Business Diary: Out of power, in at M&S?
Friday 16 July 2010
How do Marks & Spencer's shareholders, already hopping mad about the whacking pay package awarded to new chief executive Marc Bolland, feel about their chairman's job being hawked round the City as some sort of consolation prize for ex-government ministers? The top two contenders for the role, once Sir Stuart Rose finally steps down, are Lord Myners and Lord Davies according to City bookmaker BGC. Both lost their jobs in government when Labour got the boot in May.
Hunt plans road trip on the cheap
Jeremy Hunt is so committed to ensuring even the most rural communities get broadband access that he's promising a public field trip to Penrith later this year. At an industry get-together yesterday, the culture minister asked for a show of hands from people prepared to join him and he wasn't too downbeat when only five arms shot up. "Great, we can hire a van," he said. Hunt's on-message commitment to austerity is commendable.
Europe's sexist finance sector
Not so much glass ceiling, but glass door when it comes to Europe's financial services industry, it seems. According to the industry paper Financial News, the list of the 100 most influential people in European finance includes just four women, led by Sharon Bowles, the British MEP who chairs the European Parliament's Economic and Monetary Affairs Committee. The old boys' club isn't simply a British phenomenon, it seems.
Goldman in trouble again
More woe for Goldman Sachs, which has run into bother with June Breton Fisher, great-granddaughter of Marcus Goldman, the bank's founder. Researching a new book she is writing on the firm, she was put out to discover that the executive floor, supposedly adorned with paintings of every senior partner ever, did not have a picture of her grandfather. Unforgivable since Henry Goldman, the son of Marcus, was so prominent in building the bank into a powerhouse. One imagines her book may not be entirely flattering.
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