Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
Bankers are often accused of having such short memories that they are condemned to repeat the errors of their immediate predecessors, only more so. They would certainly need elephantine memories to remember a time when new banks, each with a distinctive mission and marketplace, were coming to life and flourishing everywhere. Indeed it was, in
I’ve always thought of fraud as a relatively attractive form of crime — not, of course, in the sense that I daydream of committing it, but in the sense that it involves intelligence, imagination and nerve, rather than violence and damage. I’ve always thought of fraud as a relatively attractive form of crime — not,
Go East, young man: if I was 25 again, this is where I’d try my luck Hong Kong Not four hours since the plane touched down at Chek Lap Kok and I’m howling ‘My Way’ into a Wanchai karaoke machine to the discomfort of my Chinese friends, who all sing like Charles Aznavour. I’ll give
I was Shriti’s speechwriter once upon a time — but she won’t need me in Seoul Several national newspapers lazily copied each other last week in describing me as ‘a former speechwriter to Shriti Vadera’ — the business minister who is leaving the government to become Gordon Brown’s emissary to the G20, and perhaps to
If, as the Westminster rumour mill suggests, business minister Baroness Shriti Vadera is about to resign from the Government, it is a far greater blow to the beleaguered prime minister than the loss of a PPS no one’s ever heard of over the Baroness Scotland affair, the potential loss of Lady Scotland herself, or even
Bourneville chocolate with Kraft cheese slices? Not a recipe I’d recommend The £10 billion bid for Cadbury by Kraft Foods, Inc of the US has provoked little protest — other than from the chocolate maker itself, which says it would rather remain a ‘pure-play confectionery business’ than become a component of Kraft’s ‘low-growth conglomerate’. The
Probably not, says Martin Vander Weyer, but the banks do need reining in. We’ll all be better off when the Tories dismantle Brown’s disastrous ‘tripartite’ regulatory system The last time I argued politics with Lord Turner of Ecchinswell, he was firmly on the centre right and I was a rather confused proto-Will-Hutton of the left.
Deep in the Dordogne, I can’t find a damned thing to be miserable about Sometimes in this job you feel you’re right in the thick of it, setting agendas, kicking butt, lobbing firecrackers into the national debate. Other times you might as well be some no-mates blogger in the middle of the night. Here I
Sir Fred’s return is one more sign that the storms are over — at least for now Of course it’s too early to declare an end to the economic crisis — who knows what storms the Gods have in store for us in the autumn, not to mention swine flu — but I think we
When the solemn temples are dissolving, why are they still offering giant salaries? I had the pleasure of giving a prize-giving speech on Saturday, at a lovely school called Fyling Hall which looks out over the North Sea near Whitby. I have developed a theme which seems to go down well on these occasions: treasure
I don’t give a toss about my MP’s flat, but I’m bloody livid about council tax Next Thursday’s elections have been so overwhelmed by the scandal of Westminster expenses that candidates for the major parties have scarcely shown their faces in my part of the world. And voters, content to fulminate at the daily pageant
It’s true there are signs of an economic recovery, says Martin Vander Weyer, but we should also beware a ‘third wave’ of destruction It’s springtime in North Yorkshire, which traditionally means lashing rain and temperatures like February. But however unseasonal the weather, nature knows when it’s time to wake up: in the first few days
Eddie was a model public servant: that’s why Gordon was so rude to him In Tokyo in the mid-Eighties, I bumped into a very senior Japanese investment banker who had just been to London to negotiate an operating licence. ‘We met…’ he paused for effect, bowing slightly at the neck and adopting what I can
At last, a government response to the financial crisis that is actually working. Am I referring to last November’s VAT cut? Of course not; it has been as ineffectual as we all said it would be. Those loan guarantee schemes for struggling small businesses? Nope, still very little sign of them, I’m afraid, months after
Lloyds becomes one more catastrophe for which Brown will never apologise How Lloyds Banking Group chairman Sir Victor Blank must regret not having had a prior engagement on Monday 15 September last year, the night he bumped into Gordon Brown at a City reception and got bounced into the takeover of HBOS by Lloyds TSB.
The Prime Minister’s latest measures to shore up the banking sector will not be his last, says Martin Vander Weyer. But the market is losing patience with the government’s interventions There is a passage in The Siege of Krishnapur, J.G. Farrell’s novel about the Indian Mutiny, in which the defenders of the British residency, having
A hot new brand, a better train service and a kinder role model for harsh times Here in Old Queen Street, we have (in our editor’s eloquent phrase) said pants to recession by launching a fistful of ‘brand extensions’ this year: our Australian edition, our online Book Club, and the soaraway monthly Spectator Business. Even
My hopes for America lie less in Obama- mania, more in Vaud and the Villains Long before I became a journalist I taught myself to absorb the essence of an unfamiliar city by staying alert in the taxi from the airport: Los Angeles offers a particularly vivid first encounter. As the yellow cab barrels out
Martin Vander Weyer looks ahead to next week’s Pre-Budget Report and reflects on George Osborne’s contentious remarks about the devaluation of sterling. It looks like Gordon Brown is getting away with his borrowing binge — leaving the Tories isolated On Monday afternoon I rang a distinguished City economist and asked him a rather technical question
At this juncture, my best credit-crunch advice is to keep beside your armchair at all times an atlas of the world, a modern American dictionary and a bottle of whisky. If your constitution is strong, you might also want a copy of the Financial Times but do keep the television zapper handy, so you can