Business Diary: Lloyds buries the bad news
Wednesday 10 August 2011
Taxpayers hoping one day to get their money back from Lloyds Banking Group will be pleased to see it doesn't miss a trick. What better day than yesterday to announce 1,300 job losses? After all, the bank knew people would be focused on the riots. Just to make sure it was slipping the announcement under the radar, it was headlined "Lloyds Banking Group announces organisational changes" – the words "jobs" and "losses" were nowhere to be seen. With nous like this, it can be only a matter of time before the black-horse bank pays us all back.
It seems Roubini called the crash
We reported yesterday on the frustration of Nouriel Roubini, the doom-mongering economist who has been on holiday in a remote corner of Maine during the latest outbreak of the crisis. Frustrating for us, too: if only he hadn't been on vacation, he could have warned us about the sell-off in the US on Monday, since he knew it was coming. "[John] Mauldin and me won the weekend bet at Camp Kotok in Maine that the Dow would fall more than 300 points today," he tweeted late on Monday, adding magnanimously, "I will give away my prize to charity".
LG defends the mobile's honour
This is one of the more specious surveys we've seen from PR operations, but top marks to mobile phone company LG for timing. We woke up yesterday to news coverage of how smartphones were playing an important part in the riots, with one Radio 4 contributor explaining that they have become "weaponised". Far from it, says LG – the smartphone is a "modern-day sex object", it claims, with 51 per cent of Britons admitting they would use their phone while in bed with a partner.
Former dragon is still on fire
Proof that former dragons never stop breathing fire: James Caan may have stood down from the BBC's Dragons' Den, but he is still working hard on the investments he made while on the show. Take Motormouse, which makes computer mice designed as miniature classic sports cars or Mini Coopers – it has just completed negotiations with a string of airlines, including British Airways, Emirates and KLM, to sell its wares on their aircraft. Caan is very proud, we hear.
- 1 British tourists 'murdered' in Thailand: Pair's bloodied bodies found naked on Koh Tao beach
- 2 Vivienne Westwood says 'Yes' to Scottish Independence by declaring: 'I hate England'
- 3 Welcome to Cameroon, where drinking Baileys can lead to imprisonment
- 4 Lego breaks out of the toy box and heads for the gallery
- 5 Vogue under fire for 'Big Booty' article
British tourists 'murdered' in Thailand: Pair's bloodied bodies found naked on Koh Tao beach
Jihadi John': MI5 may have identified Isis militant who killed David Haines but options limited
Vivienne Westwood says 'Yes' to Scottish Independence by declaring: 'I hate England'
David Haines beheading: David Cameron says Britain will hunt down Isis 'monsters' shown in video murdering aid worker
Piers Morgan attempts to save the Union by promising to go back to the US if Scotland votes 'No' to independence
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
Salmond accused of laughing off national debt with ‘what are they going to do: invade?’ joke
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