12 The Sunday Times May 12, 2019 BUSINESS Liam Kelly LETTERS make world-beating wines.” was spotted by veteran Send your letters, including will do. Only when we limit I am not too optimistic on Guy Hands wants his £4.5m back But Dixon, who reckons he’s financial analyst Steve SIGNALS full name and address, the number of immigrants even that aspect. Perhaps also become one of the Clapham, who was on his AND NOISE . to: The Sunday Times, arriving for low-paid jobs will another way in which Uber Terra Firma, the private instalments when they fell biggest producers of rosé in way to lead a training course. 1 London Bridge Street, wages at the bottom end of needs to learn to behave? equity firm set up by Guy due. Despite sending him Provence, doesn’t plan to Clapham, 60, tells London SE1 9GF. Or email the jobs market start to rise Christian Kuepers, Croydon Hands, lost its chief letters requesting the cash in give up the day job running Prufrock he was startled to [email protected] through the normal laws of executive last month amid February and March this IWG, as Regus is now known. see the boss of a blue-chip Letters may be edited supply and demand. (I Your article failed to explain mysterious “disagreements” year, he was set to “It’s the opposite of the grocer flying in economy. emphasise that I’m referring why Uber has grown between the curly-haired “repudiate” the debt, other business, which is high Even more surprising was Robots don’t come cheap, to low-paid jobs, not the exponentially: because it is tycoon and Andrew Géczy. according to a new high tempo — wine is relaxing.” the fact he didn’t see Coupe, but EU workers do doctors, computer scientists far cheaper to travel with Now we may know why court claim. 58, buy any breakfast. “I was In his Economic Outlook last and other professionals than a “traditional” rival. the former Citigroup banker After its disastrous £4bn starving,” Clapham laughs. week, “Robots aren’t always needed.) If I order my taxi service left so abruptly: Hands’s firm takeover of EMI and seeing Unexpected boss Then again, perhaps destroying jobs — or boosting Companies will then be via the Uber smartphone app, is pursuing Géczy through its investment in the business-class flights and productivity”, David Smith incentivised to begin my journey is a lot cheaper the courts for an alleged troubled care homes chain in economy bacon sandwiches are costs examined the impact of investing more widely in than the same one ordered by £4.5m debt. Four Seasons wiped out, no To Heathrow, where that have to be saved after artificial intelligence and productivity enhancing speaking into my Terra Firma claims that wonder Terra Firma is so Sainsbury’s boss Mike Coupe Coupe failed to get the robotics on UK productivity. systems and equipment. smartphone. That situation is when Géczy joined in keen to get back its money. was catching a flight to Sainsbury’s merger with He noted the record-high There would likely be further clearly an economic December 2016 it lent the Edinburgh on Thursday. Asda past the competition employment rate (76.1%) but benefits, with average real nonsense, as it should cost cash to him — but the The chief executive of the watchdog. The Sunday Times Rich List: also the “stubbornly high incomes finally starting to almost exactly the same to American failed to pay Essex boy Dixon FTSE 100 supermarket chain Liam Kelly meets Chris van proportion of people in low- rise above the levels they run a traditional taxi der Kuyl, the Dundee tech skilled jobs”. were in 2008. company as a Big Tech one. is White Vin Man The boat comes tycoon who put Minecraft Elsewhere in the article he Giles Nicklin, Chichester The only difference is the JUST SAYING . Essex boys will soon have a FUNNY BUSINESS on Xbox and PlayStation said that in Northern Ireland, processing of the customer’s very different reputation if in — too soon he “came across a firm that Uber’s not playing fair order — a tiny fraction of the I leave feeling Mark Dixon gets his way. The tide came in too quickly MAGAZINE, PAGE 110 had no alternative but to with its drivers, either overall cost. The Essex-born founder of at the launch of the Oyster automate because of the loss Last week’s excellent article The real reason why Uber pretty fulfilled, serviced office giant Regus — 565, a new yacht, at Tower of EU migrant workers”. “All roads lead to Uber”, now dominates traditional who has racked up a £926m Bridge on Thursday. TWITTER POLL It seems to me that, about the ongoing struggle taxi companies is therefore having