The tectonic plates of economic power are being moved by the crypto kings Tom Tugendhat Sanctions have shown the power of the people who control cash. Oligarchs counting their dollars today have realised that their money is more than just a currency, it’s an operating system. In the past month, the US Treasury, which issues the American notes and regulates the accounts that trade them, has removed the operating licence [...]
Abramovich’s toxic Chelsea FC legacy must make us rethink ownership in our communities TOM TUGENDHAT Chelsea football club is in limbo. It can’t sell tickets or shirts, it can’t even renew contracts. This is a London cup-winning team that has been sent to Coventry and has no idea how long it will stay cut off. Dozens of players, thousands of employees and millions of fans are all now suffering for [...]
As Russia triggers needless tragedy, we need to defend our global stability Tom Tugendhat The lives lost so far in Putin’s pointless and tragic war are a terrible price for Ukraine, and innocent Russians. But the collateral damage of a land war in Europe will soon begin to spread far beyond razed Ukrainian villages and the flattened streets of Kharkiv. War costs billions every day. And the response – [...]
We must end our dependency on Russia’s gas and embrace renewable opportunities February 18, 2022 Our energy bills are up by 54 per cent this year. It’s not just gas – the cost of fuel, food, and furniture is ticking up too. The Bank of England now expects inflation to surge past 7 per cent by the end of this year. That’s going to price many of us out of [...]
London’s status as a safe haven for dirty foreign money relies on our own complicity February 4, 2022 For a decade, Zamira Hajiyeva, the wife of a jailed Azerbaijani banker, spent an average of £4,000 a day in Harrods. It was only in 2019 that the law finally caught up with her £16m Harrods bill. Her unexplained wealth – including a £12m Knightsbridge house – are set to be seized. Hajiyeva is a [...]
As Moscow muscles in on Ukraine, Russian money still poisons our shores January 28, 2022 It is on the borders that you see the threads coming apart. In Ukraine and Bosnia the danger unravelling in Europe feels urgent as agreements that have kept us safe and peaceful are being challenged. With 100,000 Russian troops massed on the border it’s easy to focus on them, but it’s not just tanks that [...]
Try, try and try again is the mantra when solving business and political dilemmas January 7, 2022 In 2003, start-up fever on the West Coast of the US was like a new Gold Rush. Investors chasing ideas were throwing money in the hope of magical returns. Part of this rush was based on faith and some of the investors believed tall tales when they should have dug harder to find gold. That [...]
Without securing our trust, public and private leaders will fail our economy December 10, 2021 As we head into winter, with the prospect of more restrictions at a time when trust seems to be in freefall, we have all been reflecting on how this is going to impact our communities and how we can use the opportunity to make the economy work better for all. The first few months of [...]
The boring predictability of our rule of law will ensure Britain’s success November 26, 2021 Power doesn’t disappear overnight. In the immortal words of Paul Simon, it slip slides away. In Helmand, Afghanistan I realised things were falling apart when people stopped coming to the government to resolve disputes. They turned to the Taliban instead. That was 15 years before the end. Subtly, almost unnoticed, here was proof that people [...]
Britain’s social insurance is built on harmonious state, private and charity ties November 12, 2021 Every year, when the clock strikes 11 o’clock on November 11, we come together to remember. It is a reminder of friends and times past. But it is also a reminder that communities standing together can make a difference to the lives of many. The Royal British Legion was set up in the aftermath of [...]
