10 The Sunday Times June 28, 2020 BUSINESS Robert Watts KEITH MAYHEW chucked in front of a “We have 10 properties CMS made it on to the The real power behind Commons select committee. under offer.” The Castleford internet last week — only to FUNNY BUSINESS The MPs are ill-informed, Tigers prop has yet to meet disappear soon after. biased and just can’t resist Stelios, but there is talk of a Lyric connoisseurs may Kingsman’s throne grandstanding, the money rewards scheme that will give wish to look away now. men moan. easyProperty stars time on “When we draft, when we Claudia Schiffer wants to was revealed his father was But surely the bankers can his yacht in Monaco. “I’d love meet, when we train, when lure you back to the cinema. in fact George Albert Harley expect utter impartiality that,” Watts beams. A stay on we bill . we are one,” the A trailer for the third de Vere Drummond, an from Mel Stride, the Treasury the 160ft Fly Me to the Moon virtual choir of lawyers instalment of the Kingsman English aristo who was the committee’s new chairman? is not available to easyJet’s chirped. “And we just love espionage capers was godson of King George VI. Well, in 1987, he fronted a directors. Stelios just wants being lawyers with all our released a few days ago, with Schiffer and Vaughn, both campaign to encourage to send them into orbit. hearts. And we shall care for the former supermodel listed 49, married that year. students at his alma mater, our clients with all our soul as an executive producer. Marv Studios, which Oxford, to spurn the City and and our might.” It’s easy to miss her on the covers earnings from her instead pursue careers in Legal eagles who We have plenty of credits — she appears as fashion lines as well as industry. “There is too great experience deciphering the Claudia de Vere Drummond, movies, showed a £21.3m a perception that industry is sprang into song mood music of lawyers and the name she uses when profit in its latest accounts. about making oily nuts and Let’s hear it from the lawyers. the threat to Downing Street signing off the accounts for Definitely worth getting out bolts,” the then 26-year-old Or maybe not. A song could not be clearer: ease Marv Studios, the business of bed for, as the said. “I would hate to hear recorded by staff at law firm lockdown now or prepare for she runs with film producer supermodels would say. first or second-year students a CMS Christmas single. husband Matthew Vaughn. saying to friends in their third So where does the name year, ‘You are going into come from? Well, until his Stride’s early industry, therefore you are Garrick flirts with early thirties, Vaughn second rate.’ ” TWITTER POLL believed he was the son of strike at bankers An opinion no banker the 21st century Yes No American actor Robert Bankers have long howled would ever hold, of course. Is the Garrick moving with Vaughn. In 2002, however, it at the indignity of being Claudia Schiffer with husband Matthew Vaughn the times? The gentlemen’s club near Trafalgar Square 71% 29% 6 Tony Pidgley, whose death was announced on Friday, was Stelios puts prop still does not accept women a unique figure in corporate Britain. The former Barnardo’s JUST SAYING . members, of course — they orphan, who spent his early years living in a disused railway into property are merely allowed limited carriage, started Berkeley Group with a single house in 1976. Sir Stelios Haji-Ioannou has a access to the site as “guests”. Over the years, the Surrey-based housebuilder became a If I can push their contract margins new recruit. The titan of But word reaches me of FTSE 100 stalwart worth more than £5bn, employing 2,600. at 10%-12% through my sausage tangerine is growing his Garrick Zoom quizzes and Rosy-cheeked and jovial, Pidgley, 72, showed unremitting online estate agency venture, virtual cocktail hours in the attention to the finest details of his developments. He also machine . more of that profit will easyProperty, and rugby lockdown. Having welcomed Tesco suffered an investor assiduously built good relationships with local authorities. league player Liam Watts, 29, the 21st century, is it possible revolt after taking Ocado The skyscraper tycoon Gerald Ronson, a friend of Pidgley’s drop to the bottom line