Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
Many thanks to the stampede of readers who sent news of bank branch closures. There’s certainly a national pattern, and possibly an epidemic, with HSBC, NatWest, Clydesdale and Yorkshire Bank closing outlets as fast as they can, and only the Nationwide building society making a virtue of offering an undiminished service. Counter staff still in
Almost a decade after the financial crisis loomed, our high streets and town centres are full of life again: who ever thought consumers could sustain so many cafés, bakeries and nail bars? But the revival is being undermined by yet another wave of bank branch closures, leaving small businesses adrift and personal customers at the
President Donald Trump is demolishing his predecessor’s legacy as fast as he can sign executive orders, but one thing for which the Obama administration will be remembered is its zest for imposing fines on UK and European banks. In a flurry of Department of Justice activity ahead of the transfer of power, Deutsche Bank agreed
President Donald Trump is demolishing his predecessor’s legacy as fast as he can sign executive orders, but one thing for which the Obama administration will be remembered is its zest for imposing fines on UK and European banks. In a flurry of Department of Justice activity ahead of the transfer of power, Deutsche Bank agreed
President Trump’s inaugural rant prompted me to reread Let America Be America Again by the black poet Langston Hughes, who is said to have been an inspiration to Martin Luther King. Writing in 1936, Hughes spoke for the immigrant and ‘the poor white, fooled and pushed apart’ as well as his own people, ‘the Negro
The Prime Minister’s heralded ‘industrial strategy’ was robbed of headlines by the story of the misguided Trident missile. But it was perhaps as well that the 132-page green paper — with its ‘ten pillars’ of platitude about ‘delivering affordable energy and clean growth’, ‘improving procurement’ and all the rest — garnered so little attention, because
I’ve objected before to the fact that supporters of Oxfam shops are unknowingly funding not only an aid charity but also a left-wing thinktank that promotes its beliefs with considerably more zest and clout than Jeremy Corbyn does. Its latest paper, An Economy for the 99%, issued to coincide with the gathering of the global
From supermarkets to superyacht builders, sales figures are remarkably buoyant: consumer debt may be rising too, but no one can say the New Year economic mood is markedly downbeat. This column feels obliged to find something on the horizon to worry about, however, and my telescope is focused on inflation. If deflation was a real
The FTSE 100 ended the year strong, at 7142, and reopened even stronger. For 2016 overall the index gained 14 per cent, with multinational mining giants as top performers, while the pound lost 16.5 per cent against the dollar — those facts being closely related, since they mean London blue-chips are still cheaper in dollars
The headline business story of the holiday season was the latest bailout of Banca Monte dei Paschi di Siena. This is Italy’s third largest bank and, according to recent ECB ‘stress tests’, Europe’s weakest — regarded by pessimists both as a potential catalyst for systemic collapse and a symptom of deeper Italian problems that could
Most of my predictions for 2016 were wrong; so let’s not revisit them. But I was right, in January, to identify as a theme of the coming year an evident gulf between ‘the reinvigorated and the demoralised’. In small business sectors and provincial towns, as well as in the attitudes of millions of citizen voters
Many (well, several) of you asked me what happened to George, the supermarket chairman who was the anti-hero of my Christmas fable last year. So I tracked him down, somewhere in the provinces, to bring you another episode… ‘Five minutes, Sir George,’ said a young man in black. ‘New boobs OK?’ George nodded, adjusted his
Many (well, several) of you asked me what happened to George, the supermarket chairman who was the anti-hero of my Christmas fable last year. So I tracked him down, somewhere in the provinces, to bring you another episode… ‘Five minutes, Sir George,’ said a young man in black. ‘New boobs OK?’ George nodded, adjusted his
‘We’re going to have not just consumers represented on company boards, but workers as well,’ Theresa May declared in July. ‘I can categorically tell you that this is not about… the direct appointment of workers or trade union representatives on boards,’ she corrected herself in her CBI speech last month. ‘It will be a question
‘We’re going to have not just consumers represented on company boards, but workers as well,’ Theresa May declared in July. ‘I can categorically tell you that this is not about… the direct appointment of workers or trade union representatives on boards,’ she corrected herself in her CBI speech last month. ‘It will be a question
Here’s a pre-Christmas party game. Each player comes up with a word to fill the blank in ‘If Brexit was a …, which one would it be?’, and everyone else has to come up with witty answers. If the word is ‘film’, for example, obvious answers are Independence Day or Death Wish, according to taste,
We’ve all had those moments when the electrician prods a wobbly plug-socket, sucks his teeth and says, ‘Lucky this old wiring hasn’t burned your house down, mate.’ But still, £369 million sounds a big estimate for sorting out Buckingham Palace over the next ten years — unless you recognise that the mansion at the end
Theresa May likes to give a kitten-heeled kicking to conference audiences, even when they are police officers or her own party delegates. But at the CBI gathering at Grosvenor House in London on Monday, she was out to make friends with soothing (if essentially hollow) remarks about Brexit, and promises of the lowest corporate tax
Theresa May likes to give a kitten-heeled kicking to conference audiences, even when they are police officers or her own party delegates. But at the CBI gathering at Grosvenor House in London on Monday, she was out to make friends with soothing (if essentially hollow) remarks about Brexit, and promises of the lowest corporate tax
It’s rare for me to celebrate anyone’s financial misfortune, but if Leonard Cohen had not lost $5 million of his retirement savings due to alleged fiddling by his former manager, he might not have re-embarked on recording and touring in his seventies, and we would have heard much less of that uniquely stirring voice in
