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Business News

Business Diary: Mathematical mea culpa for Davis

Shock news: Evan Davis, the former BBC economics correspondent and all-round big brain, can't do multiplication. Davis was forced to take to Twitter yesterday to apologise to viewers of his documentary Made in Britain, which was shown on Monday evening, for exaggerating the size of Britain's trade gap. He'd said Britain needed 36,000 more companies of the size of Brompton Bicycles to close the gap – the actual figure was 3,600.

Fund managers avoid Doncaster

Some excellent tidings from PSigma Asset Management, best known for employing Bill Mott, one of the country's most talented fund managers. Mott's latest newsletter to clients reveals he'll soon be able to do even better. He is putting aside distractions to concentrate on the task of looking after their money – and so is his colleague Ian Chimes. "With both my beloved West Ham and Ian Chimes' Birmingham City suffering the ignominy of relegation, I can assure you that our focus on fund management next season will be even greater than ever," Mott explains. "We have agreed that Doncaster Rovers away, on a wet windy night, is a trip we shall not be making next year."

Posh property thanks to RBS

Are you looking for a posh pad in upstate New York? If so, Royal Bank of Scotland may have done you a good deed. One of its former employers, Jim Glover, got caught filching money from the bank last year and recently pleaded guilty to fraud charges in a US court. Glover is now awaiting sentencing, but is already raising money for the substantial penalties he will face in addition to probable jail time. And so his eight-bedroom dream home, recently completed but never lived in, is coming up for auction. Even better, there's no reserve price.

Home truths from KPMG?

A survey revealing that, in austerity Britain, more companies are falling prey to employee fraud has made a few headlines in recent days. But are we the only people to have noticed that one of the key findings, that the most likely criminals are aged between 36 and 45 and work in accounts, comes courtesy of leading accountancy firm KPMG? Have they been stung?