Autumn Statement 2014: There’s only one thing on George Osborne’s mind – Editor’s Letter December 3, 2014 George Osborne is the consummate tactician. With 153 days to go to the election, there’s only one thing on his mind, and that’s how to breeze past opposition parties on the journey back to Downing Street. And who can blame him? After all, he’s the one who has kept the economy on the road and [...]
Time to give thanks for Black Friday – Editor’s Letter November 27, 2014 This week, one American seasonal tradition is on everyone’s lips: Black Friday. Today is the day when US retailers kick off the pre-Christmas rush with a slew of discounts, and their finances are said to move back into the black as a result. This year, Brits are promised our own welter of price cuts. But [...]
Too soon to write off Aviva’s £5.6bn bid for Friends Life – Editor’s Letter November 26, 2014 Aviva’s New Zealand-born chief executive Mark Wilson comes from a family of insurance people and has been an investor in insurance companies since he was 15. Maybe it’s that pedigree that gives him the confidence to press ahead with a strategy that is being doubted by many experts. When he first came into Aviva, he [...]
Aviva has some work to do to finalise deal – Editor’s Letter November 23, 2014 Panmure Gordon, the independent stockbroking firm, made a name for itself last year when one of its analysts calculated the government was planning to sell the Royal Mail at £1bn less than what the firm thought it was worth. Subsequent events showed Panmure had been right to be bullish on the firm’s valuation, at least [...]
The Marvel of success without a plan – Editor’s Letter November 20, 2014 WHAM! Pow! There’s been a comic book intensity to the battle of business this week, with transport app Uber drawn as the villain after unscripted swings at journalists it felt had the disruptive tech firm in their sights. But right now I’m seeing everything in four-colour terms, having just finished Sean Howe’s terrific history of [...]
Change is needed in the IPO market – Editor’s Letter November 18, 2014 As the recent flotation of Virgin Money proved, albeit after a false start, London’s window for new issues (or Initial Public Offerings, IPOs) isn’t absolutely closed, as it was a couple of years ago. But, after a stunning year, it’s damned close to it. There have been 121 IPOs in London and in general those [...]
2014 City A.M. awards: It’s always good to toast the best of the City – Editor’s Letter November 13, 2014 In a matter of weeks, during the first few days of January, I will be calling people to invite them to next year’s City A.M. awards. The event, the latest of which was held last night, has become a fixture in the City calendar and has grown in stature since its inception. Last night, [...]
Remembrance day 2014: Remembering the gift of the fallen – Editor’s Letter November 6, 2014 Around the Tower, the poppies flow, recalling crosses, row on row… In this anniversary year, as the nation recalls the outbreak of the First World War, the City has become a focus of remembrance thanks to the remarkable installation Blood Swept Lands and Seas of Red at the Tower of London, made up of 888,246 [...]
Time to take Stock of the IPO market – Editor’s Letter November 5, 2014 Those hoping the resurrection of the Virgin Money flotation might lead London’s initial public offering (IPO) markets into an end-of-year revival should take a read of yesterday’s statement from Stock Spirits Group, the Polish vodka maker that floated in London just over a year ago. Shares in Stock Spirits yesterday tumbled more than 25 per [...]
Business is on the side of open minds – Editor’s Letter October 30, 2014 IT IS great news that Tim Cook has chosen to declare that he is proud to be gay. Unfair discrimination is abhorrent, and such high-profile statements can only help to end any lingering sense that public homosexuality is incompatible with a senior position in business life. At the same time, we should not be surprised [...]