On This Day in 1980: America severs diplomatic relations with Iran April 7, 2026 The United States severed diplomatic relations with Iran on April 7, 1980, after the Ayatollah Khomeini refused to order the release of the American hostages who had been held at the US Embassy since the previous November, writes Eliot Wilson If you remember good relations between the United States and Iran, you are at least facing [...]
On this day: The death of JP Morgan March 31, 2026 Today in 1913, John Pierpoint Morgan died in Rome having saved the United States from financial catastrophe not once but twice, writes Eliot Wilson Today in 1913, in Rome’s Grand Plaza Hotel, a 75-year-old American died in his sleep. He was a big man, 6’2” and heavyset, with sharp, unsettling eyes and a purple, swollen [...]
On This Day in 1831: America’s first recorded bank heist March 19, 2026 It stands as an archetypal heist: a pair of canny, hardened criminals; a simple but daring plan; a dogged law enforcement official and the tantalising mystery of the missing $63,000. The first bank robbery in America recorded in any detail had set the standard for a whole genre, says Eliot Wilson Have you ever wondered [...]
On This Day: Adam Smith publishes The Wealth of Nations March 9, 2026 Today in 1776, 250 years ago, An Inquiry into the Nature and Causes of the Wealth of Nations was published, discovering rather than inventing the principle that free trade and efficient division of labour create general prosperity making the world richer, writes Eliot Wilson Adam Smith was 52 and had spent most of the preceding [...]
International Women’s Day: Free markets are not the enemy of feminism March 8, 2026 History tells that if there’s one thing women should fear, it’s not capitalism, it’s the collective, says Victoria Bateman Leftist global histories tell the same story when it comes to women. They present us with a happy world in which women were revered and rewarded by their communities until the advent of capitalism ended this [...]
On this day: The collapse of Barings Bank February 26, 2026 On 26 February 1995, 31 years ago today, Baring Bank, one of the City’s most venerable institutions, was declared insolvent after a massive fraud by one of its employees, Nick Leeson, recalls Eliot Wilson In the 1990s, following the wake of Big Bang and the influx of brash but wealthy, “Greed is good, greed is [...]
On this day: Thomas J Watson, father of IBM, was born February 17, 2026 On 17 February 1874, the man who would go on to found the largest industrial research organisation on the planet was born in the tiny town of Campbell, writes Eliot Wilson The town of Campbell, New York, in the Appalachian Mountains had a population of less than 2,000 in 1874. Thomas John Watson, born this [...]
On this day in 1996: the IRA bombs the Docklands February 9, 2026 30 years ago today, two men were killed in a massive explosion at Canary Wharf – and the IRA proved that you can bomb your way to the negotiating table, writes Eliot Wilson At around 5.00 pm, 30 years ago today, a blue Ford Iveco Cargo truck was parked 80 yards from South Quay DLR [...]
On This Day : Space Shuttle Challenger is lost January 28, 2026 On this day in 1986, millions watched on live TV as the Space Shuttle Challenger exploded moments after launch, Eliot Wilson remembers On this day 40 years ago, NASA was preparing to launch the 25th mission of its Space Shuttle programme, STS-51-L, using the Space Shuttle Challenger on its 10th flight. During a six-day mission, [...]
On this day 1571: The Royal Exchange is opened January 23, 2026 The Royal Exchange was opened by Elizabeth I 455 years ago on this day. Eliot Wilson traces the origins of its success.