Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
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
Last Christmas I offered you a cruel satire about a boardroom big-shot whose career went so awry that he ended up as a pantomime dame. So perhaps there’s justice in the fact that this year, that’s what’s happened to me. Instead of schmoozing the City’s festive party round, I’m cross–dressing nightly on a Yorkshire stage
And so to my annual awards. Best business recovery of 2017: Lloyds Banking Group, which returned from the bailout sin-bin to full membership of the private sector in May. The year’s most lamented collapse: the upmarket Swan Hellenic cruise line in January. And the least lamented? The devil’s own PR firm, Bell Pottinger, in September.
Last Christmas I offered you a cruel satire about a boardroom big-shot whose career went so awry that he ended up as a pantomime dame. So perhaps there’s justice in the fact that this year, that’s what’s happened to me. Instead of schmoozing the City’s festive party round, I’m cross–dressing nightly on a Yorkshire stage
This is an excerpt from Martin Vander Weyer’s ‘Any Other Business’ column. I don’t know which is more worrying: that the bitcoin market becomes madder by the day, or that it becomes more mainstream. The market price of a unit of the cryptocurrency has spiked above $11,800, up from $750 a year ago, for no
The revenge tragedy at the London Stock Exchange whose plot I outlined last month has reached its third act, but the carnage may not be over. Chief executive Xavier Rolet has left the building, rather than staying one more year as the LSE first announced, and declared that he won’t come back under any circumstances.
One week you’re fighting to survive the dance-off amid vicious backstage rivalries, the next you’re scoring a perfect ten from Bruno Tonioli for your shimmering tango. As it was on Strictly for Debbie McGee, so it was — well, almost — for Philip Hammond at the despatch box. Unlike many of the Budgets of his
Now the hubbub has subsided after last week’s sale of Leonardo’s ‘Salvator Mundi’ at Christie’s New York for $450 million, we can assess whether the record-shattering price was an indicator of an impending turn in the boom-bust cycle or merely an extreme example of art market operators conspiring to ease the burden of the super-rich.
The Chancellor sounded purposeful when he declared that he’ll do ‘whatever it takes’ to boost the rate of housebuilding — including pushing developers and councils to use up land banks and act on existing planning permissions — with a view to hitting a politically symbolic target of 300,000 units per year. But I wonder whether
Numerous readers told me they liked my recent tale — offered as an antidote to ‘media sniping at corporate capitalism’ — about the temporary school built by Porta-kabin after the Grenfell Tower fire. I’m on the lookout for other business stories that celebrate the positive, and I had it in mind to write about an
What would a perfect tax system look like? For companies, profit taxes should be competitively low, to encourage inward investment, with generous reliefs for start-ups, research and capital projects; the corporate tax code should be designed to generate rising productivity and prosperity rather than to maximise short-term tax revenues, and companies should acknowledge a duty
Perhaps we should be relieved that Donald Trump has made a dull appointment to succeed Janet Yellen as chairman of the Federal Reserve, America’s central bank. He might have picked another alt-right wacko or Kremlin stooge — or his Las Vegas buddy Phil Ruffin, the casino owner he allegedly thought of sending as envoy to
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,
