Ben Thompson
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Articles by Ben Thompson
Ben Thompson | Why Australian businesses must embrace remote work | Newcastle Herald | Newcastle, NSW
Employers across the country are grappling with a workplace predicament that will define this decade: should there be a mandated return to the office? Subscribe now for unlimited access. or signup to continue reading All articles from our website & app The digital version of Today's Paper Breaking news alerts direct to your inbox Interactive Crosswords, Sudoku and Trivia All articles from the other in your area Globally big businesses support a return to office.
Will the new Labour government benefit the UK housing market?
"Even at these early stages, there’s no doubt that the government’s focus on planning as a driver of economic growth is a positive development for the industry." As the dust settles and the country embraces a brand-new government, the industry’s attention has naturally turned to how this will benefit UK housing.
Mayer Brown advises Clifford Capital and Pentagreen Capital on joint loan to finance bioenergy projects in Southeast Asia
Mayer Brown has advised Clifford Capital, an infrastructure financing platform, and Pentagreen Capital, the sustainable infrastructure debt financing platform established by HSBC and Temasek, on a US$30 million joint green loan to leading Singapore energy provider, BECIS Bioenergy Pte. Ltd. (BECIS). This collaboration is set to catalyze the construction of a portfolio of distributed sustainable bioenergy projects across Southeast Asia and India.
Is it time for stamp duty reform?
"The impact of SDLT goes beyond the initial purchase, as the tax structure can also discourage movement within the housing market." The impact of SDLT A significant factor in this slowly dissipating dream is the Stamp Duty Land Tax (SDLT), a levy on property purchases that can add a substantial financial burden. However, for those unable to shoulder the cost, it becomes an insurmountable barrier.
What does the new financial year mean for the mortgage market?
"While there’s been plenty of stabilisation and positive movement on the horizon - with potential rate drops by the Bank of England in the summer - the mortgage market is still facing some bumps in the road" Rising mortgage rates One of the biggest concerns for homeowners is the rise in mortgage rates following recent hikes. Several lenders have increased their fixed-term mortgage rates, putting pressure on household finances.
The Church of Dr Funkenstein
As the prime minister of Parliament and the man who put the fun into Funkadelic, pilot of the Mothership and later overlord of the P-Funk All Stars, George Clinton created a kaleidoscope of collaborations whereby an illustrious supporting cast could help him populate a musical universe of his own creation. If this makes him sound […]
Implementation Plan To Vietnam's PDP8 Released
Following the release of Vietnam's eighth national power development plan (“PDP8”) in mid-2023, the Prime Minister has now approved the implementation plan to PDP8 under Decision No. 262/QD-TTg (“Decision 262”).
The race to interest rate cuts has begun. What's next for mortgage prices?
Ben Thompson March 29, 2024 at 3:11 p.m.·3 min read The race to base rate cuts has well and truly begun. Indeed, this was largely signalled in interviews with the Bank of England’s Andrew Bailey after the MPC voted to hold rates for the fifth consecutive meeting. (Gareth Fuller/PA) (PA Archive) The race to base rate cuts has well and truly begun.
The Race To Interest Rate Cuts Has Begun. What's Next For Mortgage Prices? - Evening Standard
The race to base rate cuts has well and truly begun. Indeed, this was largely signalled in interviews with the Bank of England’s Andrew Bailey after the MPC voted to hold rates for the fifth consecutive meeting. However, the path to lower rates in 2024 thus far has not been as straightforward.
Cracking the Code on Talent: Strategies for today's job market
In today’s fiercely competitive job market, the demand for top talent across various industries poses a significant challenge. Many sectors like mining, construction and IT, are subject to an ageing workforce and there is an urgent need for more young talent to fill these vacant positions. Professions that need specific skill sets, such as software development and engineering, are difficult to occupy, particularly among recent university graduates.
Cracking the code on talent
In today’s fiercely competitive job market, the demand for top talent across various industries poses a significant challenge. Many sectors like mining, construction and IT, are subject to an ageing workforce and there is an urgent need for more young talent to fill these vacant positions. Professions that need specific skill sets, such as software development and engineering, are difficult to occupy, particularly among recent university graduates.
