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Peter Kyle’s quest for UK’s first $1tn firm is honourable, but he is overselling state activism | Nils Pratley

Business secretary exaggerates role of the British Business Bank and the National Wealth Fund in nurturing firmsIs the business secretary, Peter Kyle, suffering from SpaceX fever? It must be something of that sort because his launch this week of a “concierge service” to allow fast-growing companies to navigate Whitehall bureaucracy came with an extraordinary pitch. The new service is “part of his [Kyle’s] quest to nurture the UK’s first trillion-dollar firm,” said the official announcement.

The Guardian UK 11h ago

Peter Kyle’s quest for UK’s first $1tn firm is honourable, but he is overselling state activism | Nils Pratley

Business secretary exaggerates role of the British Business Bank and the National Wealth Fund in nurturing firmsIs the business secretary, Peter Kyle, suffering from SpaceX fever? It must be something of that sort because his launch this week of a “concierge service” to allow fast-growing companies to navigate Whitehall bureaucracy came with an extraordinary pitch. The new service is “part of his [Kyle’s] quest to nurture the UK’s first trillion-dollar firm,” said the official announcement.

The Guardian Politics 11h ago

Peter Kyle’s quest for UK’s first $1tn firm is honourable, but he is overselling state activism | Nils Pratley

Business secretary exaggerates role of the British Business Bank and the National Wealth Fund in nurturing firmsIs the business secretary, Peter Kyle, suffering from SpaceX fever? It must be something of that sort because his launch this week of a “concierge service” to allow fast-growing companies to navigate Whitehall bureaucracy came with an extraordinary pitch. The new service is “part of his [Kyle’s] quest to nurture the UK’s first trillion-dollar firm,” said the official announcement.

The Guardian Business 11h ago

SpaceX will get off the ground – but a descent from a silly valuation must follow | Nils Pratley

Investors will buy into the market-leading tech and cult of Musk despite a price that is defying gravity“Our mission,” says the opening sentence of SpaceX’s listing document with a straight face, “is to build the systems and technologies necessary to make life multi-planetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars. ”The last bit has an echo of the laughable WeWork, which was going to “elevate the world’s consciousness” via the...

The Guardian Business 6d ago

EasyJet is an obvious takeover target, but US approach may not be a flyer | Nils Pratley

Castlelake’s move raises questions over valuation and ownership rules as well as whether Stelios Haji-Ioannou could throw a spanner in the worksEasyJet says US takeover bid would be ‘highly opportunistic’A share price gain of only 10% on a possible takeover approach is a meek reaction. If the stock market truly believed that Castlelake, a US investment fund, stood a decent chance of buying easyJet, you would expect the target’s stock to fly significantly higher. Scepticism is the right...

The Guardian Business 9d ago