Business Diary: Heartbreak hotel at the banks
Saturday 11 September 2010
More proof, as if it were really needed, of the difficulty that businesses are having getting finance from the banks. One of the London branches of the Money Shop, a chain of pawnbrokers, has just taken delivery of a life-size bronze statue of Elvis Presley. The gentleman parting with his much-loved tribute to the King apparently needs the money to fund the next stage of his entertainment business.
Lunch is for wimps no more
Don't believe a word of it when rich City types justify their pay packets by whingeing on about their long hours. The Wall Street Journal reports that many New York traders have given up working during the middle of the day, on the pretext that market activity around the beginning and end of trading sessions is just too concentrated. The partners of one firm, Briargate Trading, even take the middle of the day out to play tennis, enjoy leisurely lunches, go to the gym or to spend time at their kids' schools. Nice work if you can get it.
An unexpected delivery?
Vince Cable's announcement yesterday that he plans to push ahead with the privatisation of Royal Mail will have surprised no one, with the possible exception of those who heard him speak this week at Darnall Post Office in Sheffield, which has just been saved from closure by a local charity. "I'm going to do everything in my power to support [Post Offices]," he told the locals. Selling off a good chunk of the Royal Mail Group to the private sector will be part of that strategy, then?
Whither next for Wetherspoon?
And finally... The Diary's congratulations to JD Wetherspoon for a decent set of results yesterday. While there had been some scepticism among analysts about the pub chain's decision to open many of its outlets at 7am to sell breakfasts, the move seems to have paid off handsomely, with morning trading really giving sales a lift. Sadly, there is no news yet on whether the pubs group plans to change its name to JD Greasyspoon.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...