Daily Archives: February 23, 2012

Andrew Hill

I wish David Cameron and his government would make their minds up about what they think of business. One week they endorse the stripping of titles from disgraced banking barons and allow the flames of the campaign against bonuses to spread; the next, the UK prime minister is out warning about “dangerous rhetoric” that implies “wealth creation is somehow anti-social”.

It is a bit like the club chairman showing football fans a pre-match video of heinous fouls committed by the visiting team’s players and then complaining when the same fans become abusive during the match.

Mr Cameron — and his opposite number Ed Miliband, who made a cack-handed attempt to start separating business into “good” and “bad” sectors in a speech last year — must start to realise that there is nothing to be gained by such confused debate, and much to lose. Read more

There isn’t much moral high ground in Las Vegas and Steve Wynn failed to take it this week.

Mr Wynn, who pioneered Vegas’s rise from tawdriness to a luxury family resort – and then extended his empire to Macau – spent the weekend not only accusing his former business partner of bribing foreign officials but seizing his $2.5bn stake in Wynn Resorts at a substantial discount. By the time Kazuo Okada woke up on Sunday, his equity had vanished.