Minister reassures MPs: Green Investment Bank will not be sold to an asset stripper

Share He added: “We’ve run a competitive process, we’ve received a proposal from a preferred bidder which we are now evaluating against those criteria, and no decision has yet been taken.”Read more: Macquarie’s rival on what it would do with the Green Investment BankGreen MP Caroline Lucas, who has led the parliamentary campaign against the GIB being sold to Macquarie, spoke out in favour of a rival bid from Sustainable Development Capital and a possible initial public offering (IPO).Macquarie has so far declined to comment on the GIB sell-off, but has pointed to its green credentials: “Macquarie is the world’s largest infrastructure asset manager, with over £78bn of assets under management. We currently have over £10bn to invest into new infrastructure opportunities, including renewable energy projects.” The criticism came after it was reported that the Australian investment bank is planning to strip the GIB of its prized assets. Read more: The Green Investment Bank’s stalled sale risks red facesHurd was quizzed about the sale before a cross-party selection of MPs in Westminster Hall today.He reiterated that the government is not able to confirm the identity of the preferred bidder, but said no final decision has been made.Challenged on the chances of prized parts of the bank being sold off, Hurd said “no one has an interest in selling to an asset stripper”. whatsapp Minister reassures MPs: Green Investment Bank will not be sold to an asset stripper William Turvill More From Our Partners Florida 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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Wednesday 25 January 2017 7:26 pm Energy minister Nick Hurd today reassured MPs the Green Investment Bank (GIB) will not be sold “to an asset stripper”.The government has come under pressure in recent weeks over the choice of Macquarie as the preferred bidder for the £4bn sell-off. whatsapp read more

See More

Rebel peers are confident of amending Theresa May’s Article 50 Bill in the House of Lords

Mark Sands Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Like10 Best Dog for Seniors10 Best Dog for Seniors – Carammello10 Best Dog for Seniorstibgez10 Signs & Symptoms of Lewy Body DementiatibgezHealth TipsThe Foods you Should Never Keep in The FridgeHealth TipsZen HeraldA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserZen HeraldHealthcare Degree | Search AdsA Medical Assistant Certificate Could Transform Your LifeHealthcare Degree | Search AdsStructural FoundationFoundation Repair Cost In Scottsdale May Surprise YouStructural FoundationTheGreatestListsThe impressive interior of this tiny house of 260ftTheGreatestListsMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesHealthy ZoneWarning! 10 Subtle Signs of Kidney Diseases that Should Never Be IgnoredHealthy Zone But both the Lib Dems and Labour have tabled amendments in the Lords offering protections for the rights of EU citizens.A similar amendment was rejected in the Commons, but the makeup of the House of Lords means that opposition peers can unite to outnumber Conservatives in the chamber.And sources within the Lib Dems say they have enough cross-party support to force through changes to the legislation.Read More: Parliament is likely to be virtually powerless as Brexit remakes BritainShould they succeed, the amended bill would then be returned to the House of Commons for approval. Rebel peers are confident of amending the Article 50 Bill with protections for EU nationals once the legislation arrives in the House of Lords.The Bill, which grants Prime Minister Theresa May the power to trigger Brexit talks, was passed unamended by the House of Commons last week. whatsapp whatsapp Although MPs would be able to force the Lords to reconsider, a long-running dispute could endanger the Prime Minister’s hopes of beginning Brexit talks by the end of March.May has repeatedly stressed her desire to offer similar guarantees to the rights of Europeans, but has been held back by an inability to secure equivalent protection for British nationals currently living on the continent.Read More: Is it time to abolish the House of Lords?It comes as former Lib Dem peer Baroness Nicholson has warned the party away from “cheap political stunts” to delay Brexit.Nicholson, who quit the party in September, wrote in the Sunday Telegraph that the Lib Dems’ amendments showed disrespect to last summer’s referendum verdict.”To my former colleagues I say this – don’t dishonour your democratic principles because you disagree with the outcome of the referendum. Don’t limit our country’s chances of success outside the EU in a cheap political stunt. Don’t wreck this bill,” she said. Rebel peers are confident of amending Theresa May’s Article 50 Bill in the House of Lords Sunday 12 February 2017 1:41 pm More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com read more

