Downloading PDF. Please wait... Issue 2659

The Troublemaker – Traders are ‘gutted’ at being banned from drinking at work

This article is over 5 years, 1 months old
Issue 2659
Tory Andrea Leadsom visiting the infamous London Metal Exchange in 2014
Tory Andrea Leadsom visiting the infamous London Metal Exchange in 2014 (Pic: HMTreasury/Flickr)

Traders at the London Metal Exchange (LME) are fuming at a new rule that means they can’t get drunk at work.

The rule affects around 120 people in the “ring”—a circular trading floor where brokers help set global prices for copper, nickel and aluminium.

One trader declared that he was “gutted” about the change. “It’s a small minority who’ve ruined it for the majority,” whined another.

Brexit Party leader Nigel Farage declared, “Puritan rules will not make the LME more profitable.” He made the most of liquid lunches during his time at the LME in the 1990s.

“I worked damned hard right up until lunchtime every day,” Farage bragged.

Veteran metals trader Malcolm Freeman said, “I have seen the floor in the afternoon and there are those who overdo it.”

LME boss Matthew Chamberlain said the rules are aimed at promoting a “respectful environment where everyone feels welcome and nobody feels excluded or intimidated”. It’s taken other measures to drag itself into the 21st century.

In May the LME appointed its first ever female chair, former banker Gay Huey Evans. And it has said that only “responsibly sourced metals” will be traded from 2022.

The exchange is desperate to move away from damaging controversies. Last year metals trader Gerald Group hosted an event at the Playboy Club in Mayfair.

After criticism, it launched its first ever code of conduct in April this year.

This said that LME-branded events shouldn’t take place at venues that might make some “market participants” uncomfortable.

The drugs are ok…as long as it’s Gove

Daily Mail columnist Sarah Vine has shifted to embrace a more compassionate approach.

Vine is well known for launching vicious attacks on people she doesn’t like, usually women.

She once denounced food writer Jack Monroe for having a child.

According to Vine, Monroe “should have taken greater precautions” and doesn’t take “responsibility for her actions”.

She doesn’t like women who drink either.

Or, as she calls them, “paralytic revellers causing mess and mayhem” and “alcohol-sodden, helpless and hapless wrecks”.

But when it comes to her drug-using husband Michael Gove, it’s a different story. He apparently deserves praise for being “honest” about his drug use.

“I have always believed that past mistakes should not determine a person’s future,” she wrote in the Mail last week.

“What matters is not where you come from, it’s where you are going.”

What really matters for Vine is whether you’re her wealthy husband or someone else.

Prostitution threat of Universal Credit

The Tories’ hated Universal Credit (UC) benefit is pushing women into prostitution.

One claimant, a 21 year old carer, gave evidence to a hearing in parliament last week.

She described how UC left her with just £52 to live on and forced her to use food banks.

“I now have to do five or six duties of sex before I can pay my bills,” she told MPs on the work and pensions committee.

“Last week I did two 12-hour shifts in a row. That’s a lot. I think, ‘I have my fuel and food but tomorrow I must do it again to pay my rent’.

“It’s awful.”

A school has appealed to BBC Children in Need to deal with the funding crisis that has followed Tory cuts.

Downshall primary school in east London turned to the BBC to deal with the cuts.

It has slashed two support staff and cut reading support assistants.

British Steel – 32,633 jobs could be gone

More than 32,000 workers could be thrown on the dole because of the collapse of British Steel.

That’s 7,000 more than was initially predicted.

Research from Oxford Economics predicted bigger job losses in steel supply chains.

British Steel has 4,238 workers.

Staff working in supply chains are estimated to number 28,395—meaning that 32,633 workers are at risk.

Cops give out blunt knives to stop violence

Nottinghamshire Police has a fresh idea to tackle domestic violence.

It doesn’t involve tackling the offenders. Instead, the force is handing out blunt knives to victims who have been stabbed.

Cops say the knives can cut food but can’t be used to stab anyone.

Over 17 percent of knife crimes reported to the force in 2018/19 were related to domestic violence.

Chuka leaves – again

Chuka Umunna has left Change UK to join the Lib Dems.

Maybe it’s because he got fed up of all the name changes.

Change UK wants to change its name for a second time. It started off being called The Independent Group. It now wants to be called The Independent Group for Change. If anyone still cares.

Know your enemy

Sir Philip Green – disgraced billionaire boss

  • Green last week blamed journalists for his poor public image
  • He said they have made people “jealous” of him
  • Green faces sexual harassment allegations
  • After overseeing the downfall of Arcadia and 1,000 job cuts he said, “You can’t get it all right.”


Nigel Farage’s security bill He says Jo Brand’s comments mean this will rise “significantly”


William Sitwell, fired from Waitrose magazine after jokes about killing vegans, has lost his job at Saga

Sign up for our daily email update ‘Breakfast in Red’

Latest News

Make a donation to Socialist Worker

Help fund the resistance