Martin Vander Weyer

The BBC made much this week of a recording, from 2008, of one Barclays manager instructing another to submit artificially low rates into the daily interbank Libor fixing because ‘we’ve had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower’. How shocking is that? Well, perhaps not as shocking as it looks — even if it appears to contradict select committee evidence given by the Bank’s former deputy governor, Sir Paul Tucker. The latter part of 2008 saw a liquidity panic in the City, in which the interbank lending market all but froze.

How good a businessman is Donald Trump? Maybe the answer doesn’t matter, since barring death or impeachment he’ll be the most powerful man in the world until January 2021, or even 2025, come what may. Or maybe it does matter, in the sense that the only positive spin to be put on his otherwise ridiculous presidency is that the irrepressible cunning of the real-estate tycoon will eventually win through for the good of America — and thereby, we must hope, the good of the free world — against opponents who have smaller cojones and less dealmaking prowess than the Donald does. ‘He’s the closer,’ declared White House spokesman Sean Spicer, shortly before his boss failed to close his biggest political deal so far, the American Health Care Act.

How good a businessman is Donald Trump? Maybe the answer doesn’t matter, since barring death or impeachment he’ll be the most powerful man in the world until January 2021, or even 2025, come what may. Or maybe it does matter, in the sense that the only positive spin to be put on his otherwise ridiculous presidency is that the irrepressible cunning of the real-estate tycoon will eventually win through for the good of America — and thereby, we must hope, the good of the free world — against opponents who have smaller cojones and less dealmaking prowess than the Donald does. ‘He’s the closer,’ declared White House spokesman Sean Spicer, shortly before his boss failed to close his biggest political deal so far, the American Health Care Act.

Tesco chairman John Allan provoked feminist fury by telling would-be non-exec directors, ‘If you’re a white male, tough: you’re an endangered species’ — then claimed he was really trying to make the opposite point, that ‘it’s a great time for women’. But to the contrary, this was a week in which tough white males grabbed the corporate prizes, while one high-flying woman from an oppressed minority was hounded out of her job. First, the blokes. HSBC announced, for the first time in its history and to the satisfaction of governance zealots, the appointment of an outside chairman.

Tesco chairman John Allan provoked feminist fury by telling would-be non-exec directors, ‘If you’re a white male, tough: you’re an endangered species’ — then claimed he was really trying to make the opposite point, that ‘it’s a great time for women’. But to the contrary, this was a week in which tough white males grabbed the corporate prizes, while one high-flying woman from an oppressed minority was hounded out of her job. First, the blokes. HSBC announced, for the first time in its history and to the satisfaction of governance zealots, the appointment of an outside chairman.

I’m eager to order a Nokia 3310, the classic mobile phone of the millennium that was relaunched this week. The original was famed for its simple functions, unbreakable casing and ultra-long battery life; my earlier 3210 was just as good. I lost it on a coach trip 15 years ago and haven’t been truly happy since, having never learned to love my iPhone. But what’s more interesting about this revival is what it tells us about the turbulent evolution of the mobile device market, as well as the curious history of Nokia itself. Nokia is Finland’s contribution to corporate parable.

I campaigned hard for a business rates review, and even tried to claim credit for it — or at least for its pro-northern bias — when details emerged last September. The smallest enterprises are exempt and the provinces will gain some benefit; but it’s clear that new rateable values from 1 April will impose undeservedly harsh rises on mid-sized businesses in London and the south-east. I’m even feeling a twinge of sympathy for Victoria Beckham, whose Dover Street boutique reportedly faces a 415 per cent hike. Philip Hammond, meanwhile, is in ‘listening mode’ — not least, we might imagine, when accosted by furious shopkeepers in his Runnymede and Weybridge constituency — and is expected to introduce extra reliefs in his Budget next week.

I was sorry Kraft Heinz’s £115 billion bid for Unilever collapsed so fast — unveiled on Friday, it was dead by Sunday. Not that I saw the aggressor as a worthy potential victor; but a longer battle would have provided great material for column-sermons on good and bad capitalism. Aha, I hear you ask, but which side is which? Unilever is the Anglo-Dutch maker of Dove soap and Magnum ice creams. With its dual headquarters in London and Rotterdam, its multi-layered bureaucracy and its bosses who bang on about social responsibility, it might be seen as a big fat corporate proxy for the European Union — in urgent need of a shake-up.

Many thanks to the stampede of readers who sent news of bank branch closures. There’s certainly a national pattern, and possibly an epidemic, with HSBC, NatWest, Clydesdale and Yorkshire Bank closing outlets as fast as they can, and only the Nationwide building society making a virtue of offering an undiminished service. Counter staff still in post are praised for their kindness, particularly to readers’ elderly mothers, but sham ‘consultations’ on closures that are faits accomplis are a frequent cause of irritation. It’s clear that many towns will soon be left with no more than a single ATM plus, if they’re lucky, a post-office counter — making life particularly tough for small businesses.

Almost a decade after the financial crisis loomed, our high streets and town centres are full of life again: who ever thought consumers could sustain so many cafés, bakeries and nail bars? But the revival is being undermined by yet another wave of bank branch closures, leaving small businesses adrift and personal customers at the mercy of call centres and insecure, ill-designed online platforms. More than a thousand branches have closed over the past two years, and another 400 or so are scheduled to go soon. HSBC is showing the way with a savage cull of its network.