See More

Businesses place trust in UK economy as consumers brace for inflation

Business confidence improved far above the general EU trend, boosted by a strong reading from manufacturing: the index of industry sentiment rose from 7.7 in January to 9.9 points in February.Read more: British consumers see no hit from BrexitWhile the EC surveys overweight the UK’s relatively small manufacturing sector, the dominant services also saw a strong improvement. Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: “The largest majority of services firms since records began in June 2003 plan to increase prices over the next three months, while the proportion of manufacturers planning to raise prices rose to its highest level since June 2011.“We continue to think that the MPC will be surprised by the extent to which inflation rises over the coming months, but we doubt that the Committee will act to rein in a predominately import price-driven inflation shock.” Businesses place trust in UK economy as consumers brace for inflation whatsapp Businesses remain confident in the UK economy’s prospects despite consumers bracing for the impact of inflation, according to a long-running survey by the European Commission (EC).Confidence in the economy “markedly improved” to a 14-month high across industry and consumers, according to the survey, but expectations of rising inflation reached their highest point since January 2011. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealth & Human Research15 Foods That Should Never Be Kept in The RefrigeratorHealth & Human ResearchWanderoamWhy You Should Never Buy Meat From AldiWanderoamDo It HousesYoung Boy Speechless When He Realizes How Much His Painting Is WorthDo It HousesweniixTop 5 best crossover sedans of 2021 – WENIIXweniixEcommerce WebsiteFree Ecommerce Guides and Tips Straight | Ecommerce WebsiteEcommerce Website Customize Watch Gift”To My Husband” Customize Watch Gift Customize Watch GiftMedicareGrannyDiana Ross’ Daughter Is Basically Her TwinMedicareGrannyanymuscle.com7 Colon Pain Symptoms That Shouldn’t Be Ignoredanymuscle.comOff the Grid CollectiveThis bag will save your life in a survival situation.Off the Grid Collective Monday 27 February 2017 4:42 pm Business has performed better than was predicted by many economists following the EU referendum on the back of strong consumer spending which continued to buoy up demand.However, forecasters are almost unanimous in their belief spending will come under increased pressure as consumer price inflation accelerates.Read more: Alarm bells sound over rising costs and inflationThe devaluation of sterling by around 17 per cent since the pre-referendum peak has led to price increases for imports, including fuel and food.The Bank of England said it expects inflation to break its two per cent target when February figures are reported in late March, although the Monetary Policy Committee has repeatedly pointed to an intention to look through inflationary increases not caused by domestic factors. whatsapp Confidence in the services sector, which makes up almost 80 per cent of the UK economy dipped into negative territory in January, at minus 1.8 points. It bounced back this month to a positive reading of 2.6 points. Jasper Jolly read more

