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Posts Tagged ‘Britain’

Theresa May v Britain’s managers

Posted by hkarner - 2. September 2017

Date: 31-08-2017
Source: The Economist: Bagehot

The country’s problem is not that it has too many fat cats but that it has too few good bosses

IN HER barnstorming speech to announce her candidacy for the leadership of the Conservative Party, delivered in Birmingham on July 11th 2016, Theresa May promised nothing less than to fix capitalism. The gap between workers’ and bosses’ pay was “irrational, unhealthy and growing”, she said. Managers were rigging the system so that they were unaccountable to all but themselves and their doppelgängers. British productivity was dismal. Mrs May said she had heard, in the Brexit vote, a cry for reform. She invoked a long line of Tory leaders, from Robert Peel to Margaret Thatcher, who had taken on the powerful in the name of the people, and suggested that she was considering radical measures, from putting workers on boards to tightening takeover rules.

Thirteen tumultuous months later Mrs May has finally got around to addressing Britain’s “irrational” and “unhealthy” pay gap. Listed companies will publish the ratio of bosses’ pay to average workers’ pay, the government declares. Remuneration committees will consider the wages of ordinary workers when they set executives’ salaries. Companies will have to nominate a director for the workforce or create an employees’ advisory council. Firms that suffer a shareholder rebellion of more than 20% when setting executives’ pay will have their names entered in a shaming public register. Den Rest des Beitrags lesen »

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U.K. Government Overhauls Corporate Governance as Country Prepares to Leave EU

Posted by hkarner - 31. August 2017

Date: 30-08-2017
Source: The Wall Street Journal

Guidelines aim strengthening the country’s reputation as a leader in corporate governance

U.K. Business Secretary Greg Clark said reforms will ensure the country’s  largest companies are more transparent and accountable to their employees and shareholders.

The U.K. government Tuesday launched guidelines on executive pay and worker representation aimed at strengthening the country’s reputation as a leader in corporate governance as it moves to leave the European Union.

Around 900 listed companies for the first time have to publish annual pay ratios between chief executive and their average U.K. worker, according to a set of reforms published by the Department for Business, Energy and Industrial Strategy. Den Rest des Beitrags lesen »

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Britain is slowly moving towards accepting harsh truths about Brexit

Posted by hkarner - 19. August 2017

Date: 17-08-2017
Source: The Economist

In this week’s papers on customs arrangements and Ireland, Theresa May’s government begins to accept some inconvenient truths

FOR months, as the clock has ticked towards a two-year deadline for Britain to leave the European Union in March 2019, Theresa May’s government has been criticised for being ill-prepared, divided and unrealistic in its approach to Brexit. And rightly so. However, this week it took a belated step towards reality in the first two of a series of Brexit papers, on future customs arrangements and on Northern Ireland. It accepted explicitly, for the first time, that a temporary transition, or interim period, will be necessary to avert a damaging cliff-edge exit in March 2019, and that in this interim period Britain should be in a customs union with the EU.

That is a big step forward. It is all the more surprising, because it came just days after Philip Hammond, the chancellor, and Liam Fox, the trade secretary, promised in a newspaper article that, even in an interim period, Britain would be out of the EU’s single market and customs union. The official Brexit paper acknowledges that this may happen eventually, and offers ideas for a new customs regime that, although burdensome and quite possibly impractical, at least tries to minimise the costs to traders (see article). Den Rest des Beitrags lesen »

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Nearly three-quarters of Britons think their country is on the wrong track.

Posted by hkarner - 18. August 2017

Date: 17-08-2017
Source: The Economist
Subject: Britons mellow on migration

Health, terrorism and poverty replace migration as the public’s main worries

A year after they plumped for Brexit and two months after they voted to take away the government’s majority, nearly three-quarters of Britons think their country is on the wrong track. That is the most in nearly five years, and the eighth-highest of 26 countries surveyed by Ipsos, a polling firm.

Health care and terrorism are Britons’ main worries, along with poverty. Concern over immigration—the biggest beef of 2016, and a powerful driver of the vote to “take back control” from the EU—has halved.

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Britain’s Road to Perdition

Posted by hkarner - 16. August 2017

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Britain’s Unreal Brexit Transition Debate

Posted by hkarner - 4. August 2017

Date: 03-08-2017
Source: The Wall Street Journal By Simon Nixon

Theresa May and her party will have a hard time negotiating with the EU when they can’t figure out precisely what they want

British Prime Minister Theresa May has talked about a wide range of possibilities for the U.K.’s future relationship with the European Union.

There is an air of unreality about the debate that has been raging this summer over a Brexit transition deal. The mere fact that this debate is taking place at all is unreal. It was never remotely plausible that the U.K. and European Union could negotiate and ratify both a divorce agreement and a new free-trade deal in the two years allowed under the Article 50 timetable, let alone the 21 months remaining after Prime Minister Theresa May squandered the first three months on a snap general election.

So the fact that it has taken until now for the cabinet to accept that a transitional deal will be essential—even if official government policy is still that a new Brexit trade deal can be agreed by March 2019—is alarming. Den Rest des Beitrags lesen »

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Explaining Global Recovery Amid Political Recession

Posted by hkarner - 2. August 2017

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Brexodus? :Britain’s car industry gets a Mini boost but faces major problems

Posted by hkarner - 29. Juli 2017

Date: 27-07-2017
Source: The Economist

BMW announces a welcome investment. But the road ahead looks bumpy

BRITAIN’S car industry has been running at high revs. Over 1.7m vehicles rolled off production lines last year, the most since 1999. If growth continued at recent rates, the all-time record of 1.9m, set in 1972, would be broken within a couple of years. On July 25th BMW, which owns the Mini brand, announced that it would build an all-electric model of the compact car in Oxford from 2019, rather than making it in the Netherlands, as it had threatened in the wake of the Brexit referendum.

Yet the mood among British carmakers is a mixture of nervousness and gloom. In spite of BMW’s announcement, few feel reassured about the long-term future of the industry. Indeed, some fear that last year’s vote to leave the European Union could run them off the road. Den Rest des Beitrags lesen »

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A Cross-Party Way Forward on Brexit

Posted by hkarner - 26. Juli 2017

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Britain En Marche ?

Posted by hkarner - 25. Juli 2017

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