Business Diary: BA's volcanic shorthand

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The Independent Online

One of the frustrations for airline bosses still counting the losses racked up as a result of that darned Icelandic volcano is that they can't even pronounce the name of the ash-spewing giant. Still, British Airways boss Willie Walsh reveals the company now employs some neat shorthand internally for talking about Eyjafjallajokul. "We call it E15," explains Mr Walsh in an interview with Exec Digital, the online newsletter. "It starts with an E and there are 15 letters in its name."





'Death cross' investor blues

Don't be too surprised if the world's stock markets take a tumble this week. Technical analysts, the rather oddball group of investors who predict market movements by poring over charts of trend lines, have spent an uncomfortable weekend fearing the worst after spotting a "death cross" on Friday. In case you didn't know, this is a formation in which the 50-day moving average of a share price or index value moves below the 200-day moving average, and often spells doom. This particular black spot was noted on the S&P 500 index of leading US shares, which hardly bodes well for a happy week.





Tesco's Potts' 'no' to cannabis

Executive pay wasn't the only controversial topic at Tesco's annual general meeting on Friday. We hear one shareholder had got completely the wrong end of the stick about something he had read and wanted to ask the company whether it really did intend to start selling cannabis in its supermarkets (the answer was no, naturally). Fortunately, Tesco had the right man on hand to put its investors' minds at ease. Step forward its logistics chief, David Potts.





French summer footwear

And finally, just to cheer you up on a Monday morning. Heard the one about the French investment banker who has finally earned enough money to quit and pursue his dream of launching a footwear company? His name is Philippe Faloppe.

businessdiary@independent.co.uk

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