Technology revolutionsSteamships 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 resetSir 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
Shop dropThe disruptor has been disrupted. Sears, Roebuck and Company was founded in 1892, selling a huge range of products by mail order: bicycles, sewing machines, cars, then fridges, groceries and cooking stoves too. In short, Sears provided ordinary consumers with the capacity to
Volatility repriseEarlier this year, Betterment, an online investment company based in New York, conducted a survey of 2,000 people to gauge their impressions of equity market performance. Of those Americans polled, 48% said they thought the stock market had failed to rise in ten years,
Dancing Queen“You know, as a business principle, it’s not good to have all your eggs in one big basket,” said Sonny Perdue, US Secretary of Agriculture last week. “And that’s what we did with China, because they were customers and hungry. And we fed them
Turning tides“Nations have no permanent friends or allies, they only have permanent interests,” said Lord Palmerston, twice prime minister during the heyday of the British empire. Recent turns in the tides of diplomacy suggest the abrasive ‘Lord Pumicestone’ (as he was popularly known) might have
Auf WiedersehenThe Felsenreitschule theatre in Salzburg is used to goodbyes. It was where, in the 1965 film, The Sound of Music, the extensive von Trapp family sang for their wartime audience before fleeing across the border: “So long, farewell, auf Wiedersehen, good night.”Theresa May faced
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