John Swinfield's Big Business

John Swinfield

Welcome to Big Business. Business stories and anecdotes from a leading financial Journalist. I’ve spent much of my life writing and making films about business bosses. This Pod’s gossipy, irreverent, informative and fun. Big business is on every week at 11am (GMT) on Wednesdays. If you like the feed .. please don’t forget to click the subscriber button to follow all new content. read less
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HEAVENS ABOVE: Sir Freddie Laker’s low fares and cheap travel.
01-12-2021
HEAVENS ABOVE: Sir Freddie Laker’s low fares and cheap travel.
HEAVENS ABOVE: Sir Freddie Laker’s low fares and cheap travel.In the capricious airline business low cost fliers battle it out. The Hungarian based Wizz Air has collared a chunk of the market and is widely thought to have put in a so-far unsuccessful bid for easyJet. The Irish Ryanair, run by the ebullient Michael O’Leary, is planning to quit the London stock market, blaming its departure on Brexit. Loss-making Flybe, which collapsed in 2020, will fly again in 2022. It operated out of Exeter, but second-time round will fly from Birmingham airport, which the West Midlands mayor, Andy Street, has hailed as excellent news. Aviation’s commercial dog-fights and today’s proliferation of low-cost carriers in Britain, Europe and the US, can be traced back to the 1970’s when Sir Freddie Laker, a flamboyant prince of the skies, took on the giants of flying with his no frills Skytrain. While John Swinfield was making ‘King’s Flight’, a one-hour TV film documentary for Britain’s Channel 4, which profiled the combative Lord King of British Airways, he spent time in the Bahamas on Laker’s yacht, talking to Freddie about the powerful BA and other national fliers who Laker said had ganged up on him to bring about the downfall of his business. Laker was the people’s champion, a David pitted against aviation’s Goliaths. He was once in league with the colourful Harry Goodman, whose rags to riches story saw Goodman open his own airline, Air Europe, and create the International Leisure Group, a major travel company. Laker paved the way for the likes of Virgin, Ryanair, Wizz Air and EasyJet, to challenge the monopoly of flying’s big State carriers.
MARKS & SPENCER: M&S Weathering the storm
24-11-2021
MARKS & SPENCER: M&S Weathering the storm
MARKS & SPENCER: Weathering the stormBritain’s ubiquitous Marks & Spencer (M&S) with over a 1,000 shops and 78000 workers began as a market stall in the Yorkshire city of Leeds in 1884. Like other familiar high street names it’s had a difficult time but new financial figures are encouraging. John Swinfield has known the company for decades. He recalls his friendship with the once-chairman Marcus Sieff and interviewed the current boss, Archie Norman, who at one time ran ITV and the supermarket chain ASDA, selling the latter to the US giant Walmart. As part of M&S’s attempts to rev up its poorly performing clothing sales it’s taken a 25 per cent stake in the eco-online fashion label Nobody’s Child. It’s been working with the brand for a year and has strengthened its involvement by taking a share in it. M&S.com has a close relationship with many well known suppliers including Clarks shoes and dresses by Ghost. Other brands it’s snapped up include the high-end Jaeger. Archie Norman’s right hand man is the skilful chief executive, Steve Rowe. He’s an M&S lifer who started out as a 15-year-old Saturday boy; City rumours suggest Rowe may step down in a year or two. If M&S is finally on an upward trajectory, much of it is down to Rowe as well as Norman. Supermarket buy ups are in fashion. More Square Mile and Wall Street gossip has it that the US equity company, Apollo Global Management, has had M&S in its sights as a possible takeover target.