achieved fortune, according to today’s Richard Hadida, 53, the without spelling it out, he has between Uber the ride- nothing to do with its Big what I set out to Sunday Times Rich List —is software entrepreneur who Yes No put his finger on one of the hailing app and the Tech, it is simply that it does trying to bring a bit of France rescued the yacht maker last main reasons for the UK’s authorities, did not consider not pay VAT on fares, and is do, which was to to the south of England. year, was telling guests on stubbornly low level of the commission that Uber not responsible for PAYE/ do something, Monaco-based Dixon, 59, the walkway high up on the 48% 52% productivity. This is our charges its drivers. This is in national insurance on its is planning to plant more bridge of his love for the attractiveness to well- the region of 25%, which drivers’ earnings, hence it leave it in good than 1.7m vines across Essex, brand before turning to his educated workers from seems a lot for what is an can offer far lower fares. This Kent and Sussex this year — right, aghast, as the vessel eastern Europe. Even the entirely automated service. gives Uber a massively unfair shape, with the equivalent of 15 average passed underneath while he minimum wage is more than How does this compare to the competitive advantage over momentum Bordeaux vineyards in a was still talking. twice as high as many east commission charged by competitors offering almost single year. “Oh my god, there she European workers can traditional minicab exactly the same service. “I’m bullish on English goes! The timing hasn’t been achieve at home. companies? Accordingly, the only wine,” the former hot dog quite right,” Hadida said. After Purplebricks founder If we want employers to Also, when you say that no question about Uber’s future seller says. And it’s all down “Oh, that’s a shame — we’ll Michael Bruce quit as the invest seriously in artificial VAT is paid on the fares as is when is the government to the weather. “It was a very all go home.” Timing is company reined in global intelligence and robotics, the most of the drivers do not going to stop one of the popular place to plant vines everything. ambitions, do you think economics must be attractive reach the threshold for the biggest cases of corporate tax Baroness (Rona) Fairhead in Norman times, and with liam.kelly@ online estate agents will to them. If it’s cheaper simply tax, one would at least hope avoidance in modern history? quitting after 19 months modern techniques we can sunday-times.co.uk replace traditional ones? to hire additional low-paid that Uber’s commission Peter Bryson, Addingham, workers, that is what they income is subject to VAT. West Yorkshire DATABANK INSIDE THE CITY SAM CHAMBERS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 FTSE 100 DOLLAR exclusivity over the most profit of just $8.9m (£6.8m) USD > GBP 1.9% 1.9% JD Sports desirable new products. on $1.8bn of sales last year. 8,000 CPI including housing current rate prev. month Cowgill, a gruff Cowgill, described by one $1.30 1.8% 1.8% Lancastrian, was quicker to analyst as being so good with 7,600 V 0.02 leaves capitalise on athleisure, numbers he’s “basically on 12-month high: $1.36 Retail prices index current rate prev. month low: $1.24 which has put trainers, the spectrum”, plans to fatten 7,200 2.4% 2.5% EURO leggings and hoodies at the profit margins by using his 7,203.29 Average weekly earnings on prev. month on last year Ashley EUR > GBP heart of teenage wardrobes. superior relationships with 177.35 H:7,903.5 6,800 For investors, however, it is the brands to fill its 529 stores 2.40 L:6,536.5 £529 V0.2% U3.5% standing JD’s overseas opportunities with trendier products, 6,400 €1.16 Unemployment current rate prev. month that are quickening the pulse. which will in turn result in FTSE 250 V 0.02 2018 2019 12-month high: €1.18 1.34m 3.9% 3.9% Sports Direct chief executive Foreign acquisitions mean it less stock going into the sales. low: €1.10 Source: Thomson Reuters Manufacturing output on the year on last month Mike Ashley has made plenty now makes 55% of its sales Some stores will be closed. YEN of poor investment decisions, outside the UK, trading from British retailers have failed RISERS FALLERS Sirius Minerals: 19.2p U 22% on Metro Bank: 533.5p V 16.4% on YEN > USD U1.2% U0.9% but his call on JD Sports takes more than 2,000 shops in 18 dismally at cracking America, mining hopes Petra Diamonds: 26.3p U continuing woes Allied Minds: 58p V Retail sales on the year on last month some beating.