Business Diary: Griffin probes the euro's collapse

Click to follow
The Independent Online

Citizens of the North-west ofEngland can relax in the knowledge that their Member of the European Parliament is fighting their corner. Nick Griffin has been busy writing to the EuropeanCentral Bank, asking whether there is any truth in rumours that members of the eurozone have begun printing their old currencies once again, in readiness for the collapse of the single currency. Sadly, Jean-Claude Trichet, the ECB's president, was not terribly forthcoming. "The ECB never comments on rumours," he told Mr Griffin. "As you know, the Treaty on the Functioning of the European Union grants the ECB the exclusive right to authorise the issuance of euro banknotes in the euro area."



Singapore drops its lunch break

We must move with the times, of course, but one cannot help feeling a little sad about the announcement from the Singapore Stock Exchange that it is to scrap its 90-minute lunchbreak later this year. The exchange has to compete with bourses around the world and bosses apparently feel that the fact it shuts down for an hour-and-a-half every day puts it at a disadvantage. Still, the stoppage is a reminder that the world was once a little more civilised.



Fund managers trade places

Conflicting signals about where to find London's wealthiest set: as we reported last week, Deutsche Bank is moving its private banking operations from the City to Mayfair in order to be closer to well-heeled potential clients. Now UBS has announced exactly the opposite move, switching its wealth management office from Mayfair to the City.



Aberdeen dives in to save the day

Hats off to Aberdeen Asset Management, which stepped in with a generous sponsorship deal after the organisers of the Scottish Traditional Boat Festival said the event's future was in doubt. It is a celebration of the maritime history of North-east Scotland and takes place in July each year, but bad weather has hit attendances over the past few summers and holed its finances. The fund manager has a history of this sort of sponsorship, supporting the Oxford and Cambridge university boat race for a number of years, but this is a much more local concern.

businessdiary@independent.co.uk

Comments