Business
Why Andy Burnham Should Take Andy Street’s Counsel on UK Growth
There is a particular sort of Englishman who can walk into a room full of sceptics, sceptical bankers and business owners like me, sceptical councillors and sceptical journalists with their arms folded and their expense-account pastries going cold, and leave forty minutes later having quietly persuaded the lot of us that the country is not, after all, finished. Andy Street is that Englishman.
I spent an afternoon recently listening to him lay out Prosper UK, the movement he has launched with Ruth Davidson to win back the seven million voters who feel they have nowhere left to put their cross, and I came away thinking something I had not thought in a worryingly long time. Competence, it turns out, is a political philosophy all on its own.
From having headed up CBM, the publishers of Business Matters, for over two decades I have spent enough years watching politicians promise the moon and deliver a damp car park to be cured of any romance about the lot of them. But Street is a different animal, and the reason is dully, gloriously unsexy: he has actually run things. He spent the best part of a decade as managing director of John Lewis, a shop that, last time I checked, managed to sell socks without bankrupting the nation. Then he spent seven years as Mayor of the West Midlands, during which something like 100,000 jobs arrived and roughly £10 billion of investment followed them through the door. He did not tweet the economy into existence. He went out, in an unfashionable suit, and got it.
Prosper UK is, in a sense, the same instinct dressed for national service. Davidson and Street reckon there are seven million Britons who believe in enterprise, sound money and public services that actually work, yet feel that no party will own all three at once. Tens of thousands signed up within a fortnight, which tells you the hunger is real. You can sneer at the centre ground all you like, and plenty of clever people do, but it is where most of the country quietly lives and works and pays its taxes.
Which brings me, inevitably, to the other Andy.
By the time you read this, Andy Burnham may well be measuring the curtains in Downing Street. The man who spent years as the King in the North, having decamped to Westminster as the new Member for Makerfield, is now the overwhelming favourite to lead the country, and he has arrived with a genuinely interesting prospectus. His “No 10 North”, the plan to physically wrench decision-making out of Whitehall and plant it in Manchester, is the boldest thing anyone has said about the British constitution in years. You can read the full sweep of it in TIME’s account of his economic and devolution agenda, and whatever you make of the politics, the ambition is real.
Here is the thing that nobody in either tribe seems willing to say out loud. These two men are, on the economy, arguing for almost exactly the same thing.
Both believe the British state is too centralised, too timid and too obsessed with the square mile around the Treasury. Both have spent their careers proving that a metro mayor with real powers can shift the dial in a way no Whitehall mandarin ever has. The Institute for Government has documented how Greater Manchester’s mayoralty became the template the rest of the country now copies. And the case for going further is hardly some fringe obsession of mine; Business Matters has been making it for years, from the academics arguing that regional disparities can be tackled by more devolution to the London business lobby that, remarkably, agrees Burnham is right to put devolution front and centre.
So why am I urging the incoming Prime Minister to take a quiet cup of tea with a Conservative he beat to nothing? Because Burnham has the mandate and Street has the manual.
Burnham is a brilliant campaigner, a man who can summon a crowd and a cause with equal ease. But running a national economy is not a rally. It is procurement, planning, skills funding, the unglamorous grinding business of getting a tram line built before the next election rather than the one after. Street has done precisely this, at scale, and he has done it while keeping the private sector in the room rather than haranguing it from the steps outside. When Japanese investors poured £118 million into Greater Manchester, business leaders rightly warned that Whitehall must now match that confidence. Confidence is built by people who deliver, not people who announce.
There is a national vice we really must shake off, and it is the belief that wisdom only ever comes wrapped in your own colours. The Americans call it tribalism; I call it self-harm. If the next Prime Minister genuinely wants to rewire Britain, he could do a great deal worse than borrow the wiring diagram from the one man who has already done the job and lived to tell the tale.
Sit down with Street, Andy. Order the good biscuits. Listen. The economy you are about to inherit is far too important to leave in the hands of people who merely agree with you.
Business
8 ETF Winners in the ‘Pay Me Now’ Trade
8 ETF Winners in the ‘Pay Me Now’ Trade
Business
lastminute.com N.V. 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:LSMNF) 2026-08-01
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
Business
Six Indian cos among BusinessWeek’s top 100 Infotech firms
NEW DELHI: Notwithstanding the turmoil in global economic environment, as many as six Indian firms, including Reliance Comm and Bharti Airtel, have been named among top 100 best-performing infotech companies in the world by a US magazine BusinessWeek.
The BusinessWeek’s latest annual list ‘The Infotech 100’, which ranks the firms on the basis of shareholder return, return on equity, total revenues and revenue growth, has ranked telecom major Bharti Airtel at the 21st position followed by Reddington India (55th) and RCom (66th).
