They’re not really thinking about this, are they?

EU scrutiny comes as the Government attempts to maintain and capitalise on Britain’s lead in Europe as a digital economy through Brexit. Ministers view improving the country’s broadband networks as vital. While more business is done online in Britain than anywhere else in the EU, its digital infrastructure lags behind France, Germany, Spain and Italy.

If we do more business on a worse network then it’s not the network determining the amount of business, is it?

What a lovely financing technique

Amid a battle for orders between Boeing and Airbus, Monarch secured a cut-price deal for 30 new planes — which later rose to 45. The market value of the aircraft was greater than Monarch’s agreed price, so creating a paper profit.

Greybull was able to persuade Boeing to release more than £100m of this trapped equity as cash, pumping it into the airline through Petrol Jersey.

Buy something you can’t afford at a discount, claim the discount as capital. Actually, they managed to go up one notch, manage to persuade the seller to give you the discount as capital.

That really is innovative.

Oh Aye?

The number of Uber drivers in London should be capped to ensure ‘healthy competition and consumer choice’, the boss of a rival minicab app has claimed.
Kabbee chief executive Justin Peters called for a limit on the proportion of minicab drivers overseen by one company if Uber overturns a decision not to renew its operating licence.
Some 116,000 minicab drivers hold licences in London and Uber says around 40,000 use its app in the city.

An entry for the “Please use the law to hobble my competitors” competition then.


Bosses at Monarch Airlines were given 24 hours to save the low-cost carrier yesterday as officials raced to put together a rescue plan for up to 100,000 holidaymakers who could be stranded overseas.

I was wondering why quite so many emails about seat sales….

If these numbers are true then Uber should be able to piss all over the ban

The safety question is an interesting one, in so far as it’s manifest horseshit to say that black cabs are safe, but Ubers are not. Nothing in life is perfectly safe. In the Spectator today, it’s pointed out that in 2015/16 32 accusations of sexual assault were made against Uber drivers. (This rose to 48 in the year to Feb 2017). Meanwhile around the same period 126 black cab drivers were charged with such a violent or sexual offense.
For what it’s worth, there are reckoned to be 23,000 back cabs in London today, vs 40,000 Ubers, the latter being used by 3.5M passengers in London.

I’ll not vouch for the numbers but if they’re true…..

Uber’s sexual assaults in London

This is the number being thrown around and sadly it’s not the number we want to know:

It stated that from Feb 16 to Feb 17 there had been 48 sexual offences recorded were Uber was referenced in a crime report for a private hire journey-related sexual offence- in London.

So now we can now positively state that Uber related serious sexual assaults including rapes, has increased this year by 50% going up from last years 32, to this years 48.

How much did Uber traffic go up by over that same period?

That is, it’s the rate, not the number, which is the important thing here.

Further, what’s the rate for other private hire companies? For black cabs? Is Uber better or worse is the question to be answered, the one that isn’t in fact being answered.

Not sure about this on Uber

This is a company that has become a byword for Silicon Valley excess – it’s not a business model to admire. This makes the number of left-leaning people bemoaning its possible exclusion from one city slightly surprising. Uber makes multibillion-dollar losses. The much-loved convenience and low prices rely on these losses, and on an excess of driver supply, so there’s always a car available when you need it. This isn’t good for the drivers, and ultimately it won’t be good for the passengers. It’s inevitable prices will rise – the company can’t continue to be loss-making for ever – and one theory goes that this will happen once it has driven its competition out of business, and/or developed the driverless cars that will put thousands out of work.

The excess of drivers thing is palpably wrong. Uber drivers spend more of their time with a ride than Yellow Cabs do (figures for NYC of course).

As to the losses, not, sure, would be interesting to know in fact.

It’s possible – and I really don’t know – that they’re cash flow positive in “mature” markets like London, the losses coming from starting up in other cities. Does anyone actually know?

Numbers love, numbers

He has made it part of the Ryanair style to taunt passengers’ appetite for the 50p flight with what are amusingly called ancillary charges. That is, anything that isn’t the seat on the plane. These generate 20% or more of the airline’s multibillion-pound profits.

Where does that multi- come from?

The Irish airline made a profit after tax of €1.3bn (£1.1bn) in the year to the end of March, even though it slashed ticket prices to fill almost 14m seats added during the period.

