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10 The Sunday Times September 1, 2019 BUSINESS Andrew Lynch LETTERS Direct Line’s culture and how Send your letters, including deals, do due diligence and our twilight years and looking Caring puts off post-nuptials bash Come, Geddes, to improve collaboration. SIGNALS full name and address, recommend investments. to downsize? Awkwardly, it turned out AND NOISE . to: The Sunday Times, The buck stops with him, of As life moves on and we Is there trouble in paradise However, an email from reign on Slough to be Geddes who didn’t 1 London Bridge Street, course, but I suspect many become households of one, for Richard Caring, the the couple that recently A heads-up to new always value collaboration London SE1 9GF. Or email people have let him down. the size of our homes is not so luxuriantly coiffed owner of landed in guests’ inboxes colleagues of Paul Geddes, among his senior team. [email protected] Woodford placed bets on important. Living closer to Mayfair nightspots such as suggests all is not well. the fiddle-playing former Good luck, Paul, and not Letters may be edited certain markets and amenities, our family and Annabel’s and Harry’s Bar? “Patricia and I are so very boss of FTSE 100 insurer just to your new colleagues. segments and they haven’t public transport moves to the The former rag trader sorry to inform you that due Direct Line. A conflict of interest for delivered — yet. To be top of the list. announced his engagement to circumstances beyond our Tomorrow, Geddes rolls the new CBI chief? castigated for investment in If Mr Javid did switch to Patricia Mondinni, a control (including the up at QA — no, we hadn’t Is Roger making Lord Bilimoria, a supplier of Eddie Stobart beggars belief, stamp duty to sellers — a plan Brazilian model half his age, changing weather patterns either, it’s something to do beer to Indian restaurants, because, given half a chance, he later denied — I could be with a lavish party featuring around the world), we have with education — for his first plans for Nigel? says they have difficulty all of us “investors” would looking at an additional cost the Latino singer Ricky been forced to delay our day as chief executive of the If the engineer Meggitt lands bringing in chefs from abroad probably have done the same of £10,000 when I move. Martin in December 2017. ‘Dominican Republic CVC private equity-owned in the FTSE 100, I suspect (“New CBI boss urges due diligence and bought in. How is that fair? They wed the following Celebration’,” wrote business in Slough. nobody will be happier than ministers to relax migrant As Luke Johnson said in As a woman born in 1954, March, and were planning Caring, 71. Earlier this year, Geddes, chairman Sir Nigel Rudd. pay rules”, last week). There one of his columns, “there’s I’m already being penalised: another extravaganza to “We look forward to 50, gave a frank interview to And an old mucker of the have been thousands of no disgrace for entrepreneurs I won’t receive my state mark their nuptials over four celebrating with you next the Chartered Management 72-year-old will surely be Indian restaurants in this in honest failure”. Similarly, pension until nine months days in the Dominican year, in what will now be an Institute about the time he ready to congratulate him The former prime minister country for many years. Do there is no disgrace in an after my 65th birthday Republic this November. even more spectacular commissioned a study into with a blue-chip welcome. David Cameron has united they have no training investor failing to deliver the because of changes made by fashion. New details will be Sir Roger Carr, chairman the nation on one issue — a schemes or apprenticeships? returns expected by clients. a previous cabinet. sent out in the very near of BAE Systems, who turned passion for souped-up Is this a clear case of a conflict Investors often want to pin Perhaps Mr Javid would JUST SAYING . future and we are working FUNNY BUSINESS around ailing companies shepherd’s huts of interest for the incoming the blame on one person like to consider a reduction hard to make them as with Rudd and Brian president of the CBI? when, in fact, myriad things in the stamp duty to actually compatible as possible.” McGowan at Williams in the HOME, PAGES 16-17 On the wider issue, this have conspired to make encourage downsizing. Some people Was global warming really 1980s and 1990s, has no illustrates one of the companies and/or funds Shelley Gorys, Medstead, to blame — or might there doubt been planning the problems of immigration: underperform. I look forward Hampshire think greed is have been a squall