See More

A stroke of genius: How to get a loan by securing against art

whatsapp The art effectively acts as a value store, with the prospect of increasing value.Launched last year, Stewart’s business is the lending arm of the Fine Art Group, a company founded by Philip Hoffman, the former finance director of Christie’s auction house.The lending business collaborates closely with both the advisory and investment divisions within the group, and having a well-known team of art specialists on board arguably gives them the edge. It means that, unlike most lenders, the group doesn’t have to outsource expertise to get a valuation on a piece of art.“You’ve got academic experts, but you’ve also got experts that trade in the market. It’s not just about determining whether something is genuine or authentic, it’s determining what the market is for it – who are the buyers, what’s the liquidity.”Stewart says more people are thinking of art like this. “You really can apply the same approach – using the fundamental aspects of traditional finance and applying it to the art market.”The Fine Art team provides a whole strategy around a collection, giving advice on whether to hold or sell now, which makes sense given the high-value transactions they are working with. After all, you wouldn’t buy a house without taking advice, so why shouldn’t you apply the same logic to the art market?There certainly seems to be a huge degree of specialist knowledge and expertise required to interpret the art market, and many would argue it’s a close-knit circle.“We are inside the market doing all these things people from the outside are so curious about,” Stewart says. “Unless you’re actively participating in the market, you don’t know what goes on, and there are very few participants compared to traditional finance.”While Stewart can’t discuss the works of art the company holds (not even the group’s shareholders know what collateral they have), she tells me that the majority of the works held by her business fit into contemporary and impressionist categories, which are the most highly traded areas of the art market.But the lender also regularly gets requests for loans secured against work from the old masters market.“These are often quite challenging collateral because they’re very old – which means it might not be in such good condition, and the history of ownership can be quite complex.”Authenticity can also be a problem with older artwork. “Over time, the experts in old masters will change, and whether it’s authentic or not will be called into question.”Stewart spent 10 years as a finance lawyer at Barclays and Linklaters, before working as senior legal counsel at Christie’s auction house, where she advised on every aspect of art lending.Fine Art Financial Services is a business that connects both the creative and commercial industries, and having a boss at the helm that understands both worlds is imperative.Art and finance might seem incompatible, and there are plenty of people who are decisively scathing about “muddying the water” by mixing the two.But the two sectors are certainly capable of working in harmony, provided we open our minds to it. whatsapp   The world was stunned earlier this month when a 500-year-old Leonardo da Vinci painting smashed the world record by fetching $450m at auction.This figure might sound absurd, but understanding the multitude of factors that determine the value of art will remain a mystery to many of us. “Art is very personal,” says Freya Stewart, the chief executive of the art-backed lending company, Fine Art Financial Services. “If someone is going to spend that amount of money on an oil painting, they want a trophy piece. And the rarer something is, the more value it has.”Read more: A Da Vinci painting has smashed records after being sold for $450mPutting such a high price on a piece of art can seem slightly eccentric. After all, art doesn’t have 10 bedrooms and a swimming pool – it exists simply to be enjoyed. And then there’s the small matter of subjectivity. As the old saying goes, beauty is in the eye of the beholder.Using art for finance purposes is an even stranger concept to wrap your head around. Yet in many ways, the art market resembles traditional assets like property, in that the value is dependent on the push and pull of supply and demand.In fact, Stewart’s business, which lends against high-value art, is comparable to the way the mortgage market lets homeowners borrow against property. Thursday 30 November 2017 12:20 pm A stroke of genius: How to get a loan by securing against art Katherine Denham But art differs from traditional financial assets, since every piece is unique. With that, comes a unique value.I ask Stewart why these collectors want to borrow against their prized possessions. She describes two different types of client.The first is someone who needs fast cash to pay inheritance tax or a medical bill for example. “In the auction business, we call it death, divorce, debt – the three Ds – because a lot of the art market revolves around that.”The other type is the strategic borrower who wants to release capital to invest in something else, such as property or their own business.She points out that a lot of successful entrepreneurs will own high-value art and want to use it to release some liquidity. The company will assess whether a piece of art or a collection is suitable collateral to lend against, ultimately determining whether it could be sold in the marketplace.If it’s suitable, the company’s specialist team determines the value of the art, just as a bank does when it is looking to provide a mortgage on a house.The firm will then lend up to 50 per cent of the value of the art, and charge an interest rate typically in the region of five per cent. The company will put the artwork safely into storage until the loan has been paid off in full.Stewart says it’s crucial that the entire process is confidential. “Collectors want discretion to protect the value of paintings, because one of the many factors that go into determining the value of art is how fresh it is in the market.”If a piece of artwork has been running around the market, this is called “burning”, Stewart tells me. Property operates in a similar way, in that a house will lose some of its appeal if it has been on the market for a long time, therefore potentially shedding its value. More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative 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.orgColin Kaepernick to publish book on abolishing the policethegrio.comFort Bragg soldier accused of killing another servicewoman over exthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comWhy people are finding dryer sheets in their mailboxesnypost.comKansas coach fired for using N-word toward Black playerthegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Share read more

See More

Students should remain in net migration figures, govt told

Students should remain in net migration figures, govt told Catherine Neilan whatsapp “Even if a method was found, it would be unlikely to make much difference to the net migration statistics because most students leave the country and the ones who do not have to be counted,” he added. “If there is a problem with students in the net migration target, it is with the target itself rather than the inclusion of students in that target. Summarising migration policy through the net migration target may give the impression that the government seeks to reduce the net migration of all types of migrants including students.”Jasmine Whitbread, chief executive of business group, London First, said: “The MAC has recognised that international students are a boon to the economy, contributing £2.3bn each year in the capital alone.“With firms struggling to fill skills gaps and vacancies outstripping the people available to fill them, it is economic madness to send these talented youngsters packing as soon as their studies are over.”That’s why the Government should bring back a post-study work visa, take students out of the net migration target completely – and better still – scrap it. “The government must send the clear signal that the UK is open to global talent when it publishes its post-Brexit immigration plan and give our businesses every opportunity to hire some of the very best people from around the globe.” Students should continue to count towards the UK’s total immigration figures, the government’s independent adviser has said, throwing Theresa May a rare lifeline on the issue.A new report, published this morning by the Migration Advisory Committee, acknowledged international students brought “clear benefits to the whole of the UK”, and their ongoing inclusion would make it harder for the government to meet its target of reducing net figures to the tens of thousands.  Tuesday 11 September 2018 11:22 am whatsapp The report also recommended that no new cap on the number of students be introduced. Around 750,000 foreign students come to the UK each year, the report estimates, putting the total export value of the UK education sector at around £17.6bn. MAC chair Alan Manning said: “There is no doubt that international students offer positive economic benefit, including cross-subsidising the education of domestic students and research… If the government’s industrial strategy is to be a success it needs a vibrant higher education sector and it is impossible to imagine that without significant and strong recruitment of international students.” He added: “There is no evidence international students adversely affect the wider communities in which they live. Opinion polls suggest most people in the UK have a favourable view of international students even though they are less positively inclined towards immigration in general.”The committee made a series of recommendations including extending the amount of time after graduation that students are allowed to stay; allowing students who leave the UK after completing their studies to switch their student visas to a tier 2 visa for up to two years; and extending the period in which people can apply for post-study work visas.However, Manning stressed that despite widespread calls for students to be taken out of the government’s net migration target, there were no suggestions for a “practical way in which this might be done and we cannot see a reliable method”. Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPuffer fish snaps a selfie with lucky divernypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.com read more

