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For a few precious hours there was a sense of jubilation and victory on Sark yesterday as, on a bright blue day, the tiny Channel island celebrated its first democratic election after 150 years of feudal rule.

But joy turned to despair for many, and uncertainty for all, when the Barclay brothers, owners of the Telegraph and the Ritz hotel, reacted to their disappointment at failing to get their chosen candidates elected by announcing they were ceasing their multimillion-pound operation on the island and laying off 140 workers.

Read at The Guardian or audio