Opinion: The pros and cons of different EV charging options
By Ben Thompson, managing director of EV and Energy at Radius Electric vehicle (EV) charging has been a hot topic in the UK in recent months. From Government legislation such as ultra-low emission zones, questions around cost benefits, to innovative methods of increasing EV charging infrastructure, there is no shortage of talking points when it comes to EVs in the UK. Boosting EV adoption could be the answer to reducing emissions and reaching net zero targets for fleet managers.
Employment Hero CEO Ben Thomson's Guide for SMEs in 2024
Small and medium-sized enterprises (SMEs) serve as the backbone of the Australian economy, contributing over 50 per cent of GDP and accounting for 70 per cent of all jobs in OECD countries. Despite their pivotal role, economic challenges often expose SMEs to vulnerabilities, especially when competing for top talent against larger corporations with deeper pockets and more extravagant perks.
How Closing Loopholes Bill changes the employment landscape
Small businesses need to assess the impact of stronger worker protections and a more regulated environment. ••12 minute read The introduction of the Closing Loopholes Bill represents a significant shift in the employment landscape for SMEs. The landmark legislation will reshape the country’s workplace laws for a sector that forms the backbone of our economy. You’re out of free articles for this month To continue reading the rest of this article, please log in. Keep me signed in on this device.
Microsoft sinks $5 billion into Australia to 'help seize AI era'
Published on October 23, 2023 The $5 billion digital infrastructure investment, announced during Prime Minister Anthony Albanese’s visit to the United States, will see the US$2.45 trillion business increase its computing capacity in Australia by about 250% over the next two years.
What good is the office now anyways?
Published on October 22, 2023 For more than five decades, 92-year-old insurance giant Allstate had a sprawling 2-million square foot headquarters in suburban Chicago that by 2020 housed some 5,200 people across roughly 280 acres. But last year, the company sold the Northbrook, Illinois campus. With 83% of its employees now remote, the complex was a ghost town on the average weekday.
From Airbnb to an Aussie telco: Analysing the ultimate company culture
Published on October 21, 2023 Joseph Michelli, psychologist and author on all things customer experience, thought it was a joke when contacted by a member of the Macquarie Telecom [now Macquarie Technology] team more than a decade ago, telling him they’d read his book about how the Ritz-Carlton treated its guests and were trying to apply some of the ideas. Minutes later, the CEO, David Tudehope, got on the line with the Seattle-based author and convinced Michelli he had at least read the book.
The great rebalancing: How we can get the most out of the Aussie tech sector
Published on October 18, 2023 These redundancies have come off the back of USA-based technology giants — Google, Microsoft, Meta, Amazon and X (formerly Twitter) — also shedding thousands of employees, prompting some frenzied calls of the end of the tech boom that has characterised the last decade. Understandably, the news of a technology downturn has shaken many in the sector, particularly after a long period of sky-high valuations and a seemingly endless supply of cash.
ESG: How is the UK mortgage industry performing?
"Supporting and encouraging diversity, equity, and inclusivity in financial services should be a commitment made by all mortgage firms" Once a niche concept, Environmental, Social, and Governance (ESG) considerations have become something of a central pillar for responsible business practices. Indeed, ESG has more than proven its staying power, and continues to gather momentum. The mortgage sector in particular recognises that embracing ESG principles is of key strategic importance.
How retailers can use AI to attract and retain talent
Skip to content Sluggish growth, rising interest rates and the skyrocketing cost of living pressures have driven up overheads for most retailers, making it harder to operate and expand. Our retail base has repeatedly told us that record-low unemployment rates are making it extremely difficult to find, attract and retain the talent they need to grow their business.
Planning an Acquisition Strategy in Today’s Economy
Distressed assets, private borrowing options and purchasing structures that require less borrowing will drive M&A activity this year. Whether you think recession is around the corner, that we’re already there, that it’s media fearmongering, or you’re just waiting to see what happens, your acquisition strategy must be evaluated, and possibly modified, depending on the economy’s strength or weakness and your business’s insulation or vulnerability. Where Do You Think We Are?
