DATABANK INSIDE the CITY EMMA DUNKLEY the WEEK in the MARKETS the ECONOMY Consumer Prices Index Current Rate Prev

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DATABANK INSIDE the CITY EMMA DUNKLEY the WEEK in the MARKETS the ECONOMY Consumer Prices Index Current Rate Prev 10 The Sunday Times September 13, 2020 BUSINESS Liam Kelly DAVID M. BENETT Grenadier Guards captain Caring’s not sharing his Bezos’s big fat has finished his third book, a King snatches FUNNY BUSINESS foodie wedding series of pen portraits about Kane’s crown heroes and villains, including South Kensington view Despite having had the former lord mayor of London While the pandemic has costliest divorce in history, Sir Denys Lowson, FE Smith, forced the cancellation of The renowned cellist and Natural History Museum. Jeff Bezos is still marriage the India secretary who was most charity fundraising former cabinet minister who Two years ago, Caring spent material in the eyes of some. Winston Churchill’s closest events, interdealer brokers — have complained about a £40m on Park House, a John Mackey, founder of political friend — and Cluff’s who spend most of their time property scheme in South cottage set in one acre of Whole Foods Market, recalls Anguillan wife, Blondel. on the phone — have shown Kensington have company: land that is a stone’s throw the $13.7bn (£10.7bn) Despite the focus on that they are particularly bouffant-haired restaurateur from the Tube station, to live purchase of the grocer by historical figures, he has well-equipped to keep the Richard Caring. there with his second wife, Amazon in Conscious chosen a title that tries to tap show on the road. The perma-tanned owner Patricia Mondinni. Leadership, a new book. into the zeitgeist, albeit in a BGC Partners hosted its of Annabel’s nightclub in “I am totally against this In 2017, when confronted rather tin-eared way: Black annual charity day on Friday, Mayfair and the Ivy in Covent scheme, which completely with an activist investor, Wives Matter. “I was going to commemorating its 658 staff Garden joins the chorus of ignores the ambience, Mackey, 67, sought a buyer call it Off the Cluff, but and 61 Eurobrokers disapproval over plans by character and history of the on his own terms. When I thought that was more employees who were killed Transport for London (TfL) area,” Caring, 72, says. Warren Buffett rebuffed him, amusing,” he beams. on 9/11, while raising millions to build a four-storey office The developers insist the he turned to Bezos. for more than 100 charities. block and 50 homes. buildings will be “modest, Mackey says it was love at Among those fielding calls Critics, including the proportionate and first sight between Amazon remotely — rather than at the former international appropriate”. Happily for and Whole Foods. “It’s not an broker’s Canary Wharf base development secretary Rory Caring and like-minded exaggeration, but a colourful — were actor Stephen Fry, TV Stewart and musician Julian locals, the council is still metaphor to explain what presenter Davina McCall and TWITTER POLL Lloyd Webber, claim it will canvassing opinion. Caring’s happened,” he writes. After a Tony Blair’s wife, Cherie. Yes No ruin protected views of the sharing that, but not his view. Planning row: Richard Caring with wife Patricia Mondinni whirlwind courtship, they Former Bank of England agreed what Mackey calls governor Lord (Mervyn) King “the marriage”. The last time was speaking to generous 57% 43% 6 Yet more intrigue in the empire of Sanjeev Gupta: it appears somebody tied the knot with types from his home near the steel tycoon is raising his own army. His Gupta Family JUST SAYING . Bezos, 56, it cost him $38bn. Canterbury to raise cash for Group Alliance, which owns Liberty Steel, has appointed How will this one pan out? Chance to Shine, the cricket Mark Lancaster — the former Tory armed forces minister who charity he helped establish. is a colonel in the reserves — to its advisory board. Any business that takes money from “I was told that more Since standing down as an MP at the December election, British customers should contribute Oilman may have people asked to speak with Lancaster, 50, has created a consultancy that has bagged me than with [England a contract with lobbying outfit Pepper Shackleton Wellard, . by paying its share of taxes. Far too to drill a new title football captain] Harry Should ministers extend whose clients include the Royal Pigeon Racing Association. many are not Prufrock’s lockdown projects Kane,” King, 72, boasts. “It the moratorium on Gupta, 48, is a slightly weighter mandate and will be hoping series continues with Algy shows the seriousness of evictions of struggling that Lancaster does not bring bad