Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
All good things must come to an end, including summer holidays and bull markets. The bull run in US shares that began in the aftermath of the financial crisis in March 2009 has now officially passed the previous record of 3,452 more-up-than-down days from October 1990 to March 2000. This time round, the S&P500 index
Costa, in my opinion, sells a decent cup of coffee. It employs polite youngsters who seem happy in their work. If you’re desperate for caffeine, even its petrol-station vending machines are not too bad. And unlike the UK operation of Starbucks, whose coffee is vile, it pays tax on its profits at close to the
The wonder of Wonga is that it lasted so long. The arch-villain of the payday loan sector, which grew like a mutant fungus out of the wreckage of the financial crisis, once clocked up a record Representative Annual Percentage Rate (APR) on its loans to gullible and desperate cash-seekers of 5,853 per cent, and was
As to public subsidy for broadband, the conclusion to be drawn from the DCMS report, though it may not please some readers, is that it should be heavily tilted towards business premises. The report comes up with a benefit-to-cost ratio per pound of subsidy of £1.18 for residential superfast connections but £12.28 for non-residential. The
All good things must come to an end, including summer holidays and bull markets. The bull run in US shares that began in the aftermath of the financial crisis in March 2009 has now officially passed the previous record of 3,452 more-up-than-down days from October 1990 to March 2000. This time round, the S&P500 index
As I set to compiling your email responses into our ‘broadband dossier’ to send to BT chairman Jan du Plessis, the government issued its own evaluation of the ‘economic impact and public value’ of the superfast broadband roll-out programme launched in 2010. Compiled by outside experts, this document from the Department for Digital, Culture, Media
The award by a Californian court of $289 million in damages to Dewayne Johnson, a groundsman who claimed the weedkiller Roundup caused his cancer, has the makings of what investment pessimists call a ‘black swan’: an unforeseen event with extreme consequences. Roundup is made by Monsanto, the US company that leads the world in genetic modification
This column has consistently stood up for Mike Ashley, even when the lonesome billionaire’s notions of corporate governance at Sports Direct and staff welfare at its Shirebrook warehouse made that a challenging position to sustain — not to mention his troubled ownership of Newcastle United. Ashley has grown his core business over 35 years from
Let’s remind ourselves what we mean by ‘disruptor’. A truly disruptive business revolutionises its marketplace by delivering radical improvements in choice, price and accessibility. A disruptor may be a boffin or a bold lateral thinker: Henry Ford did not invent the motorcar any more than Airbnb invented the ‘homestay’, but both created systems that made
Let’s remind ourselves what we mean by ‘disruptor’. A truly disruptive business revolutionises its marketplace by delivering radical improvements in choice, price and accessibility. A disruptor may be a boffin or a bold lateral thinker: Henry Ford did not invent the motorcar any more than Airbnb invented the ‘homestay’, but both created systems that made
‘There has to be a level playing field so that… Amazon cannot undercut domestic booksellers by using the tax advantage of booking in Luxembourg a sale to a UK customer that is fulfilled from a UK warehouse.’ I wrote that five years ago: since then, no government anywhere has effectively addressed the issue of global
What are we to make of a 19 per cent fall in both Facebook and Twitter shares at the end of last week, with Facebook shedding a barely imaginable $120 billion of value in a single day? Of course there are factors relating to performance: Twitter user numbers have been declining and Facebook’s profitability is
My anecdote last week about upgrading to BT’s ‘superfast’ broadband provoked several readers, unasked, to tell me their own unsatisfactory experiences. So I thought we should compile a Spectator dossier on the subject — as we did to good effect on the issue of high street bank branch closures, on which your combined report reached the desks
Those twice-weekly sales emails from Foxtons that the recent GDPR clean-up has failed to stop have lately been spattered with the words ‘recent price reduction’ in big red capitals. Hence no surprise that the glossy estate agent and bellwether of London residential property has just reported a first-half loss of £2.8 million, compared to £3.8
I bought BT’s offer of an upgrade to ‘superfast’ broadband because the standard service seemed to be deteriorating just as the daily quota of sales calls from India was increasing. But the improvement is barely perceptible. The blue light that tells me the hub is working turns orange to tell me it’s not with irritating
Elon Musk, the California-based entrepreneur behind the Tesla electric car, the SpaceX commercial rocket venture and several other wacky start-ups, made a fool of himself with his attempt to intervene in the Thai cave rescue and subsequent Twitter spat, but there’s no doubt he’s an original thinker and a remarkable businessman. If the futuristic Tesla
When I first visited Canary Wharf in the early 1990s, I was struck by a set of black-and-white posters in the shopping concourse advertising the Co-op Bank’s ethical banking stance: essentially, no lending to arms, tobacco, gambling or oil companies, or to regimes that disrespected human rights. A cynic might have argued that it was
When I first visited Canary Wharf in the early 1990s, I was struck by a set of black-and-white posters in the shopping concourse advertising the Co-op Bank’s ethical banking stance: essentially, no lending to arms, tobacco, gambling or oil companies, or to regimes that disrespected human rights. A cynic might have argued that it was
Bank of England economists Will Holman and Tim Pike claim to have spotted a productivity revival, on the basis of a ‘recent pivot towards business investment to overcome greater labour scarcity’ aided by ‘major advances in technology’. But the Office for National Statistics reports that productivity actually fell by 0.4 per cent in the first
An IT glitch afflicting BP petrol stations for three hours last Sunday evening might not sound like headline news. A ten-hour meltdown of Visa card payment systems in June was a bigger story — as was the notorious TSB computer upgrade cock-up that started on 20 April, which was still afflicting customers a month later