Changeover day at the Bank of England a year ago, when Andrew Bailey succeeded Mark Carney as governor, was marked by a sudden dash for cash in the biggest test for market resilience for a decade. Tensions may have subsided, but the tasks for Bailey do not get easier. At this week’s meeting of the … Read more
ALEX BRUMMER: Talking trade rather than putting up barriers can have enormous benefits By Alex Brummer for the Daily Mail Published: 22:13 GMT, 12 March 2021 | Updated: 22:13 GMT, 12 March 2021 Many moons have passed since anyone paid any attention to the UK’s monthly trade figures. These days it is gross domestic product, … Read more
Shopping in La-La land: High Streets will look very different after Britain escapes the pandemic, says ALEX BRUMMER By Alex Brummer for the Daily Mail Published: 21:50 GMT, 10 March 2021 | Updated: 21:50 GMT, 10 March 2021 The last time Marks & Spencer proposed knocking down its flagship store at Marble Arch on London’s … Read more
When Philip Jansen was signed up as chief executive of BT in October 2018, there was optimism that he was what was needed. Jansen had a strong record in technology transformation at Worldpay and brought a hard-nosed private equity background to the scene. He made all the right noises about speeding up the roll out of … Read more
The fall into insolvency of London-based Greensill Capital provides an object lesson in how hype overcomes judgment. The spread-out structure, with a registered office in Queensland, headquarters in London and ownership of a bank in Germany makes for regulatory chaos. The most recent accounts, filed at Companies House on January 31, 2020, pose more questions … Read more
ALEX BRUMMER: Important strand of the Greensill implosion is how group’s founder was able to establish a foothold at the heart of the Government By Alex Brummer for the Daily Mail Published: 21:51 GMT, 5 March 2021 | Updated: 21:51 GMT, 5 March 2021 The narrative surrounding the implosion at the Aussie-domiciled supply chain finance … Read more
We don’t associate government initiatives on the City with speed, as anyone who has followed the audit reform saga would testify. So it is terrific to see Deliveroo unveil its intention to float in London just hours after Rishi Sunak’s budget. The report by Lord Hill on bringing tech-based initial public offerings to the London … Read more
The most startling number in the Budget is tucked away at the back of the Red Book. It reveals that, in the current fiscal year, which ends on April 5, the Government had to raise £483.5billion, a sum representing almost a quarter of national output. Next year it has to find a further £297.7billion. That … Read more
ALEX BRUMMER: The figures are frightening… God help us if interest rates go up By Alex Brummer for the Daily Mail Published: 22:16 GMT, 3 March 2021 | Updated: 22:17 GMT, 3 March 2021 Never in peacetime has a Chancellor of any political hue lavished sums so generously as Rishi Sunak to preserve jobs and … Read more
Crisis with past echoes: Greensill’s operation was not that different to the slicing of sub-prime mortgages, says ALEX BRUMMER By Alex Brummer for the Daily Mail Published: 22:16 GMT, 2 March 2021 | Updated: 22:44 GMT, 2 March 2021 The collapse into insolvency protection of Australian lender Greensill Capital, which conducts most of its business … Read more