Business Diary: 13/08/2009


Death of capitalism now on sale for €25


The Dutch designer Twan Verdonck has something to say. The artist, who has had works displayed in the Museum of Modern Art in New York, has launched a new project called "We Are Numbers", which is about consumerism, identity and fashion.

He told the consumer magazine Wired that the ultimate goal of giving everyone a numbered T-shirt, right, was "universal love, low consumption and unlimited creativity". He thinks there will soon be a post-capitalist society, saying: "Capitalism has brought us inequality, poverty and wars". So these T-shirts are obviously free? Um, no – €25 each, plus shipping.

Bing unearths amazing facts about the Welsh

One feature that differentiate's Google's main rival Bing from the big kid on the block is its home page which features a colourful photo every day together with several fascinating facts about the featured destination. This means Bing can commercialise its home page, with links to items to buy underneath. Yesterday's featured Castle Conwy but the fascinating facts were all about Wales. And the commercial stuff underneath? Find Tom Jones CDs and did you know Welsh boasts some of the world's longest words. If only they'd chucked in some daffodils and leeks and they'd have had the whole clichéd set.

Bank of England chief misses static target

Mervyn King, ever the sportsman, pointed out to hacks at the Inflation Report press conference that he was launching his latest view on the economy on the "Glorious Twelfth". He did not endorse field sports, but asked those present to note that while people on the grouse moors were trying to hit a moving target, the Bank of England was aiming at a static one. Though that hasn't made it that easy to hit, has it Mervyn?

Will Fayed's successful son return to the shop?

The youngest son of Mohammed Fayed left the board of Harrods in March to continue his studies and focus on his MBA, before returning to the department store at a later date. While Omar Fayed's contribution is hard to measure, Harrods delivered record sales of £751.7m in the year to 31 January 2009. So if Omar was a retail genius, he may be needed back at the shop.

Number of the day: 117

The Hedge Fund Implode-O-Meter's count of funds going belly up since late 2006. Atticus Global fund fell this week.

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