The list is topped by US firms –Amazon.com and Apple– who have taken the top two spots this year. However, the magazine said in an accompanying report that “the dominance of US companies is in decline, the country has 33 companies among the IT 100 this year, down from 43 in 2007.”
Other Indian firms on the list, includes — Azim Premji-led Wipro at the 74th position, Satyam at 91 rank and HCL Technologies has been ranked at the 95th position among the list of 100 firms.
South African telecom firm MTN Group, which is in exclusive talks with Anil Ambani Group flagship firm Reliance Communications, has been ranked at the 12th position in the global list even ahead of global IT giants IBM and Microsoft, which are at 13th and 23rd ranks in the list, respectively.
Besides, the other fast emerging country China also has six companies among the top 100 Infotech companies in the world.
The magazine has compiled the information for the list by sorting through the financial results of 30,500 publicly traded companies and has ranked the technology players on four criteria –shareholder return, return on equity, total revenues and revenue growth.
The companies leading the list are those with the lowest aggregate ranking.
The companies which qualified had to have revenues of at least 300 million dollar then the collection of about 800 companies was divided into eight industry categories, such as software and semiconductors.
“Companies whose stock price has dropped more than 75 per cent, whose sales shrank, or where other developments raised questions about future performance were eliminated from contention.
“We also dropped some phone companies whose monopoly or near-monopoly power gives them an unfair advantage over competitors,” the magazine added.
Business
Treasury Warns Banks It Might Intervene in Dollar-Yen Exchange Rate
The U.S. Treasury Department has informed banks that it might make currency trades on Friday to support the Japanese yen and strengthen its exchange rate against the dollar, according to a person familiar with the matter.
The message was delivered by the Treasury to major banks on Friday via the New York Fed, which acts as the Treasury’s agent for trades in financial markets. Some banks were told to have executable trades ready to exchange Japanese yen for euros, according to people familiar with the matter. The U.S. holds some of its foreign-currency reserves in euros.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Business
Chip Stocks Are on Pace for Worst Month Since 2008
Chip stocks are on track for their worst monthly performance in nearly two decades.
The Philadelphia Semiconductor Index, or SOX, was up 2% on Friday, extending Thursday’s tech-dominated relief rally.
However, Friday’s gains were far from enough to offset what’s been a tough month for the semi group. In fact, the SOX is on track for its worst monthly performance since 2008, according to Dow Jones Market Data.
Business
Wait for more signals before turning positive
Therefore, immediate rallies would be interpreted as corrective in nature until the medium-term technical parameters turn positive. The recent upmove in the Sensex since the low of 12514 pts has been very sharp. The upside gap of July 23, 2008 had created a bullish ���Island Reversal Gap��� on the daily charts between 14510 pts and 14519 pts.
Normally, the implications of this on the medium-term outlook would be very positive, especially since the ���Island��� comprised of 22 trading sessions. When a stock indicates an uptrend, trades above the gap which occurs, then gaps back down and trades below the initial price, an island reversal has occurred.
However, the Sensex has since run into a strong resistance zone between 15026 pts and 15390 pts. The monthly mid-point of June 2008 is at 15026 pts. The 50% retracement level of the fall from the May 2008 peak (17735 pts) is at 15124 pts. The positive implications of the bullish ���Island Reversal Gap��� would thus get negated if the Sensex has a daily close below 14104 pts (the close on July 22, 2008). The Sensex is then expected to have an initial downside of 13513 pts, the 61.8% Fibonacci retracement level of the recent rise from 12514 pts to 15130 pts.
If the bearish ���Island reversal gap��� of 14484-14568 pts is immediately filled and the Sensex manages to decisively overhaul the resistances between 15130 pts and 15390 pts, the ongoing upmove would continue. The Sensex may then test higher levels between 16618 pts and 16860 pts.
The 78.6% Fibonacci retracement level of the fall from the May 2008 peak is at 16618 pts while 16860 pts is the 50% retracement level of the entire fall from the January 2008 peak. Hence, one would await further confirmation before turning positive on the medium-term outlook.
(The author is VP of technical research at Darashaw)
Business
Jardine Cycle & Carriage Limited 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:JCYGY) 2026-08-01
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Business
Capital One says it closed Trump Organization’s accounts after anti-money laundering probe

Capital One says it closed Trump Organization’s accounts after anti-money laundering probe
Business
Cenovus Energy Inc. 2026 Q2 – Results – Earnings Call Presentation (TSX:CVE:CA) 2026-08-01
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Business
Fluence Corporation Limited 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:EMFGF) 2026-08-01
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
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