Business Diary: Merrill Lynch stung by one of its own
Friday 21 May 2010
Red faces at Merrill Lynch, which had to call in the authorities after falling for a tall story told by the broker Steven Mandala last year. Mandala managed to convince Merrill that he was a partner in a leading asset management company looking after £300m of clients' money. The reality was that he was a very junior member of staff, but the bank only discovered the truth after hiring him, lending him $780,000, which he spent on a Ferrari and living the high life, and then watching him quit after two months (when he refused to repay the debt). Mandala has pleaded guilty to theft charges and faces a jail sentence. But the gullible bank hardly comes out of the tale smelling of roses.
Slump school for HP's black belt change staff
Good news for the IT giant Hewlett Packard, which has signed what it describes as a "lean" deal with the University of Portsmouth. The university is to train up HP's "black belt change champions", the company's elite executives, on "how to recession proof the organisation". Never mind all the jargon, surely the timing is a little out? Recession training would have been more useful a couple of a years ago.
Even Google's IT demonstrations go wrong
So much for Google's technology. At yesterday's demo of its move into internet TV, executives were embarrassed by a string of glitches. Try as it might, Google just couldn't get its wi-fi network working, which left it unable to control the pictures on its television. The adverts for toilet paper were bad enough. Then the room was left staring at coverage of Nicholas Cage's animal sex diet (Google it for yourself if you don't know the story).
A golden chance to poke fun at Goldman Sachs
This is childish we know, but it has come to our attention that one of Goldman Sachs' American press office staff goes by the name of Gia Moron. Talk about an open goal for the bank's enemies.
- 1 This is what happens when you tattoo Charmander on yourself, drunk, and with no experience
- 2 BBC election debate: The one photo that summed up the whole 90-minute leaders debate
- 3 18th century sex toy found in 'toilet of sword fighting school' in Poland
- 4 The Batman v Superman: Dawn of Justice trailer has leaked – watch
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
If I’m being racially abused I don’t need a white stranger with a saviour complex to rescue me
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
Russian warships in English Channel 'to conduct anti-aircraft and anti-submarine military drills'
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...