See More

Former UBS trader Adoboli nears deportation as judge denies judicial review

first_img The 38-year-old, who was convicted on two counts of fraud in 2012 after his unauthorised trading lost the Swiss banking giant £1.8bn, was denied permission to proceed with a judicial review today.Adoboli has three days to find another route of appeal before his deportation to Ghana is confirmed.Today’s decision is likely to be one of the final twists in a lengthy battle between Adoboli’s legal team and the Home Office, which has tried to send the ex-investment manager back to his birth country on the grounds that he is a foreign criminal.Nick Hopewell-Smith, one of the lawyers acting on behalf of Adoboli, said that while more ways to appeal the ruling were being considered, the situation looked “very bleak”.Adoboli was released from prison in 2015 after serving around half of his seven-year sentence but immediately faced deportation to his country of birth. whatsapp Wednesday 24 October 2018 6:43 pm Former UBS trader Adoboli nears deportation as judge denies judicial review Hopes that Kweku Adoboli will be spared deportation were fading this evening after the former UBS rogue trader lost a last-ditch legal attempt to stay in the country. Sebastian McCarthy Since then he has given hundreds of talks to senior managers, policy makers and students in a bid to change the culture in the banking sector.While the former rogue trader was born in Ghana, he spent his early years living in the Middle East, before moving to the UK in 1991. center_img Tags: Company Senior UBS whatsapp Read This Next20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamour’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapTop 5 Tips If You’re Losing Your EyebrowsVegamourRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamourSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamour Sharelast_img read more

See More

Bitcoin mail bomber ‘snapped’ after customer service refused to reset his password

first_img Tags: Trading Archive Bitcoin mail bomber ‘snapped’ after customer service refused to reset his password Salonen, who has denied all charges, was also found guilty of sending letters filled with a harmless white powder and death threats to 21 Swedish politicians and celebrities, Dagens Nyheter reported. He was also sentenced for a minor drug offence.A spokesperson for Cryptopay told City A.M: “The office in Shoreditch was a registered address for Cryptopay, which we had changed a few months before the parcel was delivered. The address itself belongs to our former accountants and we are relieved that no one from the Accountancy Cloud team was hurt in this incident. None of our employees have ever worked at that address.“The vast majority of our employees work remotely across Europe, but we are implementing additional security measures to prevent any potential harm to our employees anyway.“We are thankful for both British and Swedish police, who were able to investigate the case with outstanding professionalism.” whatsapp Commander Clarke Jarrett, head of the Met Police Counter Terrorism Command, said: “Salonen seemingly made and sent a device that had the capability to seriously harm and even kill over something as inconsequential as a change of password.“Fortunately the bomb did not detonate. It was due to sheer luck that the recipient ripped opened the package in the middle rather than using the envelope flap which would have activated the device.”Authorities identified Salonen after matching DNA found in the letter to the Swedish police database.“Our specialist officers ensured the bomb was made safe, then skilled counter terrorism experts set to work identifying the culprit. Working quickly with Interpol, within a month they had identified Salonen as a suspect. They then assisted the Swedish authorities by providing essential evidence for the prosecution’s case and supporting witnesses from the UK to attend the trial, where they gave evidence,”​ Jarrett said.Police in Sweden said they had found bomb-making kits at the attacker’s house. Share August Graham He was also sentenced to six months for sending a series of threats to Swedish politicians, including Prime Minister Stefan Lofven.Police said the 43-year-old Swede from Gullspang had emailed Cryptopay in August last year, asking the firm to change his password.But the company’s customer service team refused, saying to do so would break its privacy policy.Two months later a bomb, which the police later said was deadly, arrived at the company’s registered address in Shoreditch where its former accountants are based.An employee started opening the parcel, but called police after becoming suspicious. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.commoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comNews SharperChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoNews Sharper whatsapp A man who tried to blow up a Hackney cryptocurrency firm which refused to reset his password has been jailed for over six years.A court in Sweden found Michael Salonen guilty of attempted murder this morning after he sent a mail bomb to London-based Cryptopay. Friday 9 November 2018 2:08 pmlast_img read more

