Red Nose Day is upon us again and this year the City will be asked to hang up its money-making habit for a day, don colourful plastic nasal- wear and conduct high jinx in the name of charity.

"We want more support than Will Carling's jockstrap," said a spokesman for Comic Relief. Several schemes are already arranged, though most are worthy rather than raucous. Salomon Brothers' donation will be based on turnover in the bonds market and Sun Alliance's connected to the number of phone calls it receives. BZW, Mercury Asset Management, Smith New Court and SG Warburg are donating fixed sums for every bargain transacted at Seaq. I wonder if charitable brokers will split their deals and push the number or transactions up?

Meanwhile, organisers are shocked by cynical suggestions that the City is replying to recent accusations of corporate greed and profiteering with a well-publicised fit of philanthropy.