New people, new ways, new ideas - and not all of them will turn out to be good either. As, possibly, here:

Shein’s £50bn listing

Donald Tang, the executive chairman of the China-founded online fashion retailer, could be in the UK this week as the company prepares to list in London. Its executives have already met Labour MPs and received an indication of support for its listing, stating that “raising investment” is among its “missions for government”.

However, the flotation has faced strong headwinds: from questions over Shein’s valuation and alleged labour malpractices to an EU plan to impose import duty on cheap goods. Shein pursued a London ­listing after ambitions for a US listing were seemingly frustrated by US legislators.

Reynolds will need to make it clear that Labour will not simply wave any listing through, while at the same time the City fights to ­protect its status on the world financial stage in the face of an exodus of stock-market big names.

Whether the low value customs exemption remains and so on is, obviously, entirely a matter for the government of the day. But what is this idea that the government - or the Minister responsible - should be approving or not each individual stock market listing?

No, we really do not want to have that sort of political interference. Nor, obviously, the sort of sucking up to the Minister that the exercise of such a power would, inevitably, entail.

If the London Stock Exchange - a private company recall - desires or does not desire Shein to be listed then that’s up to the LSE. Or, rather, should be and keep the politicians out of it.#

Tim Worstall