The Secure Jobs, Better Pay Bill, must take into account real-time wages data
You would have noticed that things are moving at rocket speed regarding the Secure Jobs, Better Pay Bill. On 27 October 2022, the Bill was introduced in Parliament against the backdrop of Labor’s election promise to “get wages moving again.” With a deal now struck with Independent ACT senator David Pocock, the legislation is on track to pass before the last sitting day for this year, as the Government had hoped. The contentious nature of the Bill is well documented.
Vietnam's Direct PPA Pilot Scheme | Energy Market Update – June 2022 - Renewables - Vietnam
Background and Current Legislative Status Vietnam's Ministry of Industry and Trade (MOIT) on 20 May 2022 released a revised draft decision on the proposed direct power purchase agreement (DPPA) pilot scheme for stakeholder consultation (May 2022 Draft Decision).1 Vietnam is seeking to implement a DPPA pilot scheme which, for the first time, will enable renewable energy generators to sell clean electricity to private offtakers via a contract for difference (CfD)/virtual power purchase...
Vietnam's Direct PPA Pilot Scheme | Energy Market Update – February 2022 - Energy and Natural Resources - Vietnam
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The future of work is hybrid and businesses must adapt
The future of work is hybrid and businesses must adapt, SME - THE BUSINESS TIMES
MNCs eye local market hires, instead of expat pool, to drive strategic growth in S-E Asia
21 Jan 2021 - 05:50 Singapore MORE multinational corporations (MNCs) are increasingly turning to the local market, instead of the top expatriate talent pool, to find that special leader to drive their strategic growth in South-east Asia, and this is putting a premium on top talent in the rapidly growing Need help?
6 ways to start the new financial year strongly when you're in business
For many small businesses, this financial year has been a really challenging time. Earlier in 2020, Australia’s bushland was hit by devastating fires followed closely by the COVID-19 crisis, which saw the world and economy come to an abrupt standstill. As the world went into lockdown, local businesses were forced to hibernate. Even for those that could continue trading, many had no choice but to reduce staff hours or wages in response to the diminished demand.
SUV stolen from East Boston parking lot - with a dog inside
A lifelong East Boston resident suffered “any dog owner’s worst nightmare” Sunday morning after a quick stop at an Orient Heights convenience store ended with the theft of her SUV and beloved yellow labrador sitting inside. The car theft occurred around 8:45 a.m. Sunday, in the parking lot between Royals Roast Beef and Saratoga Market on Trident Street in East Boston, according to Rosa Nese of East Boston.
Manchester City Packs Most Financial Punch on Planet
Manchester City has more financial muscle than any other club in world football – according to the Soccerex Football Finance 100. This ground-breaking new annual report by Soccerex, which has produced many ‘eye-catching’ results, uses a bespoke methodology to evaluate and rank the top 100 clubs across the planet based on their finances.
Let's not fool ourselves. In RA, the ACR/EULAR remission criteria are not perfect!
We were interested to read Dr Boer’s recent eLetter,1 in which he outlines the merits of the American College of Rheumatology (ACR) and European League Against Rheumatism (EULAR) 2011 consensus remission criteria in rheumatoid arthritis (RA),2 and proposes that this definition equates with absence of disease. The 2011 ACR/EULAR remission criteria do indeed hold several benefits over composite index-based remission definitions such as the disease activity score in 28 joints (DAS28).
What now for Hinkley Point?
The deal to build a new nuclear power plant at Hinkley Point in Somerset was on the verge of being signed when the UK government announced it wanted to review the details. So where does this delay leave the project? With a new Prime Minister and new cabinet, the Government may have wanted to re-assess the ÂŁ18bn cost. At that price, it would be the most expensive nuclear power plant ever built. Some say the cost could ultimately be much higher.
