12 The Sunday Times April 5, 2020 BUSINESS Liam Kelly LETTERS Alpha, owned via the Send your letters, including National Enterprise Board to still be paid in due course McLaren tycoon races to feed NHS British Virgin Islands, turned JD Sports boss’s SIGNALS full name and address, hold stakes in major unless agreements are over £111m last year and lost short arms AND NOISE . to: The Sunday Times, manufacturing companies reached (a point the article The Covid-19 crisis has sorted in Oxford tomorrow and £10.4m before tax, although 1 London Bridge Street, such as Rolls-Royce. did not mention). Britain’s bosses into heroes then Great Ormond Street in its underlying earnings more JD Sports’ withholding of all London SE1 9GF. Or email: It became known as the Therefore, engagement, and villains. On the side of London a week later. than doubled to £6.1m. rent — which boss Peter [email protected] British Technology Group in open dialogue and symbiotic the angels is former McLaren Dennis, inspired to act by On Friday, Hanley- Cowgill said is “absolutely Letters may be edited 1981, transferred to the strategies are key to boss Ron Dennis, 72, whose his daughter Charlie, an Browne, 58, raised a white necessary” despite profits of private sector in 1992 and remedying the situation. Dream Chasing foundation is anaesthetist, is looking for a flag. Having taken into £340m — has gone down like was sold for £3.3bn in 2018 to Simply refusing to pay is not a donating £1m to deliver free supermarket to help provide account “a whole range” of a cup of cold sick with High time UK had a the Boston Scientific solution. meals for NHS workers. food. Hats off to him. factors, he offered a 20% landlords. One offered to let sovereign wealth fund Corporation. These are extraordinary His initiative, which is discount to summer-term JD pay monthly rather than When the UK first started to Looking back, if a times, but landlords and being carried out through fees for school pupils and quarterly, but was told by benefit from its North Sea oil sovereign wealth fund had tenants can find solutions Absolute Taste, the catering Ritblat caned 40% at the nurseries. estates manager David reserves, it instituted the had a significant together. company he co-founded, and It may not be the 50% cut Clowes that Cowgill, 67, was petroleum revenue tax. This shareholding, it might not Adam Coffer, managing Yodel, the Barclay brothers’ by parents some parents demanded “for not budging. is payable by companies have been sold and its director, EPF, London W1 logistics group, aims to Sir John Ritblat has dealt with the duration of the remote- “It’s very unimpressive involved in oil exploration expertise and research supply one million meals to activists before: in 2003, as learning period”, but the behaviour, which I am sure and production, and is capabilities would have doctors and nurses over the chairman of British Land, he latte wielders of west will not be forgotten in the charged in addition to remained in this country. BESTSELLING BOOKS next three months, starting saw off Laxey Partners and London have won more than marketplace,” he fumes. Outdoor living: from firepits corporation tax. Neil Sinclair, chief executive, at the John Radcliffe hospital saved his job. Laxey ever managed. “Clearly Mike Ashley has a to watching a film under the In my view this should Palace Capital, London SW1 Factfulness Ritblat, 84, now faces a far far higher moral standing stars, Katrina Burroughs have been the seed of a UK Hans Rosling et al 1 Sceptre (2,897) more formidable adversary: than Peter Cowgill.” Ouch. explains how to make the sovereign wealth fund. In Rent strikes are not the Never Split the Difference JUST SAYING . the SUV-driving banker FUNNY BUSINESS most of outside space hindsight, not taking answer to the crisis Chris Voss and Tahl Raz parents of Notting Hill. advantage of the opportunity Last week’s article, “Now the 2 Random House (2,054) It is way beyond Ritblat chairs Alpha Plus, a Careful with that HOME, PAGE 6 was a mistake. coronavirus infects property Start With Why group of 19 private schools If we look at Norway, albeit giants as their tenants go on 3 Simon Sinek strimmer, Roger Penguin (1,943) anything we’ve and nurseries with 4,000 a country with a much strike”, raises some Rich Dad Poor Dad pupils. It is owned by Last weekend’s item on how TWITTER POLL smaller population than the interesting issues but fails to Robert Kiyosaki ever faced. The Delancey, the developer he YouGov chairman Roger UK, it has two sovereign fully reflect the reality for 4 Plata (1,782) runs with his son, Jamie, 53. Parry has used the lockdown