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This week’s news: 19-23 October 2015

Published on 23rd October 2015 - Last update on 15th December 2019

The big news this week

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This is an interesting profile of Angus Deaton, who recently won the Nobel prize for economics: “The prize celebrated a whole career, in which he has used data to overturn sloppy assumptions, reimagined how we measure the world, and intertwined microeconomics and macroeconomics.” (The Economist)

Per the Association of Accounting Technicians, Brighton is the best city in the UK to start a business in – and London’s not even in the top five. The AAT considered a bunch of factors, including digital connectivity, number of SMEs starting and failing, and even pollution. Find out where your city ranks here. (The Economic Voice)

How Transport for London is lying to us (don’t worry, this is less conspiracy-theorist than it sounds): this short article also contains a larger deconstruction of what it means to make a profit (Medium)

In the latest #Brexit news, Bank of England Governor Mark Carney has once again broken with tradition and given his views on a political issue – something bank governors tend to avoid. His view is that “overall EU membership has increased the openness of the UK economy, facilitating dynamism but also creating some monetary and financial stability challenges for the Bank of England to manage.” Politico and the Guardian both have rundowns of his speech.

For obvious reasons, we’re in favour of increasing the reach of digital technology in the business world, but here’s some figures to back up that position – namely, an extra £56 billion available to SMEs who adopt the latest tech. (CBR Online)

…but on the other side of the coin, the UK’s facing a major digital skills gap. (MicroScope)

HMRC has scrapped the controversial Business Record Checks, announcing that they weren’t able to identify the businesses they thought were keeping inadequate records. Instead, they’ll be focusing on education and prevention. (Accountancy Live)

The Atlantic posted a discussion of John Kay’s newest book, Other People’s Money: The Real Business of Finance, in which he states “the proliferation of poorly understood complexity in the financial sector was intentional.” The takeaway: nobody really knows what’s going on, and the bankers like it that way. (The Atlantic)

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Sarah Thornton

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