FTSE 100 falls back from record
(Open): After closing at an all-time high on Friday, the FTSE 100 briefly set a new record before slipping back. The FTSE 100 had set a record close of 7,022.51 on Friday, and when trading began it edged up to a new intraday high of 7,027.33 before falling. In early morning trade the index was down 19.98 points at 7,002.53. Comments from brokers were behind some of the early moves. Cruise operator Carnival fell 1.9% after Deutsche Bank cuts its rating to "hold" from "buy".
Aviva Investors pays nearly £150m over control failures
Aviva Investors has paid out nearly £150m in fines and compensation for systems failures that prevented it managing conflicts of interest fairly. The figure included a £17.6m fine from the Financial Conduct Authority (FCA) which was discounted by 30% by the FCA because Aviva co-operated with it in an "exceptionally" open manner. The other £132m was to ensure investors were not left out of pocket. The FCA said the fine covered failings spanning eight years to June 2013.
Housebuilder Persimmon reports profit jump
UK housebuilder Persimmon has reported a big rise in full-year profits, and says it has had an "encouraging" start to the current year. Pre-tax profit jumped nearly 40% to £467m last year, with revenue up 23% to £2.6bn. Persimmon completed 13,509 homes in 2014, up 17%, while its average property price rose 5.3% to £190,533. It said demand was helped by improved lending from mortgage providers and the government's Help to Buy scheme.
Bank of England's Mark Carney: Low inflation temporary
The Bank of England governor says low inflation is temporary and will return to its 2% target within two years. "What's important is that workers and businesses understand this is a temporary phenomena," Mark Carney told MPs. He said the nine-strong Monetary Policy Committee would "bring it back to the target in a reasonable horizon", which he said would be within two years. Inflation stood at 0.3% in January, well below the Bank's 2% target.
OECD: Boosting UK productivity is key to prosperity
The Organisation for Economic Co-operation and Development (OECD) says further progress in UK living standards depends on higher productivity. It says the UK's growth rate is now the highest in the G7 leading nations at 2.6%, but output per worker needs to rise to maintain growth. But wide-ranging government policies have aided recovery, the OECD says. These include low interest rates, quantitative easing (QE) and support for the housing market.
Takata expects bigger annual loss due to airbag recall
Japanese airbag maker Takata now expects its annual net loss to be 24% higher than it had previously forecast as charges for vehicle recalls jump. The company said it paid nearly $30m (£19.7m) in extra charges for vehicle recalls to replace potentially deadly airbag inflators that it produces. That pushes it towards an annual loss of 31bn yen ($264m; £173m), from a previous forecast of $25bn yen. Its airbags have led to the recall of 25 million cars globally since 2008.
Portugal Telecom shares spike on bid
Shares in Portugal Telecom have jumped following a €1.2bn (£940m) bid by the Angolan president's daughter. Isabel dos Santos has offered €1.35 a share for Portugal Telecom, which is controlled by Brazilian telecommunications group Oi. The company described the bid as inopportune, ill-timed and inappropriate. Her move is an attempt to derail a €7bn offer for Oi's Portuguese assets by French company Altice.
Carlsberg profit hurt by fall in the Russian rouble
Carlsberg has reported a drop in third quarter profit after a fall in the Russian rouble hit its performance. The Danish brewer reported a net profit of 2.1bn kroner (£222m; $353m) in the three months to the end of September, down 4.8% from a year ago. Russian revenues fell 15%, but Carlsberg said this was mostly due to currency effects and that underlying growth was flat. Carlsberg makes nearly a quarter of its sales in Russia.
Russian rouble weakens on debt downgrade
The Russian rouble has weakened further against the dollar following a downgrade of the country's debt rating by the ratings agency Moody's. The rouble was trading at 40.85 to the dollar, down 0.2% from Friday. It has fallen 15% since sanctions were imposed on Russia in late March. On Friday, Moody's cut its rating of Russian debt to Baa2, its second-lowest investment grade. It blamed the economic damage caused by the sanctions.
