Gurney steps up to the plate this morning.
In the main, this was a failry straightforward puzzle with almost no difficult words or definitions. I say "almost" because I had never come across the stock market definition of HAIRCUT before. The clue for PREFERENTIAL is flawed in that the "to" in the clue interferes with the wordplay. That apart, a gentle and not too taxing start to my day, so for that, thanks Gurney.
| ACROSS | ||
| 1 | POSTPRANDIAL |
Appointment tip — finally managed call after dinner (12)
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POST ("appointment") + (ti)P [finally] + RAN ("managed") + DIAL ("call") |
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| 8 | OVATION |
Too vain about good reception (7)
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*(too vain) [anag:about] |
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| 9 | DESKTOP |
Working area of the French king, the best (7)
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DES ("of the" in "French") + K (king, in chess notation) + TOP ("the best") |
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| 11 | SHORTLY |
In impatient way before long (7)
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Double definition |
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| 12 | TREACLE |
Syrup strangely clear — note covers it (7)
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TE ("note") covers *(clear) [anag:strangely] |
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| 13 | DIARY |
Record help going west by railway (5)
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<=AID ("help", going west] by Ry. (railway) |
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| 14 | INSINCERE |
Fury about knight because false (9)
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IRE ("fury") about N (knight, in chess notation) + SINCE |
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| 16 | RACKETEER |
Relearn on regular basis after court equipment fraud (9)
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(r)E(l)E(a)R(n) [on regular basis] after RACKET ("court equipment") |
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| 19 | BATHE |
British articles for swim (5)
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B (British) + A & THE ("articles") |
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| 21 | BONJOUR |
Greeting recalled VIP, judge, for us (7)
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[recalled] <=NOB ("VIP") + J (judge) + OUR ("for us") |
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| 23 | HAIRCUT |
Shock treatment — percentage of asset value deducted (7)
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Double definition, the second referring to stock exchange slang for the proportion of an asset paid to a broker when the asset is used as collateral for a transaction. |
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| 24 | ELUDING |
Evading notice by deceiving? Not at first (7)
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[not at first] (d)ELUDING ("deceiving") |
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| 25 | RETSINA |
Retains redeveloped drink (7)
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*(retains) [anag:redeveloped] |
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| 26 | NEVERTHELESS |
Still raven, ever the lesser-spotted, hides (12)
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Hides in "raveN EVER THE LESSer-spotted" |
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| DOWN | ||
| 1 | PIANOLA |
Unusually plain about introduction of organ, a musical instrument (7)
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*(plain) [anag:unusually] about [introduction of] O(rgan) + A |
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| 2 | SAINTLY |
Service’s opening recollected litany, holy (7)
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S(ervice) ['s opening] *(litany) [anag:recollected] |
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| 3 | PENNY-WISE |
Careful before buying new pin? Yes, awfully (5-4)
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*(new pin yes) [anag:awfully] |
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| 4 | AUDIT |
Periodic inspection of car over time (5)
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AUDI ("car") over T (time) |
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| 5 | DISCERN |
Become aware of record, not half modern (7)
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DISC ("record") + (mod)ERN [not half] |
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| 6 | ATTACHE |
A non-drinker, Bill, he’s diplomat (7)
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A + TT (teetotaller, so "non-drinker") + A/c (account, so "bill") + HE |
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| 7 | CONSIDERABLE |
Regard as up to it and worthy of respect (12)
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CONSIDER ("regard as") + ABLE ("up to it") |
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| 10 | PREFERENTIAL |
Friend about to interfere slyly, securing advantage (12)
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PAL ("friend") about *(interfere) [anag:slyly] This clue doesn't work for me because of the "to" before "interfere". It is necessary for th surface, but plays no part in the wordplay or definition. |
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| 15 | SURCHARGE |
Certain about cleaner ultimately deserving extra payment (9)
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SURE ("certain") about CHAR ("cleaner") + [ultimately] (dressin)G |
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| 17 | CENSURE |
Cock-up initially, guarantee harsh criticism (7)
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C(ock-up) [initially] + ENSURE ("guarantee") |
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| 18 | EMOTIVE |
Controversial ground on net? (7)
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E– (indicating "on (Inter)net", as in e-shopping) + MOTIVE ("ground") |
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| 19 | BRISTLE |
Extremely bitter one’s let off, show anger (7)
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[extremely] B(itte)R + I'S (one's) + *(let) [anag:off] |
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| 20 | TACTICS |
Manoeuvres using diplomacy in circumstances sensitive at the outset (7)
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TACT ("diplomacy") + I(n) C(ircumstances) S(ensitive) [at the outset] |
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| 22 | RIGHT |
Genuine claim (5)
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Double definition |
Gentle indeed
Liked CENSURE and NEVERTHELESS (took a good while to see)
I felt several clues were too clever with synonyms that missed the mark
Thanks Gurney and loonapick
I didn’t understand HAIRCUT either, for the same reason.
An enjoyable puzzle and nothing too taxing.
Liked it from start to finish. Not overly taxing with no obscurities or impossi-clues and some easy long clues to provide plenty of crossers.
Liked ovation, retsina, nevertheless, surcharge.
Thanks both.
Re haircut, remember this is the FT
Anyone following the news coverage of the Thames Water sale/refinancing debacle would have seen references to how much of a “HAIRCUT” the debtholders will have to take in order to get their deal over the line. ie how much of their debt they will have to write off (the shareholders having already written off 100% of the equity). This is the most common use of ‘haircut’ in financial circles.
I agree with the criticism of 10d. Personally, I would have preferred 9a without ‘the’ before ‘French’, which still reads ok. It’s not wrong, as DES can be a contraction of ‘DE LES’, but I normally think of DU as ‘of the’. As I say, just an opinion, not a criticism as such.
Hovis @6, I think the “the” is needed otherwise “of” would be simply “de”. “Of the” is one of “du”, “de la” or “des”.
I’m a fan of Gurney, mainly because I can usually do quite well on his crosswords. I wonder if the name is a reference to the Poet or to a hospital trolley…..
Anyway, this was lots of fun.
One other definition of haircut I’ve seen is that where assets are pledged against a loan the value of the assets must be at least equal to the loan after applying a % deduction from the current market value of those assets – to protect the lender from an adverse price movement. So loan = £10k, collateral pledged equals £12k less a haircut of £1k means the loan is still covered adequately.