Vulnerable: Britain is the only advanced country that believes it is good policy to tighten fiscal and monetary policy while heading into recession.

ALEX BRUMMER: Don’t sell Britain short: warning about sterling’s vulnerability to further falls, from hedge fund manager, not a crash

One has to think that a warning about the vulnerability of the pound sterling to further falls, by a leading hedge fund manager, is not an accident.

By allowing the message to appear in public prints, Tory donor Chris Rokos is set to make something happen.

Why else would you share your insights beyond a small group of customers giving everyone else a business opportunity?

Vulnerable: Britain is the only advanced country that believes it is good policy to tighten fiscal and monetary policy while heading into recession.

The founder of Rokos Capital Management is not the only person to disapprove of Britain’s prospects. Bank of England deputy governor Dave Ramsden, a former Treasury mandarin, suggested this week that the UK still has work to do to restore its reputation after the mini-budget shambles.

One wonders what he has in mind. After all, Jeremy Hunt not only abandoned nearly all of the Truss-Kwarteng tax cuts, he put on a hair shirt and delivered a revenue-raising budget that will push millions of ordinary citizens into higher tax brackets. In fact, North Sea investors are reconsidering investing in the UK after the government hit the sector with a higher and extended windfall tax.

Britain is the only advanced country that believes it is good policy to tighten fiscal and monetary policy while heading into recession. The UK’s most well-dressed economist, John Maynard Keynes, who preferred demand support in tough times, would not have approved.

The strange thing about Rokos’ intervention is that he fails to acknowledge that the pound is now at $1.21 from its low of $1.03 since Hunt became chancellor. In addition, a competitive pound, since the beginning of the year, helps to reactivate foreign investment.

Schneider’s bid for minority software group Aveva and German champion Devro are examples. There is more. Sky, owned by Comcast, this week opened a new innovation center on its campus in Osterley, London, reflecting the current boom in British film and creativity.

The damage to reputation is in the eye of the beholder.

food waste

The £667m bid for Lanarkshire sausage skin maker Devro by secretive German group Saria gives cause for pause.

Unsurprisingly with a 65 percent premium to Thursday’s share price, the board, chaired by Steve Good, has snapped the bidder’s hand off. Good notes that the offer is 92 percent higher than when the company was first contacted.

That raises questions about why the stock rallied before the offer was revealed. There are other reasons to look closely at the transaction. This is a blow to the Scottish government as there are very few listed companies north of the border.

As with the purchase of Morrisons by Clayton, Dubilier & Rice, the sale of public sector companies to the private, which play an important role in the UK food supply chain, threatens Britain’s food security.

Germany may seem like a natural home for a sausage skin pioneer, but very little is known about the secretive billionaire Rethmann family behind the bidder. The story on the controlling group’s website is sketchy about the 1940s experience. There is a lot of nonsense in the bid document about strategic plans and a vague promise about no material reductions in headcount. How useful it will be when Devro is out of public view and the mind is hard to gauge.

Devro follows UK food producer Dairy Crest, bought by rival Muller in 2014 from German hands. Britain’s free and easy capital markets and low stock valuations are tasty food for foreign predators.

pyrrhic victory

Schneider has weathered attacks from dissident investors and won his fight to take full control of Cambridge’s £10bn industrial software champion Aveva. Fund managers always find it hard to resist cash purchases.

But there are far more important issues at stake. Aveva joins Arm Holdings in an uncertain offshore property, with intellectual property, based on the UK’s big research universities passed on to offshore predators.

At Aveva, as at Arm, there is a risk of vital Western technology leaking into China.

Foreign acquisitions also undermine headquarters functions, create uncertainties for colleagues, and often lead to erosion of the nation’s corporate tax base.

What a great opportunity for the late Business Secretary, Grant Shapps, to ripple his muscles and order a full scrutiny, under the new security powers of the Government.