Business Diary: 04/07/2009 - Business News - Business - The Independent

Business Diary: 04/07/2009


More sickening news for Citigroup


An internal memo from Citigroup HQ in New York reaches our desk. Apparently, a member of staff has contracted swine flu and the bank's staff have been instructed to watch out for any symptoms they may develop themselves. As if the credit crisis-hit bank doesn't have enough to worry about.

Above Cellan-Jones's pay grade

Rory Cellan-Jones, the BBC's technology correspondent, told his Twitter followers yesterday that there was "general bemusement in our office". The reason? "We've just noticed that a man none of us have heard of is second highest earner in BBC News on £280,000." Who could Cellan-Jones mean? The only exec whose pay has been made public and who earns around that sum is Richard Sambrook, who runs Global News. Even the Beeb's technology geeks must have heard of him.

Polish factory hits the big time

We enjoy the Polish Information and Foreign Investment Agency's regular updates on what is going on in the economy of the Eastern European country. Sadly, not a lot, it seems. The poor chaps have been reduced to announcing this: "LG Display factory in Dolny Slask produced its 10 millionth LCD display several days ago."

Brewin advises selling on a lethal cocktail

How's this for insensitivity? Broker Brewin Dolphin has published a note warning investors about its concerns for Southern Cross Healthcare, the nursing home operator. It says the mix of swine flu and this week's heatwave could have a deadly effect on Southern Cross's clientele – and its earnings. We're waiting for the note from Brewins tipping Dignity, the funeral services provider.

G8 leaders head for the danger zone

We applaud the motives of Silvio Berlusconi, left, in deciding to host next week's G8 summit in quake-stricken L'Aquila. But do you think world leaders are getting nervous about their trip to Italy? Reuters reports that more strong tremors – measuring 4.1 on the Richter scale – sent locals into a panic yesterday.

Number of the day

£1,298m

Revenues earned by the City law firm Linklaters last year, making it Britain's highest-grossing solicitor.

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