Capital (4 page)

Roger’s discomfort with Mark was based on the fact that he, Roger, had come to work at Pinker Lloyd in the time when the City was more about relationships and less about maths. He had prospered, thrived, in the intervening decades but it was no longer true that he had kept up entirely with the changes in the underlying nature of the work. Foreign exchange trading was based on the manipulation of immensely complicated mathematical formulae, which allowed the bank to take subtle, lucrative positions that amounted to betting on both sides of the trade at the same time. As long as anything not too wildly untoward happened – anything outside the parameters and predictions built into your bets – and as long as your algorithms were correct, you were guaranteed to make money. It was a law of the business that you could not make money without taking some risk, but it was also true, thanks to the wonders of modern financial instruments, that you could manage the risk almost out of existence. And of course the bank did every little thing it could to help itself. Some of the trading was algorithmic, done on a purely mathematical basis to benefit from the way prices had momentum: when they moved in any direction, they were more likely than not to move in the same direction the next day. So they had traders using software to profit from that. Some of the trading was ‘flash’ trading, done to profit from the split seconds between an order being placed in the markets and the order being executed. Some of the trading drew on databases of what customers had paid in the past, and used that to predict what they would pay in the present, in real time, so that the bank could quote a price that the customer would accept, but which
would also lock in a guaranteed profit for Pinker Lloyd. That was all fine, and the broad principles were well understood by Roger – but it was not the same thing as understanding the maths itself. That was by now well beyond him. Mark, on the other hand, did understand it; he had abandoned a Maths PhD to come and work at Pinker Lloyd. Roger did not love the fact that his footing was no longer entirely secure, and that he could no longer explain, right the way down to the finest grain of detail, exactly what was going on in the trading his department supervised. But then, hardly anyone else could either. That was just the nature of the work that went on in the City these days.

‘OK to bring up one more issue?’ asked Mark, putting down the first set of figures he’d brought, and picking up another file. ‘I’ve got the next run at that software thing. I thought you might like to have a look?’

Mark here was using upspeak, ending on an upward inclination, making what he said nearly a question but not quite. He held the file aloft in a way which invited the third man in the room to take a look at it if he wanted to. That man was Roger’s ultimate boss, Lothar Billinghoffer. Lothar was a forty-five-year-old German who had been headhunted from Euro Paribas a couple of years ago. Companies have styles in personal comportment; the style at Pinker Lloyd was calm and level, and no one embodied that better than the German Chief Executive Officer. He looked super-fit and uncannily healthy for a man who worked twelve to fourteen hours a day, though when you got close up he seemed older than he did at a distance. Lothar was a fanatic about outdoor sport, and spent his weekends walking up mountains or skiing down them or hanging off the sides of yachts. His face was often reddish with a touch of sunburn or windburn and his eyes were lined from outdoorsy squinting. Lothar beside Mark was like a colour chart for men’s faces: this is what happens when you go orienteering in the Black Mountains v. this is what happens when you never voluntarily look up from a screen.

Lothar would not normally be here. Dropping in on people was a new thing he did; he’d read some book about ‘Deconstructed’ Management techniques. Since no one in the world was less deconstructed
than Lothar, he had formulated a strict policy of spending half an hour a week wandering around the building talking to people and going into meetings at pretend-random. So here he was pretend-randomly at Roger’s daily check-in with his deputy.

Roger might have been nervous at going over the software problems with Lothar in the room. Everyone in business knows that everything to do with new software is a guaranteed nightmare. But Mark never approached Roger with a problem to which he did not have, if not a solution, then an idea about where a solution might possibly be sought. The department was working with the IT department and an external contractor to develop a new, custom-made software package to display information on traders’ screens: the holy grail was the maximum amount of information with the minimum clutter, and the greatest amount of individual customisation (since the traders all had their own views about how they wanted their screens to look) combined with the shortest learning curve. This didn’t interest Roger particularly, but then not much of his work did, and he was always ready to take a view in his amiable, even-tempered way. That didn’t seem to be necessary here. In this instance, Mark’s tone implied that he knew Roger was busy, that it was not all that urgent a query, and that it would be entirely legitimate for Roger to wait for a new, improved version of the software before he deigned to look at it. So he was making it clear that his enquiry was pro forma, except that if it was too obviously pro forma it might look as if he did not value Roger’s opinion, which he did, he deeply did. All this was part of the way Mark was a perfect deputy, almost uncannily so. Lothar made no move to take the file. For a moment Roger thought it would be more expressive of confidence in his deputy, and therefore a better example of Deconstructed Management, if he didn’t look at the papers, but then a bat-squeak of instinct told him to play it the other way.

