The Russian army and common folk weren’t the only obstacles to Napoleon’s barbarous plans to destroy the Kremlin in his hated Moscow. Mother Nature also lent a hand. A not-so-warm welcome Moscow was very different to other European cities that crumbled before the military genius of Napoleon. Here, no crowds of locals came to gawp at the marching columns of theGrande Armée, and no local officials rushed to present him with the keys to the city. Instead, the French emperor was met by an empty, deserted, hostile city, which, to compound his misery, was soon totally engulfed in flames. Observing the glow of the Moscow fires, the dumbfounded Napoleon is said to have remarked: “What a terrible sight! They’re burning the city themselves… What resoluteness! What people! They are Scythians!” The French occupation of Moscow lasted just under two months. The situation for Napoleon was dire and getting worse. HisGrande Armée was turning into … [Read more...] about Why Napoleon failed to blow up the Kremlin
Why businesses fail
Matthew Lynn 19 March 2019 9:58 AM 19 March 2019 9:58 AM Share Twitter Facebook LinkedIn Email Whatsapp It would only encourage irresponsible lending. Deficits would run out of control. The rules of the single currency would be undermined, and voters would lose faith in the euro. Over the last few years, the Germans, the European Central Bank, and the EU itself, have been adamant that banks shouldn’t be bailed out inside the eurozone. Along the way, Greek, Cypriot, Italian and Irish banks have all been allowed to go to the wall or squeezed to extinction. But hold on. There seems to be an exception to that austere financial regime. Big German banks. With the once mighty Deutsche Bank in serious trouble, it turns out there is nothing wrong with the government orchestrating what amounts to a rescue after all. In the years since the eurozone crisis first blew-up in 2011, German policy-makers have insisted that bank bailouts would only make matters … [Read more...] about Why Greek, Italian and Cypriot banks can go the wall, but German ones can’t
It seems extremely likely that there will be more collapses in the commercial airline sector, and more consolidation as weaker players get weeded out, says Loizos Heracleous. Yet another airline has collapsed – this time British operation Flybmi, costing almost 400 jobs as hundreds of flights were cancelled at short notice. It is the latest in a string of recent European airline failures, including Air Berlin, Alitalia, Monarch, Primera, Azur and Cobalt. This is despite years of good growth in worldwide air passenger demand, including in Europe. So why are so many airlines going out of business? Aviation is an unattractive industry from an investor point of view at the best of times, notwithstanding the passenger growth. Aeroplanes are expensive assets with few alternative uses, which limits the ability of airlines to reduce their capacity during lean periods – compared to, say, a manufacturing business that can close a plant and lay off workers. Airlines also have to … [Read more...] about Airlines are going bust in droves, so why do so many people try to launch them?
PUBLISHED: 16:47 19 February 2019 | UPDATED: 16:47 19 February 2019 Sarah Chambers Shirley Aldous, director, with daughter,Tarnia Robertson, director, and Tarnia's father, Colin Aldous, chairman of Ufford Park Woodbridge Hotel, Golf and Spa Picture: PAUL NIXON Paul Nixon Photography 01473430707 07904296577 Statistics suggest that as a family-run concern, it’s surviving against the odds. But four years after taking over the reins from her parents, Tarnia Robertson’s hotel business is still going strong. Ufford Park Hotel, Golf and Spa Picture: GREGG BROWNOnly a third of family-owned firms last into a second generation, figures suggest, but Tarnia’s long apprenticeship under parents Shirley and Colin Aldous have stood her in good stead: four years after she became managing director at Ufford Park Woodbridge Hotel – enabling her parents to take a back seat – she has already taken the business to new heights.MORE – Record … [Read more...] about Why do only a third of family-owned businesses survive into second generation?
18 February 2019 Brazil Three weeks ago, a tidal wave of mining waste from a failed dam killed at least 165 people, with 155 still missing, in the Brazilian state of Minas Gerais. Nick Terdre asks: why has nothing changed since Brazil’s last environmental disaster? ‘This really messes with you emotionally, because it makes you relive the day of 5 November, you know? It resurfaces with so much force,’ says Marino, his voice catching. ‘There is so much sadness and anger, because we see the neglect of what happened in Mariana is much bigger than we thought. The people who died in Mariana are nothing more than statistics today, they are just numbers.’ Marino D’Angelo Junho was one of those living downstream from the Fundão dam near the town of Mariana, also in Minas Gerais state, when it burst on 5 November 2015. The collapse sent a tidal wave of mud along the 620km length of the River Doce and a plume of waste into the Atlantic Ocean … [Read more...] about Why Brazil fails to learn from its mining catastrophes