Business Diary: Channel Five set to relocate

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The Independent Online

The creative types at Channel Five wondered what the impact would be of Richard Desmond's purchase of the company.

One of the first effects may well turn out to be their relocation away from the pleasant shops and bars of London's Covent Garden, the current Channel Five headquarters. Mr Desmond is rumoured to be planning to move the whole operation to his Northern & Shell building on the edge of the City, a decidedly less fashionable area.

Obama offers stock tips

Want to make money investing on the US stock market? It's easy – just find out which business bosses have been lunching with President Obama. Since coming to office, he has held seven lunches with small groups of chief executives of America's biggest companies. On five occasions, the shares of attendees' companies outperformed the S&P 500 Index over the following 30 days, reports Bloomberg. It's not implying any naughty goings on, by the way. An analyst points out: "Losers don't get asked to hang out with the President."

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