See More

Stop being defeatist, Britain is still a geopolitical powerhouse

first_imgThe Audit defines national capability through a framework involving four essential attributes: national base (including national wealth, population, and land area); national structure (economy, technology, and culture); national instruments (namely the diplomatic and military tools available); and national resolve (including the efficiency and durability of the government, as well as the country’s willingness to spend resources on instruments of global engagement).If seen through this more refined lens, it becomes apparent that, far from being a “middle-ranking” power, the UK is well-prepared for the future.Granted, the relatively small size of the British Isles means that the UK will never be a large behemoth state like America, China or India. But delve down and things look different.For what the UK lacks in mass it more than makes up for in sophistication and efficacy. Economically, the country ranks fifth, after the US, China, Japan, and Germany. In terms of technological prowess, the UK commands third position after the US and China.And regarding cultural prestige, the UK sits above any other power bar America, as one of the world’s freest countries, scoring especially highly for discursive reach, personal freedom, and internet freedom. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com But the UK proved its resilience during the twentieth century.Indeed, it was the only country in Europe that was able to meet German historian Leopold von Ranke’s criteria for “great power” status: a nation able to protect itself against invasion, irrespective of the coalition aligned against it. As a nuclear weapons state, the UK is now safer than ever.However, modern geopolitics has become muddier. As the chief of the defence staff, General Sir Nicholas Carter, has argued, modern offensives aim to exploit the seams in between peace and war.It is therefore necessary to think of national capability through a lens far broader than GDP, population size, or military power.Last week, the Henry Jackson Society released its annual Audit of Geopolitical Capability. Applied to the G20 countries (and Nigeria, as Africa’s largest economy and most populous country), the Audit ranks the world’s leading powers in accordance with their capability to affect global geopolitics. Over the past few years, the drumbeat of British declinism has grown steadily louder. Last year, former Prime Minister Sir John Major claimed that the UK was going to become a “middle-sized, middle-ranking nation”, while Sir Simon McDonald, the head of the diplomatic service, described the country as “medium-sized”.True, the declinist rumble has haunted the UK since the end of the 1940s, if not the end of the nineteenth century, when it became apparent that the country was losing its position as “workshop of the world”. Share Tags: G20 Equally, the UK should invest more in the British diplomatic service and armed forces, while boosting what it spends on research and development to uphold its global and technological lead.Britons need to appreciate their strengths, and cultivate them. We are not in decline – we are just getting started. Thursday 10 January 2019 11:51 am whatsappcenter_img James Rogers Stop being defeatist, Britain is still a geopolitical powerhouse Opinion Further, the UK’s national instruments remain robust. It has the second greatest level of diplomatic leverage after the US and the third greatest capacity to project military power around the world after the US and Russia. To give some perspective, in terms of total displacement of large warships and auxiliaries, the Royal Navy weighs more than the navies of France, Germany and Italy combined.Finally, irrespective of the political situation in Westminster, the UK’s national resolve means that it remains one of the most stable countries in the world: it scores particularly highly for transparency, lack of corruption, and government efficiency (which may surprise some critics).It is also one of the best “international citizens”, spending a high proportion of its national income on defence, aid, and overseas direct investment.This winning combination makes the UK second overall in terms of geopolitical capability. And although it might be leapfrogged by China, there is no reason it cannot remain among the world’s most powerful nations.To do so, it needs to begin expanding its horizons to engage in new growing markets, particularly in the Indo-Pacific region, Africa, and South America. whatsapp 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.last_img read more

