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 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Rob Lowe hits out at White House decision not to meet Israeli leader
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
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