Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
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
Sir David Tang, who died last week aged 63, was once The Spectator’s distributor in Hong Kong. His special achievement in his later entrepreneurial career was to turn his own stylish tastes in clothes, restaurants, clubs and cigars into a highly personal international brand, and to make it all look like great fun. In many ways
Arguably it was Robert Peston’s breathless reporting of trouble at Northern Rock on the evening of 13 September 2007 that kicked off the crisis. The next morning, depositors were queuing round the block and the drama that would almost bring down the global banking system a year later had begun. Looking back after a decade,
Arguably it was Robert Peston’s breathless reporting of trouble at Northern Rock on the evening of 13 September 2007 that kicked off the crisis. The next morning, depositors were queuing round the block and the drama that would almost bring down the global banking system a year later had begun. Looking back after a decade,
In Houston last November I spent an evening at the city’s industrial-scale food bank, where I heard a presentation on the Houstonian tradition of offering hospitality to refugees, including 200,000 displaced from New Orleans by Hurricane Katrina. We were also given some positive spin on the strength of co-operation, in time of crisis, between the
Removing all trade and tariff barriers as part of a hard Brexit would generate ‘a £135 billion annual boost to the UK economy’, according to Professor Patrick Minford on behalf of Economists for Free Trade — while those who claim his ideas spell economic suicide are ‘hired hands, they work for government, they work for
The proposed marriage of two mid-sized wealth managers, Rathbone Brothers and Smith & Williamson, has not made City pulses race. But it will create a business with £56 billion under management, following a trend of sector consolidation in search of economies of scale that kicked off with the merger of Standard Life and Aberdeen Asset
Removing all trade and tariff barriers as part of a hard Brexit would generate ‘a £135 billion annual boost to the UK economy’, according to Professor Patrick Minford on behalf of Economists for Free Trade — while those who claim his ideas spell economic suicide are ‘hired hands, they work for government, they work for
The core consumer price index of inflation held unexpectedly steady at 2.6 per cent in July, further removing any possibility of an interest-rate rise this year. So what’s the downside? My eye is drawn to a bulletin from Nationwide, the UK’s most sensible mortgage lender. It reports a fall in quarterly profits after a rise
I can’t work up much indignation at the collapse of London’s Garden Bridge project, which has been strangled by the refusal of mayor Sadiq Khan to guarantee its continuing operational and maintenance costs — assuming its trustees, led by former banker and minister Lord Davies of Abersoch, would have succeeded in raising the £150 million
I can’t work up much indignation at the collapse of London’s Garden Bridge project, which has been strangled by the refusal of mayor Sadiq Khan to guarantee its continuing operational and maintenance costs — assuming its trustees, led by former banker and minister Lord Davies of Abersoch, would have succeeded in raising the £150 million
In a quiet season for business news, the giant cesspit that is the world of elite football can be relied upon to provide a money story with a pungent whiff to it. I refer to the transfer of the 25-year-old Brazilian known only as Neymar from Barcelona to Paris St Germain for a world-record fee
As usual for August, I’m in France, where the news in brief is ‘Euro up, Macron down’. The youthful French president, who swept to power with two-thirds of the second round vote in May, has seen his approval rating plunge to 36 per cent — at the time of writing, 2 per cent worse than
There has just been a rather meaningless debate about whether Jeff Bezos of Amazon or Bill Gates of Microsoft should be labelled ‘the richest man in the world’. Both are notionally worth more than $90 billion, although Bezos was briefly ahead by a nose after a surge in the value of his Amazon shares. It
The question of what kind of border after Brexit will exist between Northern Ireland and the Republic will, I predict, become a very thorny one indeed as negotiations crawl into the autumn. Talk of ‘putting the border in the Irish Sea’ — somehow leaving the north inside the EU for customs and immigration purposes, but
The question of what kind of border after Brexit will exist between Northern Ireland and the Republic will, I predict, become a very thorny one indeed as negotiations crawl into the autumn. Talk of ‘putting the border in the Irish Sea’ — somehow leaving the north inside the EU for customs and immigration purposes, but
What with yet another warning from the Bank of England this week about rising consumer debt, and my own prediction that we’re heading for an economic trough within 18 months, this doesn’t feel like a good time to be paying top dollar for luxury brands. When Jimmy Choo, the maker of super-expensive strappy stilettos, was
It came as no great surprise to learn that the EU competition authorities are crawling all over the three major -German car-makers, Volkswagen, BMW and Daimler, to investigate collusion via ‘secret technology working groups’ dating back to the 1990s. The most damaging allegation — reported by Der Speigel — is that the three groups colluded
I’m a huge fan of Game of Thrones, the epic television drama that has returned for a seventh season. This is a show that offers wisdom as well as bloody excitement — and parables for the Conservative leadership struggle, though I hope we’ll never have to watch Theresa May emulate Cersei Lannister’s naked walk of shame. It’s
Now here’s a tricky question. The world’s largest oil company, potentially worth six times as much as ExxonMobil and ten times as much as Royal Dutch Shell, wants to list its shares on a major stock exchange next year, and has indicated that the choice is between London and New York. The company’s initial public
