This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.guardian.co.uk/business/2013/jun/09/archbishop-preaches-to-city
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Archbishop Justin Welby to share a pulpit with City evangelist | Archbishop Justin Welby to share a pulpit with City evangelist |
| (35 minutes later) | |
| Another week, another debate involving the City's great and (trying to be) good about reforming the financial sector. The difference with Wednesday's forum is that it threatens to be quite entertaining, as the headline act is the Archbishop of Canterbury, Justin Welby, who was pondering these issues long before the debates were fashionable (or the BBC's Stephanie Flanders secured a monopoly in chairing them). | Another week, another debate involving the City's great and (trying to be) good about reforming the financial sector. The difference with Wednesday's forum is that it threatens to be quite entertaining, as the headline act is the Archbishop of Canterbury, Justin Welby, who was pondering these issues long before the debates were fashionable (or the BBC's Stephanie Flanders secured a monopoly in chairing them). |
| Back in 1992, Welby penned an essay entitled "Can Companies Sin?", which presented some splendid suggestions on persuading corporations to behave. | Back in 1992, Welby penned an essay entitled "Can Companies Sin?", which presented some splendid suggestions on persuading corporations to behave. |
| "Clearly a company cannot be imprisoned," he wrote, "but a court could sentence it to carry a record of its corporate crimes on its headed paper." | "Clearly a company cannot be imprisoned," he wrote, "but a court could sentence it to carry a record of its corporate crimes on its headed paper." |
| "Secondly, shareholders should have the cost of their companies' wrongdoing vividly presented to them," he continued. "A judge could order that a [fine] be deducted from the next dividend." | "Secondly, shareholders should have the cost of their companies' wrongdoing vividly presented to them," he continued. "A judge could order that a [fine] be deducted from the next dividend." |
| That may sound like the type of City lots of ordinary punters desire, but would it appeal to Barclays boss Antony Jenkins, a former preacher for payment protection insurance who's now a born-again evangelist for corporate responsibility? | That may sound like the type of City lots of ordinary punters desire, but would it appeal to Barclays boss Antony Jenkins, a former preacher for payment protection insurance who's now a born-again evangelist for corporate responsibility? |
| We might find out during Wednesday's debate at St Paul's – where the pair will share a pulpit. | We might find out during Wednesday's debate at St Paul's – where the pair will share a pulpit. |
| Bright outlook for Justin | Bright outlook for Justin |
| There is a broad spread of views on Justin King, the longstanding boss of J Sainsbury. They tend to range from him being (a) a skilled chief executive, if a little too sure of himself (Fleet Street's take); (b) an effective boss of a company operating in a difficult market (the City's current stance); or (c) an exceptional business leader (J King's assessment). | There is a broad spread of views on Justin King, the longstanding boss of J Sainsbury. They tend to range from him being (a) a skilled chief executive, if a little too sure of himself (Fleet Street's take); (b) an effective boss of a company operating in a difficult market (the City's current stance); or (c) an exceptional business leader (J King's assessment). |
| Still, say what you like about him, there are few who question his commitment to the grocer over his past nine years in charge – with some City wags observing that his year-round tan occasionally makes it appear as though King is made in the corporate colours. | Still, say what you like about him, there are few who question his commitment to the grocer over his past nine years in charge – with some City wags observing that his year-round tan occasionally makes it appear as though King is made in the corporate colours. |
| King will front another trading statement this week – no doubt with his usual impeccable style – which the City expects to confirm Sainsbury's as the current leader in its challenging field. Inevitably, he'll also be asked to quash constant retirement rumours too. | King will front another trading statement this week – no doubt with his usual impeccable style – which the City expects to confirm Sainsbury's as the current leader in its challenging field. Inevitably, he'll also be asked to quash constant retirement rumours too. |
| There are, however, tidbits of evidence suggesting King speaks the truth when claiming he'll work past his 10-year anniversary, as the group's website trumpets the opening of "Britain's greenest convenience store" just down the road from his west Midlands home. That suggests he's concentrating on business, rather than potential leisure options. The new shop used to be a tanning salon. | There are, however, tidbits of evidence suggesting King speaks the truth when claiming he'll work past his 10-year anniversary, as the group's website trumpets the opening of "Britain's greenest convenience store" just down the road from his west Midlands home. That suggests he's concentrating on business, rather than potential leisure options. The new shop used to be a tanning salon. |
| Round the Mulberry bush | Round the Mulberry bush |
| Fashion is a brutal business – especially at luxury leather goods maker Mulberry. The company was founded by Roger Saul in 1971 and for 31 years he headed it too. Then his finance director, Godfrey Davis, switched sides in a power struggle with the Singaporean billionaire Christina Ong, and took his job as chief executive and chairman too. | Fashion is a brutal business – especially at luxury leather goods maker Mulberry. The company was founded by Roger Saul in 1971 and for 31 years he headed it too. Then his finance director, Godfrey Davis, switched sides in a power struggle with the Singaporean billionaire Christina Ong, and took his job as chief executive and chairman too. |
| That bout of handbags between the old friends actually turned out extremely well for shareholders, as the company's value soared over the next decade. Until 2012, that is, when owning Mulberry stock went out of fashion. The share price has almost halved in the past year, after the group introduced its new line in profit warnings, the latest of which came in March. | That bout of handbags between the old friends actually turned out extremely well for shareholders, as the company's value soared over the next decade. Until 2012, that is, when owning Mulberry stock went out of fashion. The share price has almost halved in the past year, after the group introduced its new line in profit warnings, the latest of which came in March. |
| This week the company announces its full-year results, which are expected to show pre-tax profits down by about 28% at £26m, partly on the back of a weak Asian market. | This week the company announces its full-year results, which are expected to show pre-tax profits down by about 28% at £26m, partly on the back of a weak Asian market. |
| Still, for those who believe that new product launches mean there's still much to be optimistic about, there's this spring's release of Mulberry's new Willow bag. So that's a leather and Willow strategy, then. | Still, for those who believe that new product launches mean there's still much to be optimistic about, there's this spring's release of Mulberry's new Willow bag. So that's a leather and Willow strategy, then. |
| Our editors' picks for the day's top news and commentary delivered to your inbox each morning. |