British home secretary and soon-to-be prime minister Theresa May departs a cabinet meeting in 10 Downing Street, London, on July 12, 2016. Chris Ratcliffe/Bloomberg
British home secretary and soon-to-be prime minister Theresa May departs a cabinet meeting in 10 Downing Street, London, on July 12, 2016. Chris Ratcliffe/Bloomberg

Clergyman’s daughter and peer of Benazir Bhutto: Meet the UK’s new PM, Theresa May



London // She has been a chairman of her party, minister for women and equalities and until today was just three weeks short of becoming Britain’s longest-serving interior minister for 100 years. But to many people – and not just her detractors – Theresa May, the woman who today will move into Number 10 Downing Street as the second woman to hold the office of British prime minister, is best known for her flamboyant taste in footwear.

If that was how her detractors hoped to paint her as a frivolous person, it hasn’t worked. After 19 years in parliament, Mrs May, 59, has earned a reputation for toughness and for getting things done. She inspires loyalty among her staff and encourages younger women with political ambitions.

Even her political opponents admire her. Yvette Cooper, who was Mrs May’s opposite number in the Labour party says, “I respect her style. it is steady and serious.” And Nick Clegg, who was deputy prime minister during the Conservative/Liberal-Democrat coalition government from 2010-2015 and frequently clashed with her emerged from a particularly difficult meeting with her, declaring, “I’ve grown to rather like Theresa May.”

For all her abilities, the fact that the Conservatives see her as the person most able to unify those on either side of the Brexit debate both within her party and the country at large has as much to do with what Theresa May is not.

Unlike David Cameron, she does not hail from British upper class privilege. Her father was a clergyman in the Church of England and she was educated almost entirely in state schools. At weekends she worked in a bakery to earn pocket money.

She studied geography at Oxford university, where she was friendly with Benazir Bhutto, the future prime minister of Pakistan. In fact it was Bhutto who introduced Theresa Brasier, as she was then, to Philip May, who has been her husband since 1980.

Nor has Mrs May’s working life been confined to the rarefied world of politics. After university, she worked at the Bank of England and she entered parliament via the old-fashioned route, through local politics. She did not get involved in the bitter arguments that tore the Conservatives apart in the EU referendum and though many suspect her heart was with the Leave campaign, she stood by the prime minister and supported Remain. But as prime-minister-to-be she has already asserted that there can be no going back on the decision to leave the European Union. “Brexit means Brexit,” she said,

Inevitably, she is already being compared to Margaret Thatcher, Britain’s first female prime minister and there are many similarities. Both are clever girls from modest backgrounds who got to the top through ambition and hard work. Neither ever fitted in with the clubby, masculine ambience of parliament neither let that hold them back. Like Mrs Thatcher, Mrs May is known for her ultra-seriousness and zero small talk.

She is not entirely humourless, however. One of the prizes at a Conservative party fund-raising event was an afternoon of shoe-shopping with her. But as she takes over the helm of government in one of the most turbulent periods of recent British history, it will be a long time before anyone dares mention Theresa May’s shoes again.

foreign.desk@thenational.ae

Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

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Engine 3.0L twin-turbo V8

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Name: Qyubic
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Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

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