City Diary

WARREN BUFFET, the celebrated American stock investor, has confessed to a "warm feeling" for the Great Crash of 1929. It turns out that the great man, known as the Sage of Omaha for his stock-picking skills, was conceived just after the terrible slump on Wall Street.

"I'm quite fond of 1929, since that's when it all began for me," he told investors. "My dad was a stock salesman at the time, and after the Crash came he was afraid to call anyone - all those people who'd been burned.

"So he just stayed at home and there wasn't television then, so... I was conceived on or about 30 November 1929 and born nine months later on 30 August 1930. So I've forever had a kind of warm feeling about the Crash."


THE OFFICE for National Statistics, like the rest of Whitehall, observed Remembrance Day on Thursday morning with the start of the two-minute silence announced over the internal public address system. A flock of journalist colleagues at the ONS for an 11am press briefing respectfully joined in, but grew somewhat restless until, at four minutes past the hour, the press officer at last announced that it was time to get back to work. It was not until 10 minutes past eleven that the official announcement proclaimed the end of the period of silence. As Jeff Golland, the statistician presenting the briefing, noted mournfully: "Time passes very slowly at the ONS."


MUCH NEWSPRINT has been devoted to excited analysis of the split on the Monetary Policy Committee, added to this week by the quarterly Inflation Report. For the first time the Bank of England's inflation forecast has departed from the strict economic theory that predicts that the pound will fall quite sharply and has so predicted for the past two years. The alternative, put forward by chief dove Sushil Wadhwani, is that the pound will stay constant at a high level. The report split the difference, predicting a gentle decline. Rumour has it that Eddie George, an expert committee man, cut through the fancy economic arguments on either side by suggesting taking the average of the hawks and the doves. If the MPC gets its extra researchers, the boffins may be able to work out which theory is the right one.


CONSISTENCY IN fiscal policy is hard to achieve, even for a Government that has made "joined-up thinking" one of its catchphrases. Look at the pre-Budget report. Gordon Brown grabbed the headlines with his offer of free TV licences for the over-75s, but it did not please everyone. Andrew Dilnot of the Institute of Fiscal Studies lamented the fact that the PBR "looked more like a mini-Budget". At the IFS briefing he recalled that the idea of the PBR was to start a consultation process ahead of the Budget in March, which is after all about income redistribution.

To much laughter, he highlighted a recommendation from Gavyn Davies' report into the licence fee that reads: "The BBC's funding mechanism is not well suited to solving the problems of income distribution and the BBC should not be used as a benefits agency."

Mr Dilnot added: "Perhaps this was the consultation and that they have decided the consultation should be ignored... or perhaps they should have had more consultation."

Arts and Entertainment
Rita Ora will replace Kylie Minogue as a judge on The Voice 2015
Life and Style
Life and Style
Alan Turing, who was convicted of gross indecency in 1952, was granted a royal pardon last year
Arts and Entertainment
Sheridan Smith as Cilla Black and Ed Stoppard as her manager Brian Epstein
tvCilla Episode 2 review: Grit under the glamour in part two of biopic series starring Sheridan Smith
Life and Style
Arts and Entertainment
Tennis player Andy Murray's mum Judy has been paired with Anton du Beke for Strictly Come Dancing. 'I'm absolutely delighted,' she said.
tvJudy Murray 'struggling' to let Anton Du Beke take control on Strictly
Life and Style
Vote with your wallet: the app can help shoppers feel more informed about items on sale
lifeNew app reveals political leanings of food companies
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
The cover of Dark Side of the Moon
musicCan 'The Endless River' carry on the tradition? See for yourself
New Zealand fly-half Aaron Cruden pictured in The Zookeeper's Son on a late-night drinking session
A new app has been launched that enables people to have a cuddle from a stranger
voicesMaybe the new app will make it more normal to reach out to strangers
Arts and Entertainment
Salmond told a Scottish television chat show in 2001that he would also sit in front of a mirror and say things like,
tvCelebrity Trekkies from Alex Salmond to Barack Obama
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

IT Project manager - Web E-commerce

£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...

Trainee / Experienced Recruitment Consultants

£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...

Trainee Recruitment Consultant - Soho

£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...

Trainee Recruitment Consultants - Banking & Finance

£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...

Day In a Page

Secret politics of the weekly shop

The politics of the weekly shop

New app reveals political leanings of food companies
Beam me up, Scottie!

Beam me up, Scottie!

Celebrity Trekkies from Alex Salmond to Barack Obama
Beware Wet Paint: The ICA's latest ambitious exhibition

Beware Wet Paint

The ICA's latest ambitious exhibition
Pink Floyd have produced some of rock's greatest ever album covers

Pink Floyd have produced some of rock's greatest ever album covers

Can 'The Endless River' carry on the tradition?
Sanctuary for the suicidal

Sanctuary for the suicidal

One mother's story of how London charity Maytree helped her son with his depression
A roller-coaster tale from the 'voice of a generation'

Not That Kind of Girl:

A roller-coaster tale from 'voice of a generation' Lena Dunham
London is not bedlam or a cradle of vice. In fact it, as much as anywhere, deserves independence

London is not bedlam or a cradle of vice

In fact it, as much as anywhere, deserves independence
Vivienne Westwood 'didn’t want' relationship with Malcolm McLaren

Vivienne Westwood 'didn’t want' relationship with McLaren

Designer 'felt pressured' into going out with Sex Pistols manager
Jourdan Dunn: Model mother

Model mother

Jordan Dunn became one of the best-paid models in the world
Apple still coolest brand – despite U2 PR disaster

Apple still the coolest brand

Despite PR disaster of free U2 album
Scottish referendum: The Yes vote was the love that dared speak its name, but it was not to be

Despite the result, this is the end of the status quo

Boyd Tonkin on the fall-out from the Scottish referendum
Manolo Blahnik: The high priest of heels talks flats, Englishness, and why he loves Mary Beard

Manolo Blahnik: Flats, Englishness, and Mary Beard

The shoe designer who has been dubbed 'the patron saint of the stiletto'
The Beatles biographer reveals exclusive original manuscripts of some of the best pop songs ever written

Scrambled eggs and LSD

Behind The Beatles' lyrics - thanks to Hunter Davis's original manuscript copies
'Normcore' fashion: Blending in is the new standing out in latest catwalk non-trend

'Normcore': Blending in is the new standing out

Just when fashion was in grave danger of running out of trends, it only went and invented the non-trend. Rebecca Gonsalves investigates
Dance’s new leading ladies fight back: How female vocalists are now writing their own hits

New leading ladies of dance fight back

How female vocalists are now writing their own hits