CITY WHISPERS: City slickers in race to be seen at Silverstone

What’s the big debate in the Square Mile? Whether London has lost out to New York maybe? Team Farage or Team Rose? 

No, the real talking point is which social event is the most desirable of the summer.

Ascot brings out the Royals, public school boys fill Lord’s for the cricket and courtside at Wimbledon is a celebrity magnet.

For chief executives and their latest wives, the Chelsea Flower Show has been a must on the calendar for the past decade. But now most events are over and the head count is in, it seems Formula 1 pips them all. 

No doubt talk of struggling share prices was off limits at the British Grand Prix, where WPP boss Mark Read, BT chief Philip Jansen and Tottenham chairman Daniel Levy could be seen hobnobbing with part owner of Aston Martin Lawrence Stroll, as Paris Hilton hovered in the background.

For raw power, Silverstone is the place to be.

Amigo bosses set for hefty pay packets

Collapsed lender Amigo is in the process of winding up its business after a cash crisis earlier this year left it no choice but to shut up shop.

However, the company’s annual report, quietly published last week, shows the firm’s executives are due to waltz out the door with hefty pay packets.

Former boss Gary Jennison, who stepped down in September, pocketed nearly £1.3million for the year to March 2023, including a £180,000 bonus.

His successor Danny Malone, who resigned in May and is currently serving out his notice period, bagged £334,948.

No need for those two to go cap in hand for a loan, then.

Fah Mai eyes Nasdaq listing 

While the global market for flotations is still sluggish, one firm on the move is Fah Mai, a British-Thai whisky venture that is hoping to list its shares on the Nasdaq exchange in New York.

Investors will be able to partake provided they can stump up at least £10,000.

The name Fah Mai might ring a bell for some connoisseurs. Co-founder Daniel Monk is credited as the brains behind the Intrepid, a massive 311-litre bottle of 32-year-old Macallan single malt which sold at auction for £1.1million last year. Bottoms up!

China stops publishing youth unemployment figures 

The Chinese government decided last week to stop publishing youth unemployment figures after joblessness among 16- to 24-year-olds in urban areas hit a fresh record of 21.3 per cent in June.

China-watchers will know this is not the first time the ruling Communist Party has held off releasing economic data to avoid embarrassment.

In October last year, officials abruptly decided to delay weak third-quarter gross domestic product figures during a big party congress that cemented its ruler Xi Jinping’s unprecedented third term in office.

Messrs Sunak and Hunt can only look on in envy.

Contributor: Mark Shapland