I’ve seen one number which says they’ll carry 130 million odd people this year. So, profit is around the £7 or £8 a flight level. Looks a pretty tight margin business to me.

Property developer speculates

A London property developer is to allow its tenants to pay their deposits in bitcoin – the first time the virtual currency has been used in the UK residential homes market.

OK, right….it’s a deposit note.

The standard deposit is £500 – for all unit types and sizes – and The Collective has pledged “spot conversion”, which means it will bear any financial risk while holding the deposit, returning it at the original value when the tenancy finishes.

We might even imagine that they expect it to continue to rise in value leading to a nice little profit there.

Or, of course, the bubble might burst…..

Looks like it works then, doesn’t it?

Tim Cook, the chief executive of Apple, has collected $89.6m as part of a 10-year deal that he signed as an incentive to keep the iPhone maker at the forefront of the technology industry after he took over the reins in 2011 from company co-founder Steve Jobs.

Mucho dinero.

The stock package awarded to Cook in 2011 was originally valued at $376m, but is now worth much more because Apple shares have increased by six-fold since he signed the deal.

Seems to have aligned his interests with those of the shareholders quite nicely, overcoming that principal/agent problem.

Umm, yes.

Wendy Watson MBE, who was also a trustee, was paid from the charity’s £909,634 budget. In total £874,539 was set down in the charity’s accounts as “fundraising expenses and other costs”, with just £27,403, or 3 per cent, left over for charitable activities.

This is a test which not quite all of those political charities would pass all that well, isn’t it?

How many kids does Barnardos actually aid these days, instead of calling for more aid?

Blithering nonsense

An American rival — Cincinnati-based Vantiv — has launched a £9 billion takeover bid. Although 5,000 UK jobs are at risk, it seems that Worldpay bosses, led by former CBI president Sir Mike Rake, have succumbed with barely a murmur.
This supine cave-in typifies the attitude of our political and business elite.
They seem totally unconcerned at the speed with which British high-tech firms — built by the scientific and engineering skills of some of Britain’s greatest brains — are falling into the ravenous maw of foreign firms.
With Brexit on the horizon, the timing could not be worse.
Instead of stopping our national assets and technological genius being stripped, employers’ groups such as the CBI — who were used as puppets for the Cameron government’s cynical Project Fear — should now be straining every sinew to protect Britain plc.
This is why the fate of Worldpay — Britain’s largest and most profitable financial technology (‘fintech’) group — is so vitally important.

Dunno who is paying for this but all the signs of a bit of financial PR.

The bit being missed is that the company does not belong to Britain it belongs to the shareholders. Who are getting 9 billion spondoolies for their troubles.

Well, yes, obviously

British savers have missed out on at least £90 billion by keeping money in savings accounts rather than investing in shares, a leading think tank has said.

The Social Market Foundation has warned that low rates and rising inflation means that savers are losing money by keeping it in cash accounts.

Its report, entitled “Saving Better”, warns that risk-averse savers could be devaluing their own money by trying to keep it safe in low-risk bank accounts instead of investing in the stock market.

Not that the professor of practice will agree.

However, it is risk adjusted return that we’re supposed to consider, isn’t it?

Welcome to the corporate world honey

The problems began soon after she was appointed Europe regional editor, after eight years of outstanding performance and appraisals, court documents allege. The suit alleges that Time’s foreign editor appointed Matt McAllester, a younger male colleague, as her deputy, without an open selection process and in violation of promises that she could choose her team. Mayer says McAllester began a campaign to undermine and supplant her, even though she repeatedly raised complaints.

Ultimately, Mayer claims, the company took away her responsibilities as Europe editor the year after she took on the position, then forced her to relinquish the title, which the company gave to McAllester. In April 2015 she was fired.

The suit, filed on 24 July, said: “Time has violated [anti-discrimination and civil rights] laws by operating a system of male cronyism, by which men, especially former war correspondents, were favoured over women in recruitment, dismissal and promotion decisions.”

That’s rather how the upper echelons in any large company work. It’s not particularly male either.

Perhaps they just wanted it to rain by leaving it at home?

In China the sharing economy seems to have met its match after a startup that rented umbrellas in 30-minute blocks lost nearly all of its stock in just three months.

The company Sharing E Umbrella required a deposit of £2.20 per umbrella and charged about 6p for every half an hour of use, deducted from a minimum top-up of £1. Each GPS-enabled umbrella cost the company about £6.85.