luck. Until 2010, he was a Morrisons chairman Andy Higginson, Cluff, the North Sea oilman people in the City.” tenants by commercial director of Kimbolton Fireworks — his father’s business, calling for a windfall levy on tax-avoiding and former Spectator owner. liam.kelly@ property landlords? which went into liquidation last year owing the taxman. companies to repair the public finances The 80-year-old former Algy Cluff and wife Blondel sunday-times.co.uk @ST_Business DATABANK INSIDE THE CITY EMMA DUNKLEY THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 FTSE 100 DOLLAR 0.6% 0.5% pre-tax loss of £53.3m in the a decade later, acquiring USD > GBP CPI including housing current rate prev. month Don’t let first half. Revenue fell by 19% Maritime Commercial Bank of 8,000 from a year ago, while bad Kaliningrad in 2008. The $1.28 0.8% 0.7% loans jumped by nearly 50%, lender bought digital loans V 0.05 this stock 7,000 12-month high: $1.34 Retail prices index current rate prev. month although costs fell by 14%. business MCB Finance in low: $1.15 More worryingly, FTSE All- 2015, catapulting IPF into 1.1% 1% EURO Share member IPF warned Finland, Latvia, Estonia and 6,032.09 Average weekly earnings on prev. month on last year knock on 6,000 EUR > GBP that the need to refinance a Australia. IPF now operates 233.01 H:7,674.6 £530 W 0% V 1.5% €397m (£367m) bond by next in 10 markets and has 4.02% L:4,993.9 Unemployment current rate prev. month your door April created a “material 1.8 million customers. 5,000 €1.08 FTSE 250 V 0.04 uncertainty” about its ability It has had a rocky ride, 12-month high: €1.20 1.34m 3.9% 3.9% 2019 2020 low: €1.06 Families may be feeling the to continue as a “going being ejected from the FTSE Source: Reinitiv Manufacturing output on the year on last month pinch, but doorstep lenders concern”. The board said IPF 250 in 2017. The shares are RISERS FALLERS YEN did not benefit in lockdown. had “adequate resources” to down 62% this year to 62p. It Royal Mail: 233.7p U 35.4% on parcel JD Wetherspoon: 926.5p V 12.3% on YEN > USD V 9.4% U 6.3% Covid-19 restrictions stopped continue trading for at least 12 ditched its final dividend in delivery boom Future: £18.04 U 24.1% new lockdown restrictions SSP: 230.2p Retail sales on the year on last month on online magazine surge Games V 11.7% on global travel slump IAG: agents collecting debts and months, although investors April to save about £17m. Workshop: £101.50 U 19.3% on sales 194.2p V 11.5% on cash call Rank: 123p ¥106.14 V 1.4% U 3.6% handing out new loans. will be watching the bond Yet it has its backers among 17,555.87 surge Genus: £39.80 U 19% on Chinese V 11.4% on sentiment Cineworld: 52p V 0.09 201.59 H:22,108.3 growth Aviva: 303.2p U 10.8% on V 10.9% on bearish broker note 12-month high: ¥112.11 International Personal refinancing closely. analysts. James Hamilton of Singapore deal Source: Refinitiv/AJ Bell low: ¥102.34 Finance (IPF) has suffered. Analysts at Shore Capital Numis estimates that the 1.16% L:12,829.7 UK trade latest 3 mths prev. 3 mths latest 12 mths OIL balance (£bn) Gerard Ryan, chief executive believe IPF’s shares are cheap market is pricing in a 77% DOLLARS/BARREL +12.01 +0.87 +21.21 of the sub-prime lender, but would wait for the bond chance of IPF becoming DOW JONES HANG SENG FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change based in Leeds but focused question “to be resolved insolvent, or suffering a 27,665.64 24,503.31 1,427.95 product on central Europe and before considering a more permanent reduction in $39.83 V 20.4% V 2.2% V 21.7% 467.67 H:29,551.4 192.14 H:29,056.4 25.04 H:1,690.8 V 2.83 Mexico, admitted last week positive stance”. capital, or both. Budget deficit latest month prev. month year-to-date 1.66% L:18,591.9 0.78% L:21,696.1 1.78% L:1,096.5 12-month high: $71.95 (PSNB) in £bn that Covid had created an IPF was launched as a “We do not see this low: $15.98 -26.7 -29.5 -150.5 “extremely challenging division of rival Provident probability as reasonable and NASDAQ SHANGHAI SENSEX GOLD trading environment”. Financial in 1997. It demerged therefore believe IPF offers 10,853.55 3,260.35 38,854.55 DOLLARS/TROY OZ A temporary tightening of very good value,” he said. IPF 459.59 H:12,056.4 95.02 H:3,451.1 497.37 H:41,952.6 interest rates that lenders IPF “remains a high-margin 4.06% L:6,860.7 2.83% L:2,660.2 1.30% L:25,981.2 $1,947.80 10-YEAR BOND YIELDS % could charge in Poland, market leader with probably U 26.47 Hungary and Finland hit IPF’s 200p the best fintech lending S&P 500 CAC 40 ALL ORDS 12-month high: $2,052.50 variation 12 months low: $1,451.31 high low business in the first half, as business in the world”.
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