Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
Theresa May has belatedly taken the advice I offered her here last May and named a supremo to tackle the housing crisis — which has been getting steadily worse since her campaign promise to ‘fix the broken market’. But the supremo isn’t Sajid Javid, the Communities Secretary who is, the prime minister says, doing ‘incredible
A mixed bag of annual results from the big banks. RBS, still 73 per cent owned by the taxpayer, recorded a small profit for the first time since 2008 but took flak for a newly released report on the outrageous behaviour of its Global Restructuring Group, the team that mistreated struggling business customers in the
Some time ago I labelled Oxfam ‘the anti-capitalist lobby group which is also a part-time aid charity’: my column has repeatedly highlighted the fact that donors have unknowingly funded a hard-left think-tank (recent publisher of a list of ‘the eight people who own as much wealth as the poorest half of the world’) as well
This week’s funniest parable of capitalism unravelling was the news that KFC had run out of chicken — or at least 550 of its 900 UK outlets had done so. In the way of the modern world, an immediate search began for someone to blame, and the finger of guilt swiftly pointed to DHL, the
The fallout from Carillion’s bankruptcy spreads in slow motion — just as the outsourcing and construction giant’s finances gradually stretched to breaking point over the months before it went down in January. The company’s auditor, KPMG, was rightly under the spotlight this week. But the impact on the ground seems to have been less disruptive
Fake news of the week, I suggest, was the sudden warming of relations on the Korean peninsula following the visit to the Winter Olympics of cute little Kim Yo-jong, sister of North Korea’s nuke-waving Kim Jong-un — not only attracting positive coverage for the games but driving a splinter between South Korea and the US
The Serious Fraud Office has upped the stakes in the case of the controversial $3 billion Qatari financing that saved Barclays from a taxpayer bailout in 2008, by extending the charge of ‘unlawful financial assistance’ to the operating company, Barclays Bank plc, as well as the parent, Barclays plc. Four senior former Barclays employees, including
Regular passengers on the East Coast mainline are inured to change — and baffled as to why this transport artery cannot be run at a steady but modest profit by a private-sector operator. We recall with sadness the demise of GNER, the first post-privatisation franchisee from 1996 to 2007: part of the Sea Containers group
If you were the incoming or retiring chairman of the Federal Reserve, you might be quietly pleased to see stock markets plunge on the day of the handover. As Jerome Powell was sworn in on Monday to succeed Dr Janet Yellen as head of America’s central bank, the Dow Jones index of leading US stocks
Ingvar Kamprad, who died this week aged 91, was a tortured soul but a retail genius. As the founder of Ikea he sold cheap but stylish furniture to millions of what are now called ‘hard-working families’: those who want to improve their homes and make better nests for their children on limited budgets. Though his
I visited St Thomas’ Hospital on Monday, to discuss fundraising for a cardiology research project. On the way in, I spotted an acquaintance taking her little boy for tests; she was busy explaining why the doctors needed to do what they were about to do, so I didn’t interrupt. I also spotted a block on
This is an extract from Martin Vander Weyer’s ‘Any other business’ column, in this week’s Spectator. In a week that felt rather starved of exciting business stories — the fat cats were evidently too busy packing for Davos — an unknown called Stapleton Capital, previously described as a telecoms investor, notched up a brief 130
This column has long been a sucker for a grand projet. ‘Time for a trip to Boris Island,’ I gushed in 2010 when London’s then mayor came up with his much-mocked (though in engineering terms not unfeasible) wheeze to shift Heathrow to a giant man-made landing strip in the Thames estuary. But even I could
This is an extract from Martin Vander Weyer’s ‘Any other business’ column in this week’s Spectator. Carillion is a disaster on all fronts, but my sympathies go first to the fallen contracting giant’s sub–contractors. Upwards of 30,000 smaller firms were already facing 120-day payment delays and may now have to fight court battles to get
Carillion is a disaster on all fronts, but my sympathies go first to the fallen contracting giant’s sub–contractors. Upwards of 30,000 smaller firms were already facing 120-day payment delays and may now have to fight court battles to get paid at all, driving many hard-pressed entrepreneurs to bankruptcy. But the political spotlight won’t help them,
The farming community was hoping, until a few days ago, that Michael Gove might be moved to pastures new in the reshuffle that hardly happened on Monday. One Yorkshire neighbour of mine with a big muckspreader used to refer to the secretary of state for environment, food and rural affairs as ‘the Grim Reaper’. But
I once commissioned Michael Wolff —currently the world’s most talked-about journalist as the author of the White House exposé Fire and Fury — to write for The Spectator. It was just before the 2004 presidential election in which Republican incumbent George W. Bush looked set to see off the Democrat challenger John Kerry, and I
During the long interval since our pre-Christmas issue, Bitcoin has continued to generate crazy headlines — and crazy profits for those smart enough to sell at the peaks. The price tumbled from above $19,000 to below $13,000 but it did not crash out of sight, as sceptics continue to predict. Meanwhile, from Japan we hear
Over Christmas, Bitcoin has continued to generate crazy headlines — and crazy profits for those smart enough to sell at the peaks. The price tumbled from above $19,000 to below $13,000 but it did not crash out of sight, as sceptics continue to predict. Meanwhile, from Japan we hear that the ‘wealth effect’ of a
New Year’s Eve was certainly a day for celebration in the household of 53-year-old Jeff Fairburn, chief executive of the housebuilder Persimmon. He was due to receive the first £50 million tranche of shares under a bonus scheme that has won him total entitlements of £110 million. He must have done a terrific job, you’ll be