Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
This is an extract from Martin Vander Weyer’s ‘Any Other Business’ column. In connection with the receding possibility of a London Stock Exchange listing for Saudi Aramco, I wrote that the City authorities’ apparent eagerness to accommodate companies ‘from places not best known for their accounting standards, business probity or general attachment to democracy and
There are occasions when an apparently negative economic indicator is also in some sense positive. September’s 9 per cent drop in new car registrations compared with the same month last year was no bad thing if it means fewer people are loading themselves up with debt to buy cars — and won’t hurt British car
In connection with the receding possibility of a London Stock Exchange listing for Saudi Aramco, I wrote that the City authorities’ apparent eagerness to accommodate companies ‘from places not best known for their accounting standards, business probity or general attachment to democracy and the rule of law’ smacked of Brexit-driven desperation. Russia was one of
Another week, another blue-chip in the dock. The US Securities and Exchange Commission has brought fraud charges against London-based mining giant Rio Tinto and two former executives in relation to an ill-starred coal venture in Mozambique. Whatever its legalities, this was a colossal corporate cock-up. In 2010, Rio paid $3.7 billion for Riversdale, an Australian
Another week, another blue-chip in the dock. The US Securities and Exchange Commission has brought fraud charges against London-based mining giant Rio Tinto and two former executives in relation to an ill-starred coal venture in Mozambique. Whatever its legalities, this was a colossal corporate cock-up. In 2010, Rio paid $3.7 billion for Riversdale, an Australian
How did we mislay half a trillion pounds? Revised data from the Office for National Statistics has just reduced the UK’s ‘net international investment position’ from a surplus of £469 billion to a deficit of £22 billion. Downing Street dismissed this as ‘a technical revision’ — and in truth it’s not as bad it sounds,
How did we mislay half a trillion pounds? Revised data from the Office for National Statistics has just reduced the UK’s ‘net international investment position’ from a surplus of £469 billion to a deficit of £22 billion. Downing Street dismissed this as ‘a technical revision’ — and in truth it’s not as bad it sounds,
How did we mislay half a trillion pounds? Revised data from the Office for National Statistics has just reduced the UK’s ‘net international investment position’ from a surplus of £469 billion to a deficit of £22 billion. Downing Street dismissed this as ‘a technical revision’ — and in truth it’s not as bad it sounds,
Ah yes, our top Brexit negotiating team… Sack Boris! Sack Spreadsheet Phil! Don’t bother sacking Theresa because she’s already had the real P45 from her colleagues as well as the joke one from the prankster; she just hasn’t been asked to leave the building yet. That leaves David Davis as the last man standing but
This is an extract from the ‘Any Other Business’ column in this week’s Spectator. ‘Bombardier exposes post-Brexit realities’ was the FT’s headline after the Trump administration imposed a 300 per cent tariff on sales of the Canadian manufacturer’s C Series aircraft into the US, threatening 4,000 Bombardier jobs in Northern Ireland. Irish Taoiseach Leo Varadkar weighed
A reader in the FTSE boardroom world told me sternly the other day that I should resist the temptation to join the Corbynist mob and most of today’s media in sniping at corporate capitalism, and instead celebrate its positive achievements. So, here’s a parable designed to do just that. The Kensington Aldridge Academy is a
‘Bombardier exposes post-Brexit realities’ was the FT’s headline after the Trump administration imposed a 300 per cent tariff on sales of the Canadian manufacturer’s C Series aircraft into the US, threatening 4,000 Bombardier jobs in Northern Ireland. Irish Taoiseach Leo Varadkar weighed in: ‘There’s been a lot of talk of a new trade deal between
Sir Richard Greenbury, the former Marks & Spencer chairman who died last week aged 81, was one of those choleric but thin-skinned corporate chiefs (Sir Alastair Morton of Eurotunnel was another) who never learned to handle journalists. The Telegraph reporter Kate Rankine famously caused him to blow his top at a 1997 press conference by asking when
Monarch Airlines was the ghost of an earlier age of holiday travel. When I used to see its planes lined up at Leeds-Bradford airport alongside those of Ryanair and its brash northern rival Jet2, I sometimes wondered why Monarch was still there. Now it has been brought down by a combination of the weak pound,
An Uber insider tells me not to write off the ride-hailing giant too soon, because it’s a very smart company for all its faults — and because the numbers of drivers and users for whom it is part of daily life will make it difficult for Transport for London to uphold its licence withdrawal on
It is more than three years since Bank of England governor Mark Carney was accused by Labour MP and Treasury Select Committee member Pat McFadden of behaving like ‘an unreliable boyfriend, one day hot, one day cold’ in his hints about forthcoming interest-rate rises. And it’s more than a decade since the last time the
The price of offshore wind power has halved, making those giant inshore turbine arrays we love to hate look competitive with new nuclear power for the first time. The headline number in this story is £57.50, which is the guaranteed electricity price per megawatt hour bid by two windfarm ventures in the government’s latest ‘contracts
Should we place faith in a survey, conducted in June but published this week, that says London is still the world’s pre-eminent financial centre? Yes, in the sense that no one challenges that long-standing claim as of today; no, in the sense that complacency would be a huge mistake while every financial firm operating in
Am I ready to shell out £1,000 for an iPhone X with its exciting new ‘Face ID’ feature? Of course not. Readers may recall I was keen to take several tech-steps back to the retro Nokia 3310 that was relaunched in March — but when I finally plucked up courage to take my unloved iPhone
Should we place faith in a survey, conducted in June but published this week, that says London is still the world’s pre-eminent financial centre? Yes, in the sense that no one challenges that long-standing claim as of today; no, in the sense that complacency would be a huge mistake while every financial firm operating in
