Business Diary: 19/09/2009
Saturday 19 September 2009
Aviva's advocate really does her job
When the insurer Aviva first began examining ways of unlocking £1.2bn-worth of assets in its "inherited estate", it knew it would have to hire someone formidable to represent policyholders' interests, or face accusations it was being unfair to them.
Still, it got more than it bargained for with the former energy regulator Clare Spottiswoode. The policyholders' champion yesterday welcomed High Court approval for a deal, agreed after two years of negotiations, but couldn't help chucking barbs the way of the FSA and Aviva itself. "The rules favour shareholders," she moaned after a series of spats with Aviva.
A business opportunity shines out
Famous for the festival, Glastonbury is obviously also home to some entrepreneurial spirit too. Jules Bending, a local estate agent, says he has stockpiled 10,500 100w traditional light bulbs. Once EU rules requiring retailers only to stock energy-efficient bulbs come into effect in 2010, Mr Bending plans to sell his stockpile at inflated prices. He reckons £40 to £60 a go sounds fair.
Mercer press office comes out fighting
Expect a combative approach to press relations and marketing from Mercer, the employee benefits consultancy, which has hired a new chief for its American press office. His name is Bruce Lee.
The campaign that won before it even started
No news yet on Monday evening's Stand up for the Observer event, due to be hosted by the comedian David Mitchell. The event appears to be going ahead, despite this week's announcement from Guardian Media Group that it won't be closing the Sunday paper, despite speculation this was on the cards.
Pedal power to the fore at Rolls-Royce
Best known for its powerful engines, Rolls-Royce now has another claim to fame – and it's a slightly greener one. The aerospace company is Britain's most prolific adopter of the Cycle to Work initiative, which offers tax breaks on bikes. Almost 1,700 employers have bought bikes collectively worth more than £1m through their company scheme.
Number of the day: 15%
The VAT rate at which firms can reclaim if taking clients to lap-dancing clubs. Harriet Harman wants them excluded.
- 1 Barbarians vs Samoa interrupted by sprinklers as fans criticise lack of Wi-Fi and poor seating at West Ham's Olympic Stadium
- 2 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 3 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
- 4 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
- 5 David De Gea to Real Madrid: Real finally get their man with £29m bid for Manchester United goalkeeper
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Turkey duped the US, and Isis reaps rewards
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
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