wealth funds founded in 1967 many owners and tenants. StrengthsFinder 2.0 2008 crisis feels More Less Tom Rath Some parents at Chepstow to become reacquainted with and 1990 and known as the While the “giant” landlords 5 like a walk in Gallup (1,775) House and Wetherby Prep in his garden tools, and strim Government Pension Fund of and retailers cited may be in Capital and Ideology the park . west London — the latter wild garlic at his home in 60% 40% Norway. It now has assets of something of a “strike” 6 Thomas Piketty being the alma mater of Hampshire, caused a stir. more than a trillion dollars. scenario, we — and many Belknap (1,729) Princes Harry and William — One reader, Susan Bates, In the weeks ahead, other landlords — are very Shoe Dog Phil Knight were unamused by Alpha’s took Parry to task for his leading companies, not just much working together with 7 Simon & Schuster (1,694) refusal to cut fees (more than “destructive action”. “Wild airlines, will be hoping for our tenants, as we always The Intelligent Investor £7,000 a term) because of garlic is lovely to eat and, government-backed loan have done. 8 Benjamin Graham the coronavirus, with lessons more importantly, very good guarantees to keep them Of course there are good Harper Business (1,577) Black Box Thinking being taught online only. for pollinators,” she wrote. afloat. What a great and bad apples but, at EPF, Matthew Syed Mark Hanley-Browne, Parry, 66, assures opportunity for these loans to we have strong relationships 9 John Murray (1,534) Graeme Macdonald, Alpha’s chief executive, has Prufrock that he still has 10 After the coronavirus crisis be converted into ordinary with our tenants — all of Radical Uncertainty chief executive of JCB, the offered to set up a “hardship acres of “unmolested wild passes, will you want to shares and for the UK which have direct contact Mervyn King & John Kay 10 Little Brown (1,462) Staffordshire digger-maker fund” for those unable to pay garlic”, and strimmed only a work from home more or taxpayer to benefit from the with us. And that approach that employs 6,500 staff, — funded by the fees already clump. “Even the pheasants less than before? ultimate recovery. has never been more crucial, Bestseller list prepared by Nielsen using data supplied by and copyright to Nielsen talking to The Times forked out by parents. stay away from it,” he sighs. @ST_Business In 1975, the then Labour not least because any BookScan, taken from the TCM for the government set up the deferred or unpaid rent must four-week period February 23-March 21 DATABANK INSIDE THE CITY SAM CHAMBERS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 DOLLAR 1.7% 1.8% the reserves to withstand Dixon, 60, has come FTSE 100 USD > GBP Waiting what in some cases will be through tricky situations 8,000 CPI including housing current rate prev. month months of lost income. before. In 2002, Regus had to $1.22 1.7% 1.8% A short-term shock is a sell a majority stake in its UK V 0.03 till we get 7,000 12-month high: $1.35 Retail prices index current rate prev. month given, but could this be a business to Jon Moulton’s low: $1.14 good time to buy IWG’s Alchemy, and in 2003, it 2.5% 2.7% EURO bombed-out shares? became the first British 5,415.50 6,000 Average weekly earnings on prev. month on last year back to EUR > GBP IWG, which owns Regus company to file for chapter 11 94.83 H:7,727.5 £547 0.6% 3.1% and the snazzier Dutch bankruptcy in America. 1.72% L:4,898.8 U the office co-working brand Spaces, Recently, Dixon has shown 5,000 €1.13 Unemployment current rate prev. month FTSE 250 U 0.01 has sales of £2.7bn from more that he isn’t afraid of ruffling 2019 2020 12-month high: €1.21 1.34m 3.9% 3.8% Frustrated by the lowly than 2.5 million customers in a few feathers to protect his low: €1.05 Source: Reinitiv Manufacturing output on the year on last month valuation the market gave to 3,338 buildings around the interests. Buildings leased by RISERS FALLERS YEN International Workplace world. After its share price IWG are held in special- Tullow Oil: 17.3p U 48% on hopes of Hammerson: 53.9p V 28.8% on rent YEN > USD V 3.6% U 0.2% Group (IWG) — better known plunge, it is valued at £1.5bn. purpose vehicles, two of truce in price war Premier Oil: 22.8p shortfalls G4S: 69.9p V 24.3% on Retail sales on the year on last month as Regus — Mark Dixon toyed To conserve cash, IWG which were dumped into U 23.5% on crude rise John Wood: leaked immigration letter Page Group: 171.1p U 15.6% on Trump intervention 279.8p V 22.1% on recruitment woes ¥108.44 W 0% V 0.3% with the idea of selling out to announced last month that it administration last year.