‘Let’s have a shufti,’ said Roger. Mark slid some screenshots in front of his superior. Sure enough, the screenshots were a little cluttered and busy. One of them displayed eight different graphs. Roger and his deputy looked at each other. Neither of them looked at Lothar, who in Mark’s case was his boss’s boss.

‘No,’ said Roger. ‘Still too much.’

Mark bowed his head slightly. Because he was at the same moment doing something to his pen, this made him seem as if he was wringing his hands in a gesture of self-abasement.

‘I’ll bounce it back to them and tell them you said so.’ He nodded and backed out of the room towards the trading floor.

‘Good,’ said Lothar – one of the only things he ever said which came across with a faint flavour of German: ‘gut’.

Roger got up, stretching to his full height, and moved towards the door, which Mark had closed as he went out. He pressed the button that made the blinds go up and looked out into the space where his colleagues were all in their various work postures – leaning into their screens, slouched and tilted backwards, or occasionally standing and moving as they talked into their headsets. The sun had gone down and the lights in the other tower of Canary Wharf seemed brighter; but the only people looking out the window were simultaneously on the phone, buying and selling. One or two of his people nodded or grimaced at Mark as he walked past. Roger momentarily found himself thinking about his million pounds, before wrenching his attention back to Lothar.

‘They’re a good bunch,’ he said. ‘Work hard play hard, same way all kids are these days.’

‘Figures look pretty gut,’ said Lothar in a neutral tone.

Roger thought: yes!

A
hmed Kamal, who owned the shop at the end of Pepys Road, number 68, came awake at 3.59 in the morning, one minute before his alarm clock was set to go off. Through long habit he was able to reach out and press down the button on top of the digital clock without coming fully awake. Then he rolled back and lay snuggled up behind his wife Rohinka, who he could tell was still a long way down into sleep.

Ahmed was used to waking up early and did not mind it all that much, but he didn’t like getting out of bed when Rohinka was so warm and the house was so cold. In the distant epoch before they had kids, the heating would have been timed to come on as he was getting up, but the house was small, with two rooms upstairs and two down, and their children’s bedroom was immediately over the tiny downstairs kitchen. When the boiler came on, it made a noise which, though not loud, through some dark magic of sound conduction woke their son Mohammed as if it were a backfiring motorbike. Mohammed, who was eighteen months old, could then be guaranteed to wake four-year-old Fatima, who would march straight into the bedroom and wake Rohinka, and the day would be well on the way to disaster by one minute past four in the morning. The solution was to leave the heating off until later in the morning, and wear more clothes. This Ahmed did. But before getting up he lay in the warmth of the marital bed and counted slowly to a hundred.

Exactly on a hundred – this was part of the drill, because he told himself that if he waited a second longer he wouldn’t get up at all – Ahmed climbed out of bed. He put on two Gap T-shirts, one medium and the second extra-large, a thick cotton shirt his mother had sent him from Lahore, a cashmere sweater Rohinka had bought him for Christmas, a pair of boxer shorts, two pairs of socks, a pair of thick brown trousers, and finally a pair of fingerless gloves. Rohinka thought these hilariously tatty, but they were a big help with accomplishing the first task of the day, getting in the newspapers, cutting the wrappers and plastic tape off them, and getting both the deliveries and the daily displays ready. Ahmed went downstairs slowly, stepping over the third, fifth and eighth steps, all of which creaked, and making it to the kitchen without waking Mohammed. The preacher at Wimbledon mosque sometimes talked about the jihad against your smaller temptations and lazinesses, the jihad to get up and say your prayers in the morning. Ahmed, by the time he got downstairs before the dawn, felt that he knew what the imam meant.

