DATABANK INSIDE the CITY SAM CHAMBERS the WEEK in the MARKETS the ECONOMY Consumer Prices Index Current Rate Prev
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10 The Sunday Times March 15, 2020 BUSINESS Andrew Lynch LETTERS one in particular, apart from sandwiches — cut out. Send your letters, including of not studying aeronautics? government cannot fall for it. Will Boden tell us the whole story? the government, in his Greencore has a grand SIGNALS full name and address, A fable tells of a mouse Dr David Lowry, senior speech at the Non-Executive tradition of revolts over pay. AND NOISE . to: The Sunday Times, bent on finding the ocean. He international research fellow, Starling Bank founder Anne was a “thrilling account of Director Awards last week. 1 London Bridge Street, reaches the shore, sees a rock Institute for Resource and Boden has a new book out in entrepreneurship”. Having had a right old London SE1 9GF. Or email pool and returns home Security Studies, Cambridge, November. Banking On It: We’ll never know, since time of it as president of the Whooping is [email protected] contented, failing to see the Massachusetts How I Disrupted an Industry the book never made it to the CBI during the Brexit era, Letters may be edited ocean in front of him. is “the first-hand account of shops. Gossips suggested all Drechsler mused on the over for Gadhia Coronavirus is the rock pool, Business tax system is in one woman’s quest to sorts of dark things. So will merits of changing one’s A brave decision in these Greta is right — and our climate change is the ocean. full accord with the rules rebuild Britain’s broken the new tome be the book we mind. “A year ago,” he said, tempestuous times by Dame leaders have no solutions Eric Wynter, Taunton, David Smith repeats the banking system”. nearly got in 2018? No, says “‘expert’ views were Jayne-Anne Gadhia to leave Greta Thunberg is right, Somerset mantra that the business tax Prufrock can’t help recall Starling. Apparently, “it dismissed as irrelevant. the corporate hug of whether she has solutions or system unduly favours debt that it was nary two ago that wasn’t the right time” for Today, once again in the UK, Salesforce for her fintech not (“Jaguar boss: Greta Don’t fall for Horizon’s finance (Economic Outlook, Boden, 60, was about to Good Bank, Bad Bank. it is expert views we listen to start-up Snoop. offers no ideas over climate outlandish nuclear claims last week). In fact, the tax publish Good Bank, Bad So whether it details the so carefully and respect. When Gadhia, 58, became change”, last week). I read with incredulity the treatment of interest payable Bank: How I Started a fractious relationship They are doing a brilliant job UK chief six months ago, she Our ferry to Spain was claims of Horizon nuclear by businesses is in full accord Revolution and Changed between Starling and rival in respect of coronavirus.” seemed to have drunk the delayed by storms. Breakfast chief Duncan Hawthorne that with its legal position and the Banking Forever. A few Monzo remains unclear. Drechsler, 63, joins the Kool-Aid with Salesforce boss Relative Values: The saw china flying off tables. his company, which is really a commercial accounting rules. review copies went out. board of M&S food supplier Marc Benioff. “He’s inspiring Michelin-starred chef, Ten days later, we shortened Japanese shell company with Interest paid out is a Rachel Botsman of Oxford Greencore in May, where he in every sense of the word,” Marcus Wareing, and his our holiday in southwest no products, could build contractual commitment, Saïd Business School said it Peston made his will have his work — and his she told us at the time. wife, Jane, on falling out with France because of storms — nuclear plants offering power and a cost of doing business “Everyone is whooping Gordon Ramsay, temper huge rain and violent winds. at half the currently projected before profit is earned, rather excuses . about it. There can be too tantrums and their recent On the ferry back, the cost from the Hinkley Point C than a distribution from JUST SAYING . In his Cudlipp lecture last FUNNY BUSINESS much cynicism here.” burglary ship’s purser exploded: “We plant being built (“Japanese profit. It is the tax treatment week, Robert Peston, the Indeed. used to have long normal offer nuclear power on the of returns to equity that is out political editor of ITV News, MAGAZINE, PAGE 40 periods of weather, even if cheap”, last week). of kilter. It pretty well has to This is the revealed how the Daily Mail there were storms. Now there Making these outlandish be so in a country that has tried to hire him in the 1980s. Life after fighting are none. We cannot sleep, claims on the anniversary of high tax rates on personal budget of “One of the perks offered Dad’s Army TWITTER POLL we are exhausted. There