The Edge

Richard Northedge takes on corporate finance

Archive for the ‘Investment’ category

Budget cuts will improve universities

If university students and lecturers are really the brightest in the land they would know why they are being told to trim academic budgets. Instead they have suspended their natural animosity to unite in protest against the government.
(more…)


Out of recession – but only just

As the UK economy’s return to growth was slower and lower than expected, should we prepare for a return to recession? That could be the second dip of a W-shaped curve - but it might even stem from a revision of the figure that seemingly ended the slump.
(more…)


Shrinking Aim shows need for new small firms market

There has been a stream of stock markets for small companies over the past three decades, but with the latest, the Alternative Investment Market (AIM), in decline, is it time for another go at this problem?
(more…)


Scrapping Hips is a cost for homebuyers

Home Information PacksHips – were introduced as the housing market turned down, but it would be wrong to blame them for the house price slump. And it would be equally wrong for the Conservative Party to scrap them just because they were a Labour idea.
(more…)


Regional development agencies have a place

Criticising what regional development agencies do is easy but doing without the RDAs may still be hard. The Conservatives are pledged to axing the state agencies but should their powers be passed up to central government or passed down to an even more local level?
(more…)


British Land and the J Sainsbury director

Corporate governance codes make much of non-executives’ independence nowadays – so it is surprising to see one of our biggest property companies putting a director of one of its biggest customers on its board.
(more…)


Bidders lose their nerve

There is not only a dearth of takeovers at present, there is a trend to abandon bids that have already been announced. Are bidders’ eyes proving bigger than their stomachs or have predators lost their nerve?
(more…)


Debenhams – a tale of our time to remember

For decades to come, Debenhams (LON:DEB) will be a business school case study. It is also the story of the 21st century boom and bust - bought by private equity, loaded with debt, floated expensively, shunned, an Icelandic target, forced to raise new capital – and now the private-equity funds have exited.
(more…)


Quoted companies should shun the regulatory race to the bottom

There has been one set of rules for foreign firms wanting a London share listing and another for UK companies. It is right to level the playing field but it is wrong to choose the lowest common denominator by easing standards for British companies.
(more…)


Votes for sale is a bad idea

If stock lending is so bad the regulators have considered banning it, why is selling votes any better? Treasury minister Lord Myners seems determined to end the concept of one share, one vote.
(more…)