Business Diary: Choking on the chocolate
Wednesday 29 June 2011
Thorntons' strategy-review statement yesterday was a grim example of management speak. The lowlights included "a more focused retail estate with a differentiated customer proposition", "a de-risked business" that "positions the company for sustainable future growth", and a push to "grow the relevance of other all-year-round gifting occasions".
Compare that with Lord Harris of Peckham's description of trading conditions at Carpetright. "Bloody awful," he said. Couldn't be clearer, could it?
The real solution to Greece's woes
Good to see Newsnight economics editor Paul Mason taking the temperature on the streets of Greece yesterday. According to his tweets, Mason's taxi driver had a solution to the country's woes: he favoured a military coup followed by a dictatorship. How that suggestion went down with Mason, who has something of a reputation for being aleft-wing firebrand, remains unreported.
Arise then, Sir Mervyn King
It would seem that the Diary owes the Governor of the Bank ofEngland an apology (and never let it be said we will not eat humble pie, especially for a knight). Last week we poked a bit of fun at the Bank for granting Sir Mervyn King his new title as soon as it had been announced, even though he had yet to be granted an audience with the Queen. As it turns out – although Sir Mervyn was far too polite to make a fuss – the Cabinet Office explains that people areentitled to use their title as soon as such honours have been announced. We hope theGovernor will forgive us.
Dougan taken to the cleaners
This is what you call a bad day. Brady Dougan, the chief executive of Credit Suisse, is $750,000 poorer following a US court ruling that he must pay his ex-wife that much in interest for being 12 days late with a divorce-settlement payment in 2006. Mr Dougan had appealed this judgment, claiming that he ought to pay interest only for that 12-day period, which would have cost him $25,000 on the settlement of about $7.5m. But a judge has now upheld the ruling, on the grounds that the original divorce settlement made it absolutely clear that interest would be due from the word go in the event of any tardiness.
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
- 2 Loom bands: Bids for dress made from colourful rubber reach almost £154,000 on eBay
- 3 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 4 Why I'm on the brink of burning my Israeli passport
- 5 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Loom bands: Bids for dress made from colourful rubber reach almost £154,000 on eBay
Israel-Gaza crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
There’s a nasty smell in the political air – and it’s coming from the Tories
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