The Royal Swedish Academy of Sciences, which awards the prize, said: “Through their initial contributions, Hart and Holmström launched contract theory as a fertile field of basic research. Over the last few decades, they have also explored many...
Read moreFour ways the UK can take advantage of a weaker pound
A cheaper currency can help an economy a lot – but only if it is handled in the right way. We have a lot of experience of devaluations. At the opening of the 20th century, a pound bought you $4.87. When the Labour prime minister Harold Wilson was...
Read moreGreece unlocks fresh bail-out funds as Athens completes demand checklist
While reports suggested that creditors had withheld another €1.7bn in funds due to German concerns that measures had fallen short of demands, Jeroen Dijsselbloem, the head of the Eurogroup and Greek finance minister Euclid Tsakalotos attributed...
Read moreSupermarket price war boosts retail sales but industry warns of Brexit squeeze
Households snapped up more big ticket items such as fridges and TVs as confidence rose, the BRC said. Helen Dickinson, chief executive of the BRC, said the backdrop of “intense competition and transformational change in the industry” had put...
Read moreVladimir Putin pushes up oil prices as Russia signals it will cap production
Members, including Saudi Arabia, Iran and Libya agreed in Algiers to limit output to a range of between 32.5m and 33m barrels a day, compared with production last month of about 33.75m. However, precise details of which members will make cuts or...
Read moreLike UKIP, WANdisco is prone to trading punches
If WANdisco was a political party, it would probably have to be Ukip. The Sheffield-based software company’s leaders are prone to grandiosity, yo-yo in and out of office and throw insults, if not punches, at each other in public. Its strategy...
Read moreSoaring gilt yields are a bigger problem than the pound’s slide
The mood is fearful and febrile; very few actually understand what the government wants to achieve, for the simple reason that the government itself will understandably take time before it settles on its favourite course of option. The error is...
Read moreBritain should embrace weaker pound and it needs to fall further, says former BoE govenor and currency guru
Britain’s current account deficit was 5.9pc of GDP in the second quarter, the highest in the developed world and has been flashing warning signals for years. While views differ on the level of overvaluation, this chronic deficit is prima facie...
Read moreManufacturing giant JCB ends CBI membership over anti-Brexit stance
Analysis commissioned by the businesses group ahead of the referendum warned that leaving the EU could cost the economy £100bn and 950,000 jobs by the end of the decade. Lord Bamford, JCB’s chairman, wrote to his UK staff a fortnight ahead...
Read moreCrisis-hit Southern Rail operator threatens legal action to quash strike as franchise questions mount
“I think we can demonstrate that we have delivered excellent service in certain areas,” Mr Hodgson said. “It’s wrong to say that everything we do is bad. We do feel that we’re a strong operator and we’ve had many successes in...
Read moreWork-life balance tops list of young workers’ worries
The findings were backed up by similar research from Investec. This suggested that 37pc of ‘millennials’ – defined as those who hit working age around the year 2000 – said they preferred to spend their money enjoying themselves now...
Read moreHarbourVest vows to outbid rivals in battle for SVG
US fund manager HarbourVest has vowed to outbid Goldman Sachs and Canada Pension Plan Investment Board in its attempt to acquire UK private equity group SVG Capital. The Boston-based fund manager said on Monday that it is prepared to offer “at...
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