10 The Sunday Times June 17, 2018 BUSINESS Oliver Shah LETTERS emerged as an adviser to joke about Sorrell’s name. Send your letters, including on the NHS has increased by level of critical intervention. From The Body to The Nobody chairman Roberto Quarta In some Scandinavian SIGNALS full name and address, almost 12 times! (“The NHS: At the Bristol SETsquared during the investigation into countries, he said, Sorrell AND NOISE . to: The Sunday Times, 70 years old and counting . Centre, we can leverage the Elle Macpherson was the star wear accountants meekly Sorrell’s misdemeanours, meant “kind, compassionate 1 London Bridge Street, the cash”, last week). This strengths of working with a attraction at the EY World asked Macpherson for a which allegedly included a and generous”. Rudd London SE1 9GF. Or email pattern is unlikely to change world-leading university. A Entrepreneur of the Year selfie. Stay classy, guys. visit to a Mayfair brothel on paused, before adding that in [email protected] because everyone assumes crucial thread of this support event in Monaco last week — company money (a claim another language, Martin Letters may be edited the NHS is a religion. is a critical culture, to which but it seemed that not Sorrell vigorously denies). meant “not very”. The only way to slay this Mr Johnson alludes. Our everybody got the memo. EY gloating Rudd, 57, and Sorrell, 73, With exporters like these, sacred cow is to lay out its entrepreneurs-in-residence, The supermodel-turned have sometimes had an edgy who needs the EU? genetic faults. A service all with exits behind them, businesswoman, 54, was in Monaco relationship. In June 2001, Gavin puts on I read your International perceived to be “free” may continually challenge seen walking into a plush Still in Monaco, an EY boss shortly after WPP bought Track 200 section last week not be valued and may have entrepreneurs to make sure reception at Opéra de Monte- was heard to boast that his Finsbury and made Rudd a a brave face with a growing sense of unlimited demand. If there that not only are they doing Carlo — only to be asked for company was the only one of millionaire, the PR man Whereas Sorrell cancelled an optimism and pride. are no penalties when a the right thing, but also that her conference accreditation the big four accountants not threw a 40th birthday party appearance at London Tech I have heard that the EU’s monopoly overspends, you they learn the techniques for by a burly security guard. to be facing a fine for at Syon Park in west London. week, fellow defenestrated Brexit negotiators base much have a driverless train, doors being self-critical. After a few stunned looks, allegedly shoddy practices. There were five marquees boss Gavin Patterson still of their thinking on reports in wide open, careering to an Even after accepting only a the woman known as The Perhaps the brag was with young women painted gave the headline speech at the UK media. If so, this unknown destination. fifth of the early-stage Body was ushered through. prompted by the presence in gold and silver standing on the snappily-named feature should do us no harm Concerned taxpayer, companies that apply to There was more ignominy of a certain superyacht in plinths like statues, but the TechXLR8 in east London. Spending £250,000 on two at all. The achievements of Berkhamsted Bristol SETsquared, our level to come. At a rooftop drinks Monaco’s marina. Lionheart, most talked-about moment The luxuriantly coiffed BT London garages with no these fast-growing exporters of critical honesty leads 27% party later, a few worse-for- the £100m vessel owned by came when Rudd cracked a chief Patterson, 50, was planning permission was a tell us that, when left to get on Without criticism, nothing of members to stop before Sir Philip Green, 66, was booked to talk about how BT risk that paid off for one with things, they can will grow in incubators they start trading or take moored in the harbour on is helping Britain towards its savvy buyer compete with the best. I was delighted to read Luke investment. Out of those that JUST SAYING . Thursday evening. FUNNY BUSINESS “digital future”. Awkward. With exports growing at an Johnson’s column on the go on to graduate from our EY’s arch rival PwC was HOME, PAGE 16 average 62%, sales at £22.8bn subject of incubators (“Do programme, only 3% have fined £6.5m last week for and 106,000 people on the incubators just encourage gone bust since 2005. We’re failing to sound alarm bells in Cuddly King’s collective payroll, they need playing at being We don’t take any stake in the