Business Diary: Krugman misses a world united
Saturday 14 May 2011
You know how older folk sometimes go all misty-eyed when they talk about how everyone pulled together during the War?
Well Paul Krugman, the Nobel Prize-winning economist, feels the same way about the financial crisis. "In a way, I miss the months that followed Lehman's failure," he tells New York Times magazine. "If it was a time of terror, it was also a time of clarity. The whole world was going to hell in a handbasket, and policy makers everywhere shared a common goal: stopping the plunge." Send that man a ration coupon.
Royal wedding hits the City
The City has suffered another blow. Not only are bankers public enemy number one these days, the nuptials of William and Kate has seen fewer of them able to find work. That's the claim of financial head-hunter Astbury Marsden, which says the City jobs market was 16 per cent down last month because the Royal Wedding bank holiday saw many firms delay recruitment. "You might think it is unpatriotic and a little bit unfair to blame the fall in City recruitment on Prince William and Kate," says the headhunter's boss Mark Cameron, before doing exactly that.
Bigging up the BBC's Biz stars
Is the BBC getting worried about the profile of its star reporters on financial matters? Although BBC Business Editor Robert Peston is still getting his fair share of screen time, in recent weeks he hasn't been as ever-present on the Beeb's bulletins as he once was. Still, there's no missing him on the BBC's business news website, where a huge new photo of him has been installed on the home page. Stephanie Flanders, the BBC's economics editor, has been given the same treatment too.
Goldman disliked but still respected
Who says public opinionmatters? Some 54 per cent of traders, investors and analysts have an unfavourable opinion of Goldman Sachs, the American investment bank, Bloomberg reports following a global poll. That chimes with a growing tide of criticism facing the bank. Yet four in five of those who were surveyed also think that the US Senate's recent report into Goldman's behaviour, which was pretty damning, will have no effect on the company at all.
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