Oh, dear, what a setback. The usual suspects have slipped through the net. They will have to be locked up in the Financial Services Authority’s waterside fortress for 42 days, while the investigators try again to find some evidence. These suspects are the short sellers: everyone’s favourite scapegoat. They are accused of rocking the banks’
Judi Bevan meets Sir Martin Sorrell, the hard-driving Eighties entrepreneur who is still chasing acquisitions for the company he created, the advertising giant WPP ‘Building a company is the nearest thing a man can do to giving birth and nurturing a child to maturity,’ says Sir Martin Sorrell, the founder and chief executive of WPP.
Matthew Lynn on domain name sales In Amsterdam, on the afternoon of 26 June, the pound is finally being sold off. No, Gordon Brown hasn’t decided to repeat his famous trick of dumping a chunk of the nation’s gold reserves at the nadir of the bullion market. Nor has Mervyn King decided the outlook for
In the early 1960s, Harold Macmillan used to say: ‘The three big interests any prime minister should beware of taking on are the Brigade of Guards, the National Union of Mineworkers and the Roman Catholic Church.’ The maxim was true enough in those days but 50 years later makes little sense. The Brigade still has
No doubt a Martian arriving on earth for the first time would perceive little difference between an inhabitant of Great Britain and an inhabitant of New Britain (off the coast of New Guinea), except perhaps that the former showed a greater propensity than the latter to get drunk and scream in public. Similarity and difference
In 1990, the former Wall Street trader Jim Rogers (interviewed here by Jonathan Davis, 15 March) set off to circumscribe the globe astride a large motorcycle. He returned in 1992 having pondered the meaning of life — and the answer was ‘commodities’. As a player of markets, he did not have to do anything so
Ross Butler says MPs’ criticisms of the sell-off of theformer Defence Research Agency are financially naive In America it would have created celebrity entrepreneurs and provided a template for future deals. Instead, the British government’s hugely successful privatisation of the defence business QinetiQ has prompted a political witch-hunt. The taxpayer made more than £800 million
I recently gave a lecture, on quite a solemn subject, the connection between freedom and the ownership of property, to about 200 people, and was gratified — and surprised — at how well it was received. I think it was because I followed my own maxim, and spoke for only 25 minutes, leaving the rest
The last time I played rugby, I was sent off for reading on the field. It was my small satirical protest against the supposition that my character would be much improved by having my knees dragged along icy ground, or my hand trodden into the mud by boys who, by dint of no effort of
Elliot Wilson explains why international condemnation of Burma’s brutal military leaders is so ineffectual: because many other countries are eager to do deals with them The satirist P.J. O’Rourke once noted that the more references to democracy a country has in its official title, the greater the chance it is run by a grubby totalitarian
The image of women in Victorian times veered between that of madonna and whore, but nowadays in Britain it veers between harridan and slut. This is only natural in a country where vulgarity is not only triumphant, but militant and deeply ideological. The men, of course, are just as bad. Recently, I flew to an
Christopher Fildes on international accounting standards How gratifying. One set of rules for the whole world, and all of them springing from a fountainhead in Cannon Street, London EC4. There will have been no such display of global authority since the sun set on the British empire. Washington is warming to it. Brussels is restive.
In eight years in venture capital, my partners and I have met only a handful of female applicants for capital. Yet we receive 500 to 600 business plans every year. It seems remarkable when you consider that women figure prominently in almost all walks of life — over 50 per cent of medical-school graduates, for
How times change: the ECB has become the very model of a modern central bank I don’t suppose many of my readers took part in the European Central Bank’s tenth birthday celebrations last week — but if I’m wrong about Jean-Claude Trichet’s taste in columnists, then bon anniversaire, monsieur le président, though I can’t quite
Don’t ask an African elephant to show you his cardiograms I can’t help liking elephants, and I was delighted to receive from India a silk tie with a pattern of these huge and benevolent beasts, raising their trunks in the traditional gesture which means ‘Good morning and good luck’. I once had a beautiful alabaster
David Craig, a pioneer of the British hedge-fund industry, recalls lessons learned from John Paulson, the New York investor who topped last year’s global earnings league New York in the mid-1990s: my long-time investing partner Richard Atkinson and I were in the city seeking out people with whom we might co- invest. We had run
Christopher Silvester says you don’t have to be rich to invest in fine wine, and the rewards can be handsome Wine as an investment asset class intimidates most people, who mistakenly assume it is a rich man’s game when in actuality it is open to anyone who is prepared to commit a few thousand quid
On the face of it, I picked a bad week to volunteer to write about the rebirth of gentlemanly capitalism. My thesis was that the credit crunch would lead to a profound shift in the way the City goes about its business, heralding a return — if not to bowler hats and brollies, liquid lunches
‘Mr Pont, may I introduce you to Miss Austen?’ There is something infinitely touching about a creative artist who dies young, not before displaying sure evidence of a glorious gift but without having time to set up the arching parabola of developing genius. One thinks of that magic group at the beginning of the 19th
Staying recently in a handsome French provincial city, I could not help thinking, as I walked down its silent cobbled streets at night, what it would have been like if it had been in England. How restful is that deep, urban silence, which the young English so hate for fear of having to attend to