Business Diary: City shows where its interest lies

We're not saying that people in the City are heartless, but you can't help raising an eyebrow at the results of a survey published yesterday by the Chartered Institute for Securities and Investment.

It reveals, surprise, surprise, that two-thirds of City folk believe that the coalition Government's comprehensive spending review is good news. Now, even leaving aside the politics of spending cuts, it has to be said that your average City professional is probably going to find himself a little less affected by this round of austerity than most other folk.

Coke gives hostage to Spoonerisms

Our congratulations to Julian Hunt who was appointed this week as the new UK vice-president for communications and public affairs at Coca-Cola. No doubt it's a great job, but with that name – and the initial letter of the drinks giant's brand – we are already looking forward to the day that Jim Naughtie has him on the Today programme for a chat.

Knives out for the City's debutante

City PRs – such a lovely group of people. They've been joined by a new operation, Stockwell Group, backed by funding from IceniCapital and set up by former Friends Provident communications chief Nick Boakes, Philip Gawith, who was chief executive at Maitland until six weeks ago, and Brunswick partner Tim Burt. They say it's the "most significant" launch for a generation that will attract the best young "talent" and challenge the top tier agencies. Those rivals have a rather different view of it. "The reject shop," says one.

Tesco loses secondkeynote player

Poor old Tesco just can't stop losing key staff. First, chief executive Terry Leahy, the man credited with turning the supermarket into a global giant, announced he is off to pastures new next year. And now, just as Tesco plugged the first gap, another defector surfaces. Despite being booted off The X Factor last weekend, Mary Byrne has announced she won't be going back to her previous job at Tesco. Who would have thought it? Will the supermarket be prepared to keep her job open in the unlikely event of a career in music not working out after all?

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