Business Diary: Getting hot under their wigs

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The Independent Online

Check out this week's issue of Legal Business magazine if you want to know what it's really like to work in a City law firm. It's Christmas quiz asks about the indentities of senior lawyers involved in some racy escapades over the past years. Among the few printable questions was: "Which top mediator bored his clients so much that, on returning to the meeting after a short break, found that they had resorted to sexual intercourse on the table?" Sadly, the magazine provides no answers.

Credit Suisse shows little gratitude

There's no such thing as loyalty in investment banking. It emerged last week, courtesy of the National Audit Office, that Credit Suisse trousered a cool £15.4m in fees from the Treasury during the financial crisis. How is the bank repaying that generosity? Well, its latest outlook report on the UK is not much of a thank you – it says we're in a worse state than any other major economy and adds that the Bank of England is at risk of losing its credibility.

Expertise on how to handle debt?

We know they don't really do irony in Dubai, but even Sheikh Maktoum must have had a wry smile when presenting the Leading Woman CFO award during the recent Women in Leadership Forum gongs. The winner was one Maryam Sharaf, chief operating officer and chief financial officer of Dubai World.

Sweet response from Cadbury bosses

Good to see Cadbury remains unfazed by the advances of Kraft. The timetable begins today for the takeover bid, with Cadbury shareholders having 60 days to make up their minds whether to sell the company. Cadbury is marking the occasion by hosting a swish Christmas party at London's trendy Jewel bar tomorrow night. Cool as cucumbers.

Number of the day 0.45 per cent

The short-selling position disclosed by Davidson Kempner European Partners in Lloyds Bank, the first such hedge fund disclosure for some time