In the City

Spending on big-ticket items like home renovations will be limited, but more affordable gifts are growing in popularity—including the “snuggle hoodie.” Bloomberg Opinion columnist Andrea Felsted and UK retail reporter Katie Linsell join Allegra and Francine to unpack the retail landscape this holiday season and what we can expect in 2024. See omnystudio.com/listener for privacy information.

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“Nice people become horrible people” during an election year, says Richard Harrington. But as the ex-Tory minister who recently led a government review of the UK’s approach to attracting foreign investment, he adds that he hopes his recommendations will be embraced by Labour and Conservatives, rather than being “sucked into” a political fight.  On this week’s episode of In the City, Harrington joins Francine Lacqua and Allegra Stratton to discuss why the UK’s attractiveness as an investment destination has faded. A former parliamentary under secretary of state at the Department for Business, Energy and Industrial Strategy, Harrington complains the government is “old fashioned” and disorganized.See omnystudio.com/listener for privacy information.

When former Unilever Chief Executive Officer Paul Polman was approached by Kraft Heinz with an offer many would find too good to refuse—a $143 billion takeover bid with a personal payout of $110 million—he says he turned it down. “They think everything is for sale,” he says. “Morals are not for sale.”Polman, 67, who worked for Procter Gamble and Nestle before Unilever, joins David Merritt and Francine Lacqua on this week’s In the City  to share lessons he learned while CEO, and why he says running a company is more than maximizing shareholder returns. “If you would listen to all the shareholders and do what they were asking you to do, your company would be bankrupt before you knew it.”See omnystudio.com/listener for privacy information.

Former Unilever CEO Paul Polman cautions those with high expectations for this week’s summit in Dubai. But he says there’s hope in the private sector. He joins Dave and Fran as the COP28 climate summit kicks off. See omnystudio.com/listener for privacy information.

Prime Minister Rishi Sunak discusses the UK's economic recovery, tax cuts, addressing illegal migration, and supporting Israel's right to self-defense and a two-state solution.

Francine Lacqua sat down with Allegra Stratton, Editor-in-Chief John Micklethwait, Opinion Columnist Adrian Wooldridge and Head of Government and Economics Stephanie Flanders to discuss the Autumn Statement at the UnHerd club in Westminster. See omnystudio.com/listener for privacy information.

Rishi Sunak’s government is running out of time to win back voters. Bloomberg City editor Katherine Griffiths joins In the City hosts David Merritt, Francine Lacqua and Allegra Stratton to unpack Chancellor Jeremy Hunt’s pledges in this week's budget. See omnystudio.com/listener for privacy information.

Jennifer Welch, chief geoeconomic analyst at Bloomberg Economics, joins to discuss how Joe Biden and Xi Jinping came together for a successful meeting following a long chill.We also unpack the reception Xi got from top American business executives at an exclusive dinner, as well as the surprising announcement that former UK prime minister David Cameron was returning to politics. See omnystudio.com/listener for privacy information.

Martha Lane-Fox, president of the British Chambers of Commerce, discusses the impact of Brexit on UK businesses. She emphasizes the effect on the skills base. NFX General Partner Pete Flint is optimistic about the UK's chances of becoming a business hub like San Francisco. However, he advises against companies going public in the UK.