He made tea, took some of yesterday’s naan out of the bread bin and went through to open the shop and bring the papers in. Ahmed loved his shop, loved the profusion of it, the sheer amount of stuff in the narrow space and the sense of security it gave him –
The Daily Mail
and
The Daily Telegraph
and
The Sun
and
The Times
, and
Top Gear
and
The Economist
and
Women’s Home Journal
and
Heat
and
Hello!
and
The Beano
and
Cosmopolitan
, the crazy proliferation of print, the dozens of types of industrially manufactured sweets and chocolates, the baked beans and white bread and Marmite and Pot Noodles and all the other inedible things that English people ate, and the bin-liners and tinfoil and toothpaste and batteries (behind the counter where they couldn’t be stolen) and razor blades and painkillers and the ‘No Junk Mail’ stickers which he’d only got in last week and had already had to reorder twice, the laser-print-quality 80 g paper and the A4 envelopes and the A5 envelopes which had become so popular since they changed the way postal pricing worked, and the fridge full of soft drinks and the adjacent fridge of alcohol, and the bottles of Ribena and orange squash, and the credit card machine and the Transport
for London card-charging device and the Lottery terminal – it all felt snug and cosy and safe, his very own space, and never more so than first thing in the morning when the shop was his alone. Mine, he thought, all mine. Ahmed turned down the volume on the CD player behind the counter and then pressed play: Sami Yusuf’s ‘My Ummah’ came on at low volume. Later in the day he would turn to Capital Gold, because not everyone liked Sami Yusuf, but nobody disliked oldies. Then came the day’s first irritation: that little bastard Usman had done it again. The shelves beside the counter where the shop’s alcohol was on display were covered by a blind. So was the section of the fridge devoted to beer and white wines.

Usman was Ahmed’s younger brother, a not very grown-up (in Ahmed’s view), argumentative (in everybody’s view) 28-year-old who divided his time between working in this very shop and studying (in Ahmed’s view that should be ‘studying’) for an engineering doctorate. Either Usman was going through a devout phrase or – Ahmed’s view – he was pretending to. Whichever it was, he was making a big deal of his dislike of selling alcohol and magazines with naked women on their covers. Muslims were not supposed to blah blah. As if everybody in the family were not well aware of these facts and also well aware of the economic necessities at work. There was no reason for the blind to have been pulled down. The only reason to pull it down was to make it clear that alcohol could not be legally sold outside the licensing period; but last night the shop had been shut at eleven and they had a licence to sell alcohol until eleven. The last person inside the shop the night before was Usman, and his latest trick was, when Ahmed was absent, pulling down the blind so that it would not be clear whether or not his scruples had on this occasion allowed him to sell alcohol to the unbelievers. It was a wind-up.

Ahmed unlocked the front door and pulled up the bottom of the shutter, which was always the hardest bit; then he shoved it up under the shop awning, as gently as he could. It was a cold day and his breath steamed freely. From just around the corner he could hear the whirr of the electric milk cart. He must have just missed it. Ahmed dragged the papers inside, puffing slightly, and pulled the door to. On a bad
day when Rohinka was busy with the children and he was minding the shop all day, that would be the only exercise he would get in the whole twenty-four hours.

While he got on with the business of unpacking and setting out the newspapers, and then putting together the bundles for the three delivery boys who would be arriving at any time after six o’clock or so, Ahmed grumbled to himself. He loved Usman, of course he did, but there was no question that he was an annoying little bastard. If his precious conscience wouldn’t allow him to serve alcohol he should plainly say so, and then Ahmed could give him a bollocking and – this of course was the real reason Usman wouldn’t come out and say so plainly – get on Skype to their mother in Lahore. Hah! That would be a good one. That would be a classic. Mrs Kamal would scream. She would yell. She would denounce every single bad thing Usman had ever done, omitting nothing and minimising nothing, and then describe every single good thing that had ever been done for him, and then would invite Allah to inform her of what she had done, given the extraordinarily total contrast between his badness and his family’s goodness, what they had done to deserve such a thing. She would invite Allah to strike her dead rather than witness any further displays of ingratitude. She would go into orbit. And that would be just the warm-up. That would be her just getting going. She would give Usman such a bollocking there would be a real chance he’d drop dead right there on the spot. The world would realise that Pakistan had no real need of its nuclear deterrent since they already had the elder Mrs Kamal.