Martin Vander Weyer

There’s very little to celebrate in Downing Street these days but it must have been vodka shots all round in Chancellor Rachel Reeves’s office last week when Revolut, the City’s glossiest fintech start-up, finally secured the banking licence it has been pursuing for the past five years. Founded as a currency payments app in 2015

Shares everywhere dived for cover as missiles started flying. But one stock ahead of the pack, and responding to a different alarm, was Barclays, which has dropped 20 per cent since early February, having quadrupled over the preceding two years. I’ll declare an interest as custodian of a modest family holding – making me all

All eyes on the Strait of Hormuz, the 24-mile-wide choke point between Iran, the United Arab Emirates and Oman, through which moves, in normal times, around a fifth of the global supply of liquified natural gas and a quarter of all seaborne oil. But with Iran threatening to set fire to any ship in the

There are elements of economic life, such as the impact of President Donald Trump’s ever-changing tariffs, that are far beyond national control; others, including the supply of most consumer goods, that are best left to free markets; and others which naturally benefit from state intervention. New housing, wholly dependent on planning and building regulations, clearly

‘Nostalgia is not a strategy,’ declared Schroders chief executive Richard Oldfield after announcing that the investment firm, descended from a City banking house founded in 1804, is to be sold for £9.9 billion to Nuveen – which sounds like a brand of cooking oil but turns out to be a Chicago-based manager of retirement savings.

It’s a relief not to have been pressganged into joining the Prime Minister’s plane-load of business chiefs and reporters bound for Beijing this week. With Sir Keir Starmer are leaders of the likes of Astra-Zeneca, BP, HSBC, JLR and Rolls-Royce, and some billion-pound deals will no doubt be announced while they’re there – agreed in

My Davos spy disguised as an Uber Eats driver sent word that this year’s World Economic Forum was rammed ahead of Donald Trump’s arrival. The Alpine resort was heaving with Saudis, Emiratis, AI snake-oil salesmen and US tech titans strongarmed into sponsoring USA House, the official showcase of America’s ‘unity, ingenuity and leadership’ that has

The phrase ‘trumped-up charges’ dates from the 18th century, I learn, and derives from the Old French tromper, to deceive. It has certainly acquired new resonance with the threat of criminal indictment against US Federal Reserve chairman Jerome Powell, somehow relating to the cost of Fed building renovations. The President says this Department of Justice

Of all the heavyweight books I’ve ever been asked to review, one that most influenced my view of how the world works was Why Nations Fail (2012) by two American academics, Daron Acemoglu and James A. Robinson. Their theory, drawn from a broad sweep of history, is that all state regimes fit patterns that are

Forecasting is a mug’s game, as the Bank of England governor Mervyn King once said. But I’ll sketch a few trends for 2026 nevertheless, starting on a positive note in the stock market before moving on to some of the many choices on an à la carte menu of gloom. The FTSE 100 index will

God bless Netflix: I’ve just watched all 28 episodes of Foyle’s War, the 1940s detective series set in Hastings and London that first aired on ITV more than 20 years ago. Pedants may have spotted minor anachronisms or been irritated by London scenes filmed in Dublin, presumably for tax breaks. But for me, the whole

‘Banks don’t vote and citizens don’t love them, so they’ll always be the Chancellor’s target of choice,’ I wrote in September when one of this autumn’s many false Budget trails pointed towards a left-pleasing extra surcharge on bank profits. But it didn’t happen: partly because Rachel Reeves was love-bombed by Goldman Sachs chief David Solomon

When I first joined The Spectator under the proprietorship of Conrad Black, we operated in sisterhood with the Telegraph titles which he also owned, and no one objected to the Daily Mail ringing the Spectator house in Doughty Street most Fridays to buy the best of the week’s articles for re-publication or to commission the

How, I wonder, did a shortlist of candidates to succeed Sir Mark Tucker as chairman of HSBC come into the public domain? The three names ‘exclusively’ revealed by Sky News, if they really are the final contenders, ought to be a secret kept between a board committee led by senior independent director Ann Godbehere and

The softening of the Bank of England’s stance on ‘stablecoins’ looks like another tugging of the British forelock towards the Trump regime. Stablecoins are virtual money akin to cryptocurrency, but theoretically safer because their value is pegged to the dollar or other conventional currencies. Often used by investors to buy into crypto, they’re claimed to

Call me hard-hearted, but I doubt even a magic mushroom-induced tantric visualisation of a harmonious universe could transport me into a state of sympathy for Rachel Reeves. Her content-free but don’t-blame-me speech on Tuesday morning did nothing to make me feel more benign. Yes, it’s not entirely her fault that a Labour cabinet can’t deliver

In a radio discussion of the Renters’ Rights Act which passed into law this week, I heard ‘Britain’s housing emergency’ referred to as a given fact. If that’s so, then the housebuilders who create supply and feed home-owning aspirations ought to be public, political and stock-market heroes. But they’re not – and it’s worth asking