Business Diary: HSBC cleans up its act at last
Saturday 26 February 2011
Good news from HSBC, which reports its annual results on Monday.
No, we don't have a sneak preview of the bank's numbers to offer, but we can reveal that staff sickness numbers in its US office are almost certain to be down. Public health records in New York reveal that HSBC's in-house staff cafeteria has just been given the all-clear by hygiene inspectors – a major improvement on two years ago when the establishment in question was accused of 19 separate breaches of theregulations. Inspectors foundevidence of infestations of mice and cockroaches.
The Libyans saw Madoff coming
Say what you like about the Libyans, but don't criticise their investment analysis skills. The country's sovereign wealth fund has big international holdings, as the Diary has already reported, but we can also reveal that it passed up on two opportunities. Diplomatic cables exposed by Wikileaks detail how the Libyan Investment Authority said no to investments with both Bernie Madoff and Allen Stanford. It is also said to have raised questions about the management of Lehman Brothers. If only they had told the rest of the world about all three.
Clifford reaches a new audience
Mutual back-slapping at the Association of Business Schools' conference for business school alumni, where the public relations guru Max Clifford was the guest speaker. Clifford, for whom leaving school at the age of 15 has been no obstacle to success, was full of praise for business students – and they were just as effusive about his willingness to share his secrets with the audience. Sadly not the secrets of his celebrity clients, however.
Well done Airbus, I mean Boeing
Embarrassment for Richard Trumka, the head of the US's labour movement, who had to reissue his press release after the award of a $35bn (£22bn) contract. Like many others, Trumka had clearly thought the contract would go to Airbus and had prepared a release on that assumption. When Boeing won the day after all, Trumka forgot to amend the headline on his announcement, which credited Airbus with the deal anyway. Cue a hasty correction.
Threat of 'catastrophic cascade of collisions' must be averted, warn scientists
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
Exclusive: Impact of immigrants on British workers ‘negligible’
Vince Cable: Teachers 'know absolutely nothing' about the world of work
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
The quiet diplomat: Catherine Ashton - recognised and admired in all the world’s troubled countries, yet ridiculed at home
- 1 Oxford is the least affordable city in the UK, where houses cost 11 times local salaries
- 2 Australian man Rod Sommerville reacts to bite from deadly snake by reaching for cold beer
- 3 North Korea elections: Kim Jong-un wins 100% of the vote
- 4 David Cameron resorts to paying for Facebook fans because not enough people like him
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