Reform of cash Isas is still on the agenda. Quite right, too | Nils Pratley
hOff from our cash Isas! Don't punish savers for choosing safety! Don't force everyone to stock or shares! If you take away the banks and build society from their most attractive sources of deposits, consider the chaos that will cause for first-time buyers! Don't fall into the selfish lobbying of city fund managers! The screams […]
Tariffs would be a drag, but Guinness boss still needs to find a brew for recovery | Nils Pratley
DOn -off tariffs on Onald Trump are good for at least one thing. They provide convenient excuses to abandon sales forecasts to administrators who are struggling. The combo of Diagio, Guinness, Johnny Walker and Suminov has cited “current macroeconomic and geopolitical uncertainty”. It shows the possibility of US tariffs in Canada and Mexico. However, the […]
Ofwat opts for expediency. It’s time for water companies to stop bleating | Nils Pratley
WSubsequent banknotes in England and Wales were always to be significantly increased in value. The problem was the degree. Ofwat has come up with a figure that roughly represents the amount of money that around three-quarters of businesses need to fund their regular operations and build new projects. The stock price reactions of the few […]
Next and the beautiful arithmetic of long-termism | Nils Pratley
HThere's no terribly sinister way to look at Next's progress towards an annual profit of £1 billion this year: the retailer already made profits of nearly £500 million (£498 million) in 2008, so it's not extraordinary that it has simply doubled in 17 years – a compound annual growth rate of just 4%. But that […]
Is the British Gas boss really worth £8.2m? | Nils Pratley
TAstraZeneca caused an uproar when it proposed to pay its chief executive, Pascal Soriot, £18.7 million if he met performance targets, sparking a 35% backlash from shareholders. The defence argument was that the drug company was one of the largest in the FTSE 100 index and had to compete for executives in the US, where […]
Czech billionaire’s bid for Royal Mail is problematic from every angle | Nils Pratley
aDaniel Krzytinski’s new offer to the owners of Royal Mail is satisfactory on almost every aspect, including the price, the identity of the bidder and sketchy ‘promises’ to protect the UK postal service. It’s not something I can do. First, the terms of 370 pence per share, or £3.5 billion, look attractive if this government […]
Noel Quinn’s exit seems respectable but big uncertainties about HSBC remain | Nils Pratley
CLike Barclays, HSBC executives have also been leaving under dramatic circumstances in recent years. The last one, John Flint, was ousted as chairman by incumbent Mark Tucker, who had appointed him just 18 months earlier. Back in 2010, Michael Geoghegan was summoned to the Goring Hotel to decide whether he wanted to remain as chief […]
Barratt’s £2.5bn takeover of Redrow makes sense … for Barratt | Nils Pratley
TBarratt Developments’ proposed £2.5bn takeover of smaller rival Redrow will increase the supply of new homes in the UK and give customers more homes, executives of both companies said. It was a “fascinating opportunity” to do many useful things, including: More choices. At least that’s what they will tell the Competition and Markets Authority (CMA). […]
ExxonMobil’s attempt to silence activist investors should be a warning to shareholders | Nils Pratley
ExxonMobil is “committed to responsibly meeting the world's energy needs,” according to the company's explanation, but shareholders are not allowed to express their views on the “responsible” part of the company's bragging rights. It is clear that they are not committed to allowing this to happen. U.S. oil companies are trying to block a vote […]