a little party for some time! TWITTER POLL some employers prefer to to the time when Mr good. But over closer to home? bring in immigrants rather Woodford tells why things Better the EU than distant Mondinni, 37, for whom Yes No than reduce unemployment didn’t go to plan this time. We control of our companies and over it’s Caring left his wife of 45 Surf’s up for by training British citizens. will all learn from that lesson. As last week’s article “Britain years in 2016, is known to Ian Snowden, Clitheroe, Alastair Waite, Osmotherley, for sale” said, Brexit was proven that, be somewhat demanding — ousted Flint 65% 35% Lancashire North Yorkshire billed as taking back control — ultimately, she once ordered the crew Days after his unexpected not handing over our public of his yacht, Silver Angel, to ousting, John Flint, 51, the Woodford has been let Downsizers could do with companies to foreign buyers generosity protect her from mosquitoes caring-and-sharing HSBC down, as well as investors help from the chancellor and private equity barons. with flyswatters during a trip chief, hit the Aegean. I feel for Neil Woodford, as I Sajid Javid recently said, What is the point of is better to the Maldives. The banker, family in tow, did for Luke Johnson when he when discussing potential recovering a nominal The Carings are said to was spotted having breakfast had his “issues” (“Woodford’s changes to stamp duty, that “sovereignty” from have burnt through several at the posh Sani Resort in worthless tech bets”, last he is a “low-tax guy”, and was regulation by our European party planners in the course Halkidiki, northern Greece. Was Bank of England week). The fund manager reported to be considering neighbours, but transferring of their Dominican Republic My man in the knotted governor Mark Carney made a lot of money in the making the seller pay rather our industries to ownership, preparations. handkerchief and rolled-up wrong to keep secret a past for many people. He than the buyer. It is control and disposal by Let’s hope there is one left trousers could not say if Flint meeting with Facebook decided to strike out on his admirable that the chancellor distant financiers and Paul Polman, former chief by the time next year’s bash achieved his long-held founder Mark Zuckerberg? own, probably recruiting a lot wants to help first-time governments? executive of Unilever finally arrives. ambition to learn to surf. @ST_Business of the same people he had buyers, but how about those David Ashton, Sheringham, trusted previously to find of us who are approaching Norfolk DATABANK INSIDE THE CITY BEN WOODS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 FTSE 100 DOLLAR favour of subscriptions to to July, while New Zealand’s USD > GBP 2.1% 2.0% Sage sees products in the cloud. The Xero was up 36% to NZ$552m 7,800 CPI including housing current rate prev. month pace of change, however, has for the year to March. Xero’s $1.22 2.0% 1.9% tested investors’ patience. UK customer base also grew V 0.01 its sales Shares in the FTSE 100 by 48% to 463,000 over the 7,400 12-month high: $1.34 Retail prices index current rate prev. month low: $1.20 company are down 14% to period. Sage’s organic sales 2.8% 2.9% EURO evaporate 700p since July, when an growth remains in single 7,207.18 Average weekly earnings on prev. month on last year update revealed that software digits: up 6% to £1.4bn for the 112.20 H:7,727.5 7,000 EUR > GBP sales had fallen 16% to £195m nine months to June and 7% 1.58% L:6,536.5 £538 U0.3% U3.6% into cloud in the nine months to June. to £1.8bn last year. 6,600 €1.11 Unemployment current rate prev. month Sage has made progress There are also questions FTSE 250 W 0.00 2018 2019 12-month high: €1.18 1.33m 3.9% 3.8% As he waxed nostalgic about under Steve Hare. The same over whether that growth can low: €1.07 Source: Reinitiv Manufacturing output on the year on last month his turnaround of American update showed that software be sustained. Sage was YEN tech giant IBM in the 1990s, subscriptions had grown by handed a one-off bump this RISERS FALLERS Intu: 40.8p U 16.9% on higher rent Amigo: 79.6p V 51.6% on new loans YEN > USD 0% U1.4% Lou Gerstner reflected on 28% to £752m over the same year when an influx of hopes NMC Health: £25.02 U 16% on warning Micro Focus: £11.09 V 29.3% Retail sales on the year on last month why some companies period — accounting for a customers signed up to its bidding war Stobart: 120.4p U 11.3% on cutting guidance Thomas Cook: 5.1p on Wizz Air deal Future: £11.86 U 10.4% V 26.8% on rescue agreement ¥106.24 U3.3% U0.2% succeed and others fail.

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