

December 7, 2016

Political conversation needs the voice of reason

In the raging debate about the “crisis” gripping Western democracies, one set of voices has been noticeably silent. What might be best termed as the…

October 19, 2016

Passing the silver baton

One reason that Capital in the 21st Century has become a best seller is that it deals with issues of real significance for “baby boomers”…

September 28, 2016

A new deal for the rich

What factors govern the distribution of wealth between individuals in today’s modern societies? In the first part of our chief-exec.com digest of the French economist,…

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May appeals to EU to keep Brexit door open
Theresa May will urge EU leaders in Brussels on Wednesday to keep the door open to continuing Brexit negotiations, after a two and a half hour cabinet meeting that underscored the challenge of bridging the gap between London and Brussels in the days ahead. May told her colleagues on Tuesday: “If we as a government stand together and stand firm, we can achieve this”. But a string of ministers intervened to stress the importance of time-limiting the Irish backstop and ensuring it did not separate Northern Ireland from the rest of the UK – both areas where the UK and the EU27 remain at loggerheads. The attorney general, Geoffrey Cox, said any Northern Ireland-only arrangements for customs after Brexit could mean the province was “torn out of the UK” and leave it “controlled by the EU,” according to one source. The Guardian, October 17

We’ll need longer Brexit transition to make free-trade deal, says Liam Fox
Theresa May is being urged to consider extending the Brexit transition period to get through an impasse with Brussels, The Times has learnt. Liam Fox, the trade secretary, suggested yesterday that Britain may end up staying in transition for a “few more months” beyond the end of December 2020, according to a source. The 19-month transition period starts after March 29 next year and maintains existing ties with the EU without representation in the European Commission or parliament. The Times, October 17

‘Expectations low’ as PM heads to Brussels
Theresa May will urge other EU leaders to give ground on the issue of the Irish border when she addresses them at a summit in Brussels later. Brexit talks are deadlocked over the border, but the EU says it’s up to the UK to bring new ideas to the table. BBC political correspondent Iain Watson says Mrs May will try to strike an upbeat tone about the significant progress that’s been made. But he says expectations of any sort of breakthrough at the meeting are low. BBC news, October 17

US plans trade deals with Japan, UK, EU
The US has said it intends to negotiate three separate trade agreements with Japan, the UK and the EU. It could take several months before the negotiations begin, it said. The move is part of US President Donald Trump’s efforts to reshape trade policies to support his “America First” agenda. It comes as the US has been fighting a trade war with China, the world’s second largest economy. “We will continue to expand US trade and investment by negotiating trade agreements with Japan, the EU and the United Kingdom,” US trade representative Robert Lighthizer said. BBC news, October 17

Canada legalises sale and use of cannabis
Canada has become the second country after Uruguay to legalise possession and use of recreational cannabis. The nationwide market for cannabis opened on Wednesday at midnight amid lingering questions about the impact on health, the law and public safety. Information has been sent to 15m households about the new laws and public awareness campaigns. But there remain concerns, including about the readiness for police forces to tackle drug impaired driving. BBC news, October 17

Murdoch children in line for $2bn each on media empire break-up
Rupert Murdoch’s six children are each in line to receive $2bn from the break-up of his media empire and the sale of his entertainment businesses to Walt Disney, said multiple people briefed on the matter. The figure comprises of the 17 per cent interest in 21st Century Fox held by the Murdoch Family Trust, which is worth $12bn at the $38 a share Disney has agreed to pay. Disney’s offer for businesses that include the Fox movie studio and portfolio of cable channels and Star of India is worth $71.3bn. The six direct beneficiaries of the trust are Mr Murdoch’s adult children, Prudence, James, Lachlan and Elisabeth. His daughters with ex-wife Wendi Deng Murdoch, Grace and Chloe, are also beneficiaries of the trust but do not have any voting interest in it. Financial Times, October 17

City of London declares war on pollution
The City of London on Wednesday declared war on air pollution as it launched plans to turn parts of the Square Mile into a zero-emissions zone by 2022 and cut the speed limit to 15mph. Chris Hayward, chairman of the planning and transportation committee of the City of London Corporation, the Square Mile’s local authority, said: “Air quality is probably one of the most important political priorities today. We’re at war with air pollution. We want radical solutions to this and we want them fast.” The corporation intends to introduce interim zero-emission zones covering the east of the City and the Barbican area by 2022, and will lobby the mayor’s office to create a wider zero-emission zone across central London. The Square Mile aims to reduce motor traffic by a quarter by 2030 and by half by 2044. Financial Times, October 17

Netflix soars on record subscriber total
Netflix added seven million new customers in the three months to September, bringing its global total to over 137 million. The stronger than expected growth – a record for the third quarter – sent shares up 11 per cent in after-hours trading. The surge came as Netflix premiered a record amount of original programming, including new seasons of Orange Is The New Black and BoJack Horseman. Netflix is among the first of the major US tech firms to report its results. BBC news, October 17

Barnier open to extending Brexit transition
Michel Barnier has said he is open to the possibility of a one-year extension to Britain’s Brexit transition in return for Theresa May accepting a “two-tier” backstop to avoid a border in Northern Ireland, according to EU diplomats. On the eve of a Brexit summit in Brussels on Wednesday night, the EU’s chief Brexit negotiator told ministers from the 27 member states that Brussels was ready to propose fresh ideas to reach a deal by next month. The plan, informally suggested to the UK in talks last week, involves including a one-year extension clause for the 21-month transition period, which ends in December 2020. This would grant more time to agree a new UK-EU trade relationship and avoid special arrangements for Northern Ireland. Financial Times, October 16