‘When markets are unsteady and investors are nervous, you can’t beat gold.’ That was my grandfather’s saying, common enough, I daresay, in late Victorian Manchester. Jimmy Goldsmith was another believer. ‘You know what the Aztecs called it,’ he would say with relish, ‘they had a special word for it — the excrement of the gods.’
Anyone who claims to understand Thailand’s politics should be sectioned. The country is preparing for a national election in December and the leader of last year’s bloodless military coup, General Sonthi Boonyaratglin, is retreating on his promise to drive his tank back to barracks. Anyone who claims to understand Thailand’s politics should be sectioned. The
You know Kipling’s words, about meeting triumph and disaster? Well, imagine this. You’re in your mid-forties, chief executive of one of Britain’s fastest-growing public companies. You know Kipling’s words, about meeting triumph and disaster? Well, imagine this. You’re in your mid-forties, chief executive of one of Britain’s fastest-growing public companies. Your personal fortune is in
Once upon a time there was an investment banker. He was hardly today’s stereotypical WASP smoothie, but an overweight, sweaty trader from the Bronx who shouted a lot, ate pizza at his desk when he wasn’t standing on it, and treated colleagues as imbeciles. Once upon a time there was an investment banker. He was
‘This is backwoods, really backwoods,’ says Aditya, as the rackety, jam-packed bus pulls into Rajgarh, a small town in the north-west of Rajasthan, India’s desert state. ‘This is backwoods, really backwoods,’ says Aditya, as the rackety, jam-packed bus pulls into Rajgarh, a small town in the north-west of Rajasthan, India’s desert state. Aditya is the
I’m back, as Arnold Schwarzenegger famously declared in Terminator 3: Rise of the Machines. In fact I haven’t really been away, just hovering in cyberspace to leave room for other contributors in our slimmed-down-for-the-beach summer Business section. I’m back, as Arnold Schwarzenegger famously declared in Terminator 3: Rise of the Machines. In fact I haven’t
Why would anyone choose to spend an afternoon with a self-proclaimed geek in a clip-on tie, who calls himself a ‘field agent’? Carphone Warehouse is betting that many of us will jump at the chance. They’ve brought the Geek Squad over from the US and are offering their nerds to UK consumers and their computers.
As someone who has spent nearly 60 years as a professional writer, I am inevitably set in my ways, though capable of changing them radically in a crisis. But I recognise that my ways are not typical, that there is no such thing as a typical writer. Starting early is for me axiomatic (it is
Writing in the midst of turmoil, one is always at risk of being overtaken by events, but I have found myself vaguely approving of the recent market panic. The American housing slump has made fools only of those who thought house prices could go on rising steeply for ever; the resultant sub-prime lending crisis reminds
The fiercer the fighting for our boys in Basra and Helmand, the more important you may think it is that Britain has a thriving arms industry to supply them. The reasons that this isn’t so can be summed up in one Arabic phrase which translates, ironically, as ‘dove of peace’: Al Yamamah. The fiercer the
Recently a friend from abroad, anxious to enrich himself from our past, asked me about the cathedrals. Which must he visit, which should he visit if he had time? These are not easy questions. Many years ago I wrote a book about British cathedrals and was surprised to discover how many of them there are,
If only Alan Greenspan had read John Locke more attentively. The 17th-century philosopher, who doubled as a brilliant economist, was among the earliest exponents of the law of unintended consequences. It is one of the most powerful lessons economics has to teach, yet one the former US Federal Reserve chairman conspicuously failed to heed. To
Chilling echoes of the 2001 dotcom crash attended the flotation of the internet price comparison business Moneysupermarket.com at the end of last month. Simon Nixon — not the financial journalist of that name but the company’s founder — was jetting around America and Europe on his roadshow as the market started to wobble, spooked by
In this age of creeping censorship ‘mad’ is not a word to be used lightly. It would certainly be unlawful to use it in Kipling’s sense when he refers to frontier tribes being ‘stirred up’ by ‘a mad mullah’. In this age of creeping censorship ‘mad’ is not a word to be used lightly. It
It is 12 years since Tony Blair did battle with the socialist dinosaurs and forced them to abandon their commitment to nationalisation with his celebrated ‘Clause 4 moment’ — the very birth of New Labour. It is 12 years since Tony Blair did battle with the socialist dinosaurs and forced them to abandon their commitment
I suppose in 100 years’ time, perhaps much sooner, no one will smoke. So we will be back where we were before the 16th century, when adventurers like Raleigh brought the Red Indian habit of smoking tobacco to Europe. I suppose in 100 years’ time, perhaps much sooner, no one will smoke. So we will
The cartoonist Vicky (Victor Weisz, 1913–66) fled to London not long after the Reichstag fire, with the Gestapo at his heels. Had he not possessed a Hungarian passport he would never have got away, for as the boy wonder of Berlin political cartooning in the 12 Uhr Blatt, he had gone for Hitler as far
Stamps, it is said, are the most valuable commodity on earth by weight. An 1868 Benjamin Franklin stamp, for example — a standard-sized stamp weighing a fraction of a fraction of a gram — was bought recently for $2.97 million by an American investor. So the claim may well be true. Rare and desirable stamps,
Private equity investment, backing venture capital and management buy-outs, has been around a long time. Private-equity takeovers of public companies listed on the stock exchange are a more recent development; and the number and size of such transactions has increased dramatically. Since some identified individuals have made enormous fortunes, inevitably there has been a bit
At this time of year my thoughts often dwell on the Loch Ness Monster. Let me recapitulate what we know about this beast. It was first spotted on 22 July 1932. It was described as crossing the main road running north of Loch Ness and being about six feet long. Later it was seen in