recently set up a branch in the club might dip back out of its peer group for pay, for more than 30 years, says: “He was detailed and knew his Mitie boss Phil Bentley made several West Yorkshire. into the 20th and begin to boosting bonuses. Should business inside out. I thought I was mad being out at 6am. references to his sausage machine while “Despite lockdown, we’ve accept women? the supermarket reverse its He’d be on the road at 5am every day.” explaining its deal with rival Interserve been very busy,” Watts says. New game: Liam Watts We won’t hold our breath. decision? @ST_Business DATABANK INSIDE THE CITY SAM CHAMBERS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 DOLLAR 0.5% 0.8% future for Hammerson in a The value of Hammerson’s FTSE 100 USD > GBP Intu’s flop post-coronavirus world? flagship assets declined by a 8,000 CPI including housing current rate prev. month Rob Noel clearly thinks so. fifth last year and 2020 could $1.23 0.7% 0.9% The former Land Securities be worse. The company said 7,000 V 0.01 casts pall 12-month high: $1.33 Retail prices index current rate prev. month boss will succeed Tyler as it received just 37% of rent low: $1.15 chairman, but will need a due on its March quarter day; 6,000 1% 1.5% EURO chief executive who can with the moratorium on 6,159.30 Average weekly earnings on prev. month on last year over rival’s EUR > GBP rebuild the City’s confidence tenant evictions extended 133.30 H:7,686.6 5,000 £529 1.7% 0.9% with a credible turnaround until September, the June 2.12% L:4,993.9 V V top shops plan and, potentially, rent day is likely to be worse. €1.10 Unemployment current rate prev. month 4,000 0.01 convince shareholders to Another risk is that the FTSE 250 V 2019 2020 12-month high: €1.20 1.34m 3.9% 3.9% When Hammerson pursued support an equity raising — lenders now in control of low: €1.06 Source: Re initiv Manufacturing output on the year on last month an ill-judged merger with Intu something Intu could not Intu’s 17 shopping centres RISERS FALLERS YEN in 2018, shareholders forced manage even before Covid-19. force a fire sale at rock- Premier Foods: 67.5p U 16.4% on Intu Properties: 1.8p V 64.5% on YEN > USD V -28.5% V -24.3% it to leave its rival at the altar. Analysts at Exane expect bottom prices — the evidence lockdown baking boom Goodwin: £32 administration Amigo Holdings: 6.3p Retail sales on the year on last month Now they are wondering Hammerson to breach debt valuers need to write down U 16.4% on record order book NCC V 35.8% on rising complaints Aston Group: 185p U 14.8% on profits rise Martin: 50.9p V 28.8% on fundraising ¥107.17 V 22.6% V 18.1% whether Hammerson will join covenants by the end of next Hammerson’s centres even 17,113.21 888 Holdings: 169.4p U 10% on Carnival: 968.6p V 22.3% on credit U 0.30 it in the graveyard. year without asset sales. more dramatically. 574.05 H:22,108.3 stronger earnings Takeaway.com: rating downgrade Hammerson: 82.1p 12-month high: ¥112.11 £84.38 7.8% on merger with Grubhub V 21.5% on Intu administration low: ¥102.34 Intu’s collapse on Friday Given the paucity of demand With at least 12.5% of its 3.25% L:12,829.7 U UK trade latest 3 mths prev. 3 mths latest 12 mths balance (£bn) sent Hammerson’s shares and the difficulty of raising shares sold short, OIL -4.5 +14.8 +3.2 down 12.6% to 82p, valuing debt to finance retail property Hammerson is one of the DOLLARS/BARREL DOW JONES FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change the owner of Birmingham’s deals, it may, like Intu, be London stocks most targeted HANG SENG product Bullring and London’s Brent forced to ask its lenders to by hedge funds, but not 25,015.55 24,549.99 1,399.33 $41.02 V 2% U 0% V 1.6% 1.17 Cross shopping centres at waive covenants. Going into everybody has lost faith. 855.91 H:29,551.4 93.90 H:29,056.4 26.75 H:1,690.8 V Budget deficit latest month prev. month year-to-date 3.31% L:18,591.9 0.38% L:21,696.1 1.88% L:1,096.5 12-month high: $71.95 (PSNB) in £bn £629m. Five years ago, its the crisis, Hammerson’s loan- South Africa’s Lighthouse low: $15.98 -62.1 -14.7 -62.1 shares were close to 700p. to-value ratio stood at 38%, Capital has amassed a 15.1% NASDAQ SHANGHAI SENSEX GOLD There are striking compared with 67.8% at Intu.