is the disaster at the Fukushima income. In small, closely a government was that they had close hardly any snow in the Alps. Daiichi reactors in Japan on controlled companies, relationships with broking Another financier on the Yes No In the Ariège, the March 11, 2011 — costs $250bn returns on equity are not that gets firms who gave Mail hacks move is Richard Taylor, the temperature in February was (£200bn) and rising — entirely a reward for financial privileged access to offerings former chairman of Barclays’ 21C. It has all changed.” suggests Horizon has not investment and thus things done and placings of new shares at investment bank, who is 47% 53% Greta is right. Have our learnt the full lessons of that. interchangeable with debt the discounted flotation joining Greenhill as UK leaders any solutions? They The regulated asset base finance. They are largely a price — a reward for bullish chairman. Taylor, 54, who seem to be doing next to (RAB) financing mechanism form of remuneration for coverage,” said Peston, 59, replaces Lord ( James) nothing. Horizon advocates transfers proprietorial labour. So the who made his excuses and Lupton, spent eight years at Joan Wadsley, Bristol all financial investment risk tax treatment of profit and left. No more talk of the good Barclays, culminating in the to electricity customers dividends cannot fall too far old days, please. defence of Provident Jaguar Land Rover’s outgoing before a single unit is out of line with income tax Financial from the Dad’s boss, Ralf Speth, accused delivered to a home, allowing rates on high personal Army bid led by its 71-year- FTSE 100 insurer Prudential “Greta Thunberg and the foreign nuclear company earnings without creating big In praise old former boss, John van has set out plans for a Extinction Rebellion of to build plants without having avoidance opportunities. Nor Kuffeler. No wonder he partial float of its US highlighting problems and to pay attention to keeping could large companies easily Rishi Sunak delivers his of experts needed a bit of a break. business. Should it go offering no solutions”. Is this costs under control. be taxed at different, lower first budget as chancellor Paul Drechsler didn’t miss a andrew.lynch@ further and break itself up, not the pilot accusing This is an extraordinarily rates compared with SMEs. of the exchequer chance to pick a fight with no sunday-times.co.uk as an activist is urging? passengers, who have one-sided proposal. Surely Andy Thompson, Worcester reported the plane is on fire, even this nuclear-friendly Park, Surrey DATABANK INSIDE THE CITY SAM CHAMBERS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 DOLLAR 1.8% 1.3% full impact is greater still. Group, an American airports FTSE 100 USD > GBP WH Smith Investors were not in a retailer, for £312m — a deal 8,000 CPI including housing current rate prev. month charitable mood and, in the that should pave the way for $1.23 1.8% 1.4% two days after the warning, the company to expand more V 0.08 seems a 7,000 12-month high: $1.35 Retail prices index current rate prev. month WH Smith’s shares sank by aggressively in the American low: $1.20 almost 30% to £11.19p, market with the benefit of 2.7% 2.2% EURO valuing the chain at £1.3bn. local knowledge. 5,366.11 6,000 Average weekly earnings on prev. month on last year bargain in EUR > GBP That was compared with a The economic shock waves 1,096.44 H:7,727.5 £544 0.2% 3.3% 9.4% drop in the FTSE 100. from coronavirus look set to 16.97% L:5,237.5 U the crisis The worn-out carpets and push struggling businesses 5,000 €1.11 Unemployment current rate prev. month FTSE 250 V 0.05 leaking ceilings in WH Smith’s over the edge — but WH Smith 2019 2020 12-month high: €1.21 1.28m 3.8% 3.8% It’s a tricky weekend for a high street stores earn it can ride out the storm. low: €1.07 Source: Reinitiv Manufacturing output on the year on last month retail stock tip, but here goes. plenty of critics — but not in The retailer generated RISERS FALLERS YEN WH Smith has been the City. The retailer’s £109m of free cashflow last BH Global: £16.85 U 10.5% on currency Premier Oil: 16p V 74% on crude YEN > USD V 3.6% U 0.2% impressively resilient in the ruthless cost-cutting has year and its leverage was just bets AO World: 65.8p U 5.8% on collapse and debt position Finablr: 11.6p Retail sales on the year on last month midst of the high street enabled it to dish out more 0.9 times its underlying possible online sales bounce Ocado: V 71.3% on growing cash crisis Costain: £11.83p U 5.4% on coronavirus 59p V 61.7% on capital raising ¥107.91 U 0.8% U 0.9% bloodbath of the past decade, than £1bn in cash returns to earnings, leaving it with some 15,562.00 stockpiling Balfour Beatty: 23.8p Cineworld: 44.2p V 60.2% on closure U 2.61 offsetting the declines in its shareholders since 2007.