run-up to Green’s sale of TWITTER POLL no political meddling to win entrepreneurs?”, last week). the businesses. We believe watching BHS for £1 to former bankrupt shining example business overseas. They I agree that buildings full this allows us to be even more to see Dominic Chappell three years Mervyn King’s journey to Yes No instinctively understand that, of twentysomethings objectively critical in a ago. EY’s top brass were in national treasure status despite what politicians told pretending to invent a new trusted environment. what jubilant mood. What’s that continues apace. In a special us for years, we don’t have social network for cats, with In fact, companies coming Martin saying about pride? issue of Country Life called 36% 64% “partners” in Europe, we free beer on tap and funky through the Bristol The Best of Britain, the have competitors. music, is attractive, even SETsquared Centre raised will do former Bank of England This report reminds us beneficial, to some, but they £130m of investment in 2017, Sorrell, Rudd governor is pictured in the what can be achieved. I know are unlikely to be the source reflecting the strength of the gardens of his Kent oast it is simplistic — but since of stellar companies. Bristol and Bath tech cluster. and mud house. King, 70, reflects that when did buying and selling The word incubator is used More investment was raised City PR supremo Roland “the most valuable thing I have to be complicated? in lots of different scenarios. here last year, per head of Rudd and fallen ad man Sir have done” was not at the Tony Haynes, Cheltenham Some are just offices (some population, than in London. Martin Sorrell have ended up Bank, but in helping set up Would you be comfortable with labs) for companies in I agree with Mr Johnson WPP chairman Roberto on opposing sides in the the Chance to Shine charity buying a phone from Time to slay the sacred cow the same sector to co-locate; that cowgirls and cowboys Quarta reacting to battle over Sorrell’s to get cricket back into state Carphone Warehouse after that is Britain’s NHS some are simply shared desk- have more fun, but they are questions about former humiliating exit from WPP. schools. It’s a cuddly side Dixons Carphone admitted David Smith serves us well. spaces. But there are those, always more effective when chief executive Sir Martin Rudd, whose Finsbury some bankers he dealt with a huge data breach? He shows that, while the UK such as the SETsquared they are taught how to ride. Sorrell’s new venture agency is owned by WPP, might struggle to recognise. @ST_Business population has increased partnership across southern Emma Thorn, director, from 50m to 65m, spending England, which have a high Bristol SETsquared Centre DATABANK INSIDE THE CITY JOHN COLLINGRIDGE THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 FTSE 100 DOLLAR 2.4% 2.4% clunky systems. It stocked week to pore over the data. USD > GBP Speedy about 5,000 product lines, Speedy’s share price has 7,800 CPI including housing current rate prev. month often with little to distinguish responded by rising strongly 7,600 $1.33 2.3% 2.2% between them. from the depths it plumbed in V 0.01 Retail prices index current rate prev. month finds the In a business whose 2016, ending last week at 12-month high: $1.44 7,400 low: $1.26 success is measured on 62.2p, valuing it at £326m. 3.3% 3.4% EURO tools for sending its £200m of assets There is more to come. 7,633.91 7,200 Average weekly earnings on prev. month on last year out on hire for as much time Debt has been shrunk to 47.16 H:7,903.5 EUR > GBP as possible, it was deeply £69.4m, just below its 0.61% L:6,866.9 7,000 £516 U0.2% U2.5% Unemployment current rate prev. month the job inefficient. underlying earnings of £73m. 6,800 €1.14 Down has pared back that That’s a happy place to be, FTSE 250 U 0.01 J J A S O N D J F M A M 12-month high: €1.16 1.42m 4.2% 4.2% Three years is a long time in stock to about 3,500 lines. and gives Speedy scope to use low: €1.07 the world of tool hire. Rewind Why offer ten types of ladder more of its £180m of banking Source: Thomson Reuters Manufacturing output on the year on last month YEN to 2015 and Speedy Hire, the when three will do? Stocking facilities, taking debt up to a RISERS FALLERS YEN > USD U1.4% V1.4% Liverpool-based supplier of one type of drill, rather than still-comfortable level of 1.5 Petra Diamonds: 67.3p, U 22.5% Connect: 31.5p, V 41.1% on low sales Indivior: 360.5p, V 26.4% on rival drug Retail sales on the year on last month power drills and cherry four, means maintenance is times earnings.