Business Diary: Johnson moves into film business

Luke Johnson, the private equity mogul and Channel Fourchairman, has added yet another string to his bow: he gets an"executive producer" credit on The Flaw, a documentary about the financial crisis that makes its debut in British cinemas next week. We're ordering in the popcorn already.

Brazilian inflation exposed

Every so often the Office of National Statistics updates the basket of goods and services that it tracks when compiling inflation figures, in order to ensure the data properly reflects what we spend our money on. So when might the ONS follow the example of Brazil, where its opposite number has recently started including the price of a bikini wax in its calculations (up 12.4 per cent over the past year, since you ask)? It might be a while – the Brazilian statisticians point out that with the country's weather, many women in the country regard the service as a necessity. It's rather difficult to make the same argument here.

British business backs Twitter

A small victory for Twitter as it tries to work out how to make a bob or two out of its enormous user base. It is apparently almost twice as popular with largecompanies as social networking rival Facebook. Three D, the social media consultancy, says 63members of the FTSE 100 Index are now active Tweeters, while only 33 have their own page on Facebook. Burberry is the most keenly watched social networker, says Three D, with 4 millionfollowers. Poor old Cairn Energy comes in last.

It's a bubble, says Silicon Valley man

The debate rages on over bubble 2.0 – whether the enormousvaluations accorded to the likes of LinkedIn are justified or a speculative frenzy that is out of control. Still, one man who might be expected to defend the high prices of online stocks, Michael Moritz of Sequoia – the Silicon Valley investor that made its name with backing for Google and Yahoo – isn't sitting on the fence. "I think that the cuckoos have flown out of their clocks," he says. "But eventually gravity will take hold and the cuckoos will fall to earth." You have been warned.