Aston Martin warns on profits
Plus, more than 85 per cent of businesses say they have faced a crisis, what Rick Astley can teach us about giving up and 60 years of the bullet train
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Business Agenda
A summary of the most important business news
1. Shares in Aston Martin Lagonda have fallen by more than 20 per cent today after the luxury car maker warned that it now expects profits to drop this year. The company blamed “supply chain disruption and weak demand in China”. You can find Aston Martin’s statement here.
2. More than 85 per cent of businesses say they have faced a crisis, according to a survey of more than 500 leaders by FGS Global. The report also says that the leaders of big businesses expect crises to become more prevalent due to political uncertainty and technological change. You can find the report here.
3. The Financial Times has a fascinating interview with Greg Jackson, the founder and chief executive of Octopus Energy. “Most entrepreneurs I know are not lovers of risk, they’re lovers of control,” he says. Read the full interview here.
4. From the weekend papers, The Sunday Times spoke to Richard Brindle, the founder of insurance companies Fidelis and Lancashire Holdings. “I don’t know about ‘power hungry’. But I’m certainly hard-driving,” he says. “Yeah, I don’t suffer fools gladly. I take the view that we are very lucky to live in a very developed country and make a lot of money, and we should work hard and take the opportunity; not always be going on about our entitlements and grievances.” You can read the interview here.
5. Also from The Sunday Times, a look at the battle between father and son at the top of the music industry. Sir Lucian Grainge runs Universal Music while Elliot Grainge is at rival Atlantic Music. “It’s awkward,” one industry source is quoted as saying. You can find the piece here
Business Question
What percentage of work-age adults across Great Britain say they have been struck by a moment of work-based inspiration while on holiday?
A. 68 per cent
B. 56 per cent
C. 43 per cent
D. 29 per cent
The answer can be found at the bottom of the page.
Business Thinker
Deep dives on business and leadership
By Sarah Vizard
🎙️ What Rick Astley can teach us about giving up
Astley had a lucrative pop career, with his 1987 hit Never Gonna Give You Up staying at number one for five weeks and becoming the best-selling single that year. But at just 27, Astley quit to look after his daughter, only being thrust back into the spotlight 20 years later by the Rickrolling meme. This piece from the Financial Times looks at his decision to walk away and what others can learn from it.
🤖 ‘We’re building the UK’s first $1tn company’ – Amazon Alexa creator’s new startup
Sifted has an interview with William Tunstsall-Pedoe. He sold his start-up Evi to Amazon in 2012 – and it went on to become Alexa. He now has a new venture, Unlikely AI, that uses modern neural network approaches to AI (used by large language models like Open AI’s ChatGPT) and earlier Symoblic AI architecture in a type of AI known as neuro-symbolic. He talks about his desire to build the UK’s first $1tn company and why he doesn’t want to sell to a US tech business again.
🔗 “Help: my team doesn’t feel connected any more”
Owen Eastwood is a performance coach who works with sports and corporate teams, focusing on team culture and leadership. In this episode of the Eat Sleep Work Repeat podcast from former Twitter executive Bruce Daisley, the two discuss how to build a stronger team – from establishing effective communication to foster an environment that boosts innovation and energises individuals.
Business Quote
Inspiration from leaders
“If everyone is moving forward together, then success takes care of itself.”
– Henry Ford
Business Leader
The best of our content
🌍 Meet the business leader helping companies expand to Africa
✍️ The power of a story: Redefining success in a data-driven world
💬 5 insights language-learning companies can offer us
And finally…
The bullet train turns 60 this year so the Financial Times’s Tokyo bureau chief Leo Lewis has done a deep dive into the history and impact of a mode of transport that defines Japan. While in the UK we complain about the cost of trains that never run on time, in Japan it is possible to travel 200 kilometres for less than £42 and arrive on time and in style.
The piece is well worth your time, even if all you do is watch the YouTube video from British Pathé announcing its launch. You can read it here.
The answer to today’s Business Question is D. 29 per cent.