Adidas shares up on Reebok bid speculation
Shares in sportswear giant Adidas jumped 6% on Monday after a report said a group of investors was considering a bid for the company's Reebok brand. The Wall Street Journal said Hong Kong's Jynwel Capital and investment funds in Abu Dhabi were considering an offer worth $2.2bn (£1.36bn). The news provided a welcome boost for the German company's flagging share price, down about 40% this year. Adidas bought US-based Reebok in 2006, but has struggled to boost sales.
FTSE slips but Tesco shares rise
(Open): After enjoying a strong rebound on Friday, UK stocks had a mixed start to trading on Monday. The benchmark FTSE 100 index opened higher but then slipped back to stand down 10.25 points at 6,300.04. Tesco shares rose 2.8% after a report in the Times said some private equity groups were planning to bid for the supermarket's Asian business. Tesco is due to report half-year results on Thursday, when it should give more details on its profits error.
Australia's Medibank Private plans share sale
Australia's government says it hopes to raise up to $5.5bn Australian dollars ($4.8bn; £3bn) by selling shares in health insurer Medibank Private. The government says it intends to sell its entire shareholding in the firm, which is Australia's largest private health insurer. Shares would be priced at between A$1.55 and A$2 per share. The sale could be the largest share offer in a state firm since the government sold Telstra in 1997.
JP Morgan Chase posts $5.6bn profit
US banking giant JP Morgan Chase has reported a $5.6bn (£3.5bn) profit for the three months to 30 September. The quarterly results represent a marked improvement on a year earlier, when the bank made a $380m loss. This was the result of setting aside billions of dollars to settle government charges relating to the sale of mortgage-related investment products in the run-up to the financial crisis. JP Morgan is the first major US bank to report its third quarter results.
Tesco asks three more non-executive directors to leave company
Supermarket giant Tesco has asked three more executives to leave their posts as the fall-out continues from its £250m profit guidance overstatement. They take the number of executives asked to leave in its wake to eight. Tesco said, "We have asked three employees to step aside to facilitate the investigation into the potential overstatement of profits in UK food.
House price rises levelling off, ONS figures show
14 October 2014 Last updated at 11:02 House price rises levelling off, ONS figures show Prices in London are still rising by 19.6%, according to the ONS There is further evidence that house prices rises are starting to level off, following the latest figures from the Office for National Statistics (ONS). In the year to August 2014, the ONS said house prices across the UK rose by 11.7% - the same figure as in July. However, the average price of a house or flat hit another record level, of £274,000.
India wholesale prices fall to five-year low
India's inflation rate fell to a five-year low in September because of lower food and fuel prices. The Wholesale Price Index (WPI), India's main gauge of inflation, rose 2.38% in September from a year earlier. That is the smallest increase since October 2009. Despite the moderation, analysts caution that the central bank is unlikely to lower the cost of borrowing in the near future. That is because of poor monsoon rains that could affect future crops and drive food prices back up.
Barclays fined £38m for putting clients' money 'at risk'
Barclays has been fined a record £38m by the City regulator for failing to keep its clients' money separate from its own. It comes three years after Barclays paid out £1.1m for a similar issue. The Financial Conduct Authority (FCA) said the bank had put £16.5bn of clients' money "at risk" between November 2007 and January 2012. Barclays said it did not profit from the issue and no customers lost out.
Spire Healthcare hospital chain to float on stock market
The UK's second largest private hospital chain, Spire Healthcare, has announced plans to list on the London Stock Exchange in a float expected to value the group at about £1bn. Spire, which is owned by private equity firm Cinven, operates 39 hospitals and 13 clinics across England, Wales and Scotland. The flotation is expected to take place in July. The group hopes to raise £315m and will use the money to reduce its debts.
South African miners return to work after wage deal
Thousands of miners at South Africa's biggest platinum mining firms have returned to work, a day after unions signed a wage deal to end a five-month strike. Employees at Anglo America Platinum, Impala Platinum and Lonmin will have to undergo medical checks and safety training before they begin work again. The firms said it would be "some time" before they resumed full production. The "safety and wellness of employees was paramount", the companies said.
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