Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’
From our UK edition
There won’t be any fireworks. No one is blowing up the balloons, and there isn’t going to be a cake. The first anniversary of Liz Truss’s unfortunate and quickly terminated premiership today won’t be marked by anything other than a few snarky comments on the site formerly known as Twitter. And yet, as the tumultuous
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The latest headmaster of Eton has been recruited from a major private equity firm to help drive the brand’s growth in China. The consortium of hedge funds that own Winchester has been involved in a bitter takeover battle with Rugby, centred mainly on the redevelopment value of its playing fields. Westminster has been acquired by
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The trade secretary Kemi Badenoch will be in India this week for a meeting of G20 trade ministers. The Prime Minister Rishi Sunak will be visiting the country in September. With so many ministers on hand, it might seem the perfect moment to unveil the long-awaited UK-India trade deal. After all, the former PM Boris
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Over mighty trade unions. Short-termist management that prioritises profits over investment. And an education system that doesn’t produce enough scientists or engineers. There have been many different versions of the ‘British disease’ over the years to explain the consistent under-performance of our economy compared to some of our main rivals. But right now there is
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It will be harder to pick up a last-minute light bulb. You might have to rely on Amazon Prime for a quick delivery of new tea towels. And your local shopping centre will look even more dismally empty than it already does. There will, in fairness, be some disadvantages to the hardware chain Wilko disappearing.
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Small companies will face massive fines for not checking the papers of everyone they hire. Landlords will be put out of business for renting rooms to anyone without permission to be in the UK. With its Rwanda policy stalled, and with the numbers of illegal immigrants still at record highs, the government has a big
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Over-50s could deliver pizza. They could try their hand at Uber driving. Or they could put in the occasional shift at the Amazon warehouse. Mel Stride, the work and pensions secretary, won’t have done his political career any favours this week with his suggestion that retired people who are struggling to make ends meet could
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In the end, the only real surprise was that it took so long. The chief executive of NatWest, Dame Alison Rose, had already been forced to step down after it became clear she had leaked confidential information about Nigel Farage’s personal financial affairs to the BBC. The board has been under sustained pressure all week.
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There are probably worse things a senior banker could do. Taking all the money and running off to the Bahamas, or rescuing Credit Suisse, for example. But leaking confidential information about a client to the BBC is right up there with the worst sins imaginable. After it became clear that the NatWest boss Alison Rose
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It will trash the brand. It will alienate its core users. And relaunching and rebranding a failing business almost never works. As Elon Musk drops the Twitter blue bird and swaps it for an X, we will hear plenty of arguments about why the world’s second richest man has made another critical commercial mistake. In
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Ministers should be hailing it as a major vote of confidence in the economy. King Charles should be clearing his diary to make sure he is available for the opening ceremony. And the broadcasters should be leading the news with it. In normal circumstances, you might expect the announcement that two major global corporations will
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There will be some tweaks to the way that pension funds are allowed to invest their money. There will be some modest rewriting of EU rules on the way investment banks can provide analysis of company performance. And there will be some reduction in the big bundles of paper a company needs to issue before
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We will need tighter regulation. We will need new laws and controls. And we will have to organise boycotts of advertisers to bring it into line. Ever since Elon Musk took over Twitter, and started to try and make the liberal-left’s favourite mouthpiece slightly more balanced, not to mention slightly more profitable, there have been
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Millions of potential voters in marginal constituencies face punishing rises in their mortgage repayments over the coming months and years. The government is in disarray on the issue and is largely to blame for the mess. Labour has spied an opportunity to hammer the Conservatives: it is talking about a ‘Tory mortgage penalty’ and shadow
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Tax rises would bring debts under control. The Bank of England would bring inflation back down again. The government would steadily win back the confidence of the financial markets, repair relations with the EU, remove some of the obstacles to growth and, once all that was in place, try and cut a minor tax or
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It will create lots of well-paid jobs, especially in Scotland. It will reduce our electricity bills. And it will make sure the lights can still be switched on regardless of what is happening in the rest of the world. Labour leader Sir Keir Starmer has made a big pitch today for ‘energy security’, promising to
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The waiters can sometimes be a little surly. That holiday villa you booked in the Loire may not always be as desirable as it looked in the pictures. And you can never be entirely sure which side they will be on in a major war. Still, despite occasional inconsistencies, there is one thing you could
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There are plenty of reasons for viewing today’s huge merger deal between the UK mobile networks of Vodafone and Three with suspicion. It could reduce choice for consumers. It may lead to job losses. And it is possible that they will downgrade their service even more than they already have, cut back on investment, and
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Sometimes it helps to have a banker as Prime Minister. They have plenty of faults. They can be dry, calculating, and they are typically far too rich to connect with ordinary people. But if they have one thing going for them it is this: they can spot free money when they see it. And Rishi
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A frantic round of last-minute lobbying is already underway. Officials are trying to stitch together a deal. And the Prime Minister Rishi Sunak is pushing hard to find a compromise that works for both sides. There are lots of negotiations over ‘rules of origin’ for electric vehicles that will allow Vauxhall to keep its plants
