Stock "There is no subtler, no surer means of overturning the basis of society than to debauch the currency," warned John Maynard Keynes, probably the greatest economist of the 20th century. Spare a thought, then, for Venezuelans. At the start of 2018 a cup of coffee
Stock These days America has two ‘Big Apples’, one on each coast, and they both pack a financial punch. New York City’s current GDP is some $1.5 trillion. At its peak in 2018, Apple Inc., listed in New York and based in California, had surged to
Pinball pound “Minister, Britain has had the same foreign policy objective for at least the last 500 years: to create a disunited Europe,” said Sir Humphrey Appleby, the slippery senior civil servant in the 1980s TV comedy, Yes Minister. “We had to break the whole thing
Cutting edges Over the long term, China can lay claim to pioneering some of the world’s most significant inventions. Gunpowder, paper, the compass and printing may be the famous four that Chinese schoolchildren memorise in school, but there are many more; among them football (just not
Positional play Half a league, half a league, Half a league onward, All in the valley of Death Rode the six hundred. “Forward, the Light Brigade!” So opened Tennyson’s poem describing the mistaken British charge against a Russian artillery battery in Crimea in 1854. Last week, it was Ukraine’s
Technology revolutions Steamships and railroads opened up the nineteenth century world; electricity, gas and oil powered the new industrial processes of the twentieth. Such shifts were mirrored on stock markets. In 1917, the largest stock on US markets was US Steel, followed by American Telephone & Telegraph,
A good deal worse? There are decades when nothing happens and there are weeks, said Lenin, when decades happen. Has the UK just been through one of those weeks? There are reasons to think so. When Theresa May delivered first a Brexit deal and then Cabinet approval
Terminal moments “Why speak they not of comrades that went under?” ends Wilfred Owen’s 1918 poem, ‘Spring Offensive’. Last weekend, after the pizzazz of the US midterms, presidents and prime ministers gathered in France to do just that, marking a hundred years since the war was
Soldiering on “Money is a good soldier, and will on,” said Falstaff, one of Shakespeare’s laziest and best-loved characters. How right he was – as long, that is, as the money is in the right place. Two years after Falstaff’s maiden appearance on the English stage, the
Market reset Sir Christopher Wren, the architect behind the Royal Observatory in Greenwich, was born this week over 380 years ago and reversion to Greenwich Mean Time on Saturday night was met with the usual reminder of ‘spring forward, fall back’. Indeed, as the clocks
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