See More

Pound drops as Commons speaker John Bercow rules out third meaningful vote on same Brexit deal

first_img Alexandra Rogers Pound drops as Commons speaker John Bercow rules out third meaningful vote on same Brexit deal Monday 18 March 2019 4:30 pm whatsapp House of Commons Speaker John Bercow has ruled out a third meaningful vote on Theresa May’s Brexit deal unless it contains “substantial changes”.Bercow said the government was now not able to “resubmit the same proposition or substantially the same proposition as that which was rejected” in January and March this year. Share More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA 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.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comcenter_img There had been speculation that a combination of a ticking clock and the EU’s preference for a long extension to Article 50 – the mechanism that allows the UK to leave the EU – was persuading Brexiters who were previously opposed to the deal to back it.A long extension to Article 50, rather than the three-month extension that MPs voted for last week, could pave the way for a General Election or second referendum.The pound dropped from a high of $1.329 against the dollar to $1.322 at the time of writing.  Read more: Labour to force another no confidence motion if May’s deal is defeatedNeil Wilson, chief market analyst at markets.com, said: “The pound swung sharply lower after Commons Speaker John Bercow poured cold water on the government’s intentions to hold further meaningful votes on Theresa May’s Brexit deal. This is a big blow for the government as it effectively closes off another vote this week unless May can pull a rabbit out of the hat. The Speaker will only allow a third vote if the proposition changes significantly – which seems rather unlikely ahead of the European Council meeting this week.”However, it is worth noting that the government has already rowed back expectations for a third vote, with government ministers saying over the last day or so that they would only bring a vote if they thought they would win it. Based on reports today that has looked increasingly unlikely as it does not look like the DUP or ERG are ready to swing behind the PM. Nevertheless, it does rather close off the options for the PM at this critical stage.” whatsapp Making an unexpected statement in the House of Commons, Bercow cited parliamentary protocol dating back to 1604 and said it would not be “proper” for the MPs to keep voting on the same deal.”If the government wishes to bring forward a new proposition that is neither the same nor substantially the same as that disposed of by the House on 12 March, this would be entirely in order,” he said.Read more: Vote Leave chief urges MPs to back Theresa May’s deal“What the government cannot legitimately do is to re-submit to the House the same proposition or substantially the same proposition as that of last week that was rejected by 149 votes.”It was expected that the Prime Minister would hold another meaningful vote on her deal this week after it was rejected once in January by 230 votes and again earlier this month by 149 votes. Tags: Brexit People Theresa Maylast_img read more

See More

P&O Ferries sues government over £33m Eurotunnel settlement after no-deal Brexit ferries fiasco

first_img Share whatsapp Tags: Brexit Joe Curtis P&O Ferries sues government over £33m Eurotunnel settlement after no-deal Brexit ferries fiasco “The record of this transport secretary is that of a departmental wrecking ball,” McDonald added.Read more: ‘Wrecking ball’: Grayling refuses to resign over £33m Eurotunnel fiascoHowever, Grayling refused to resign despite appearing at the bottom of Tory minister rankings with an approval rating of minus 60.1. center_img It followed claims the contract amounted to illegal state aid, with Eurotunnel complaining it was not considered amid a “secretive” tender process.A DfT spokeswoman said: “We are confident we acted appropriately in reaching the agreement with Eurotunnel.”But P&O’s spokesperson added: “We do not believe that the payment of £33m of public money to Eurotunnel to settle its legal challenge to these plans is fair or reasonable.“It is explicitly designed to be invested in the tunnel’s infrastructure and if left unchallenged would put our services at a competitive disadvantage.”Fresh calls for transport minister Chris Grayling to resign came in the wake of the Eurotunnel settlement, with shadow transport secretary Andy McDonald accusing him of wasting !obscene” amounts of taxpayers’ money. The Department for Transport has already been forced to pay Eurotunnel £33m in a settlement after its decision to award Seaborne Freight a £13.8m deal.Now P&O is taking legal action against the government over that settlement, which the government stressed at the time would go towards upgrading Eurotunnel’s facilities.“We have repeatedly made clear during decades of providing vital transport services between Britain and the continent that we are happy to compete with other providers on a level playing field,” a P&O spokesman said.Seaborne was to provide extra capacity across the Channel to France in case a no-deal Brexit left UK ports suffering heavy congestion.However, the DfT cancelled the contract in February after the Irish firm backing Seaborne backed out. Ferry operator P&O is suing the UK government following the heavily-criticised decision to hand a no-deal Brexit ferries contract to a firm with no boats.Read more: Government ferry contracts to cost millions more if Brexit is delayed Friday 26 April 2019 10:53 am whatsapplast_img read more

See More