Business Diary: Power company turns lights out on FA Cup

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The Independent Online

So who's going to cough up at least £8m a year to put their name behind the FA Cup, now that the German power company e.on has decided to pull the plug from next year. The hot favourite, according to bookies at Ladbrokes, is the mobile phone operator 02. It makes the company a 6/1 shot, given that it is quite keen on sports sponsorship (Arsenal FC and England and London Irish rugby are already in its portfolio), followed by Virgin (12/1), Vodafone (14/1) and Emirates Airlines (14/1). Whoever it is, we might at least see an end to daft and gimmicky attempts to make the Cup the first "carbon-neutral" sporting competition.

Decressin depressing at the monetary fund

Diary is pleased to note that Jörg Decressin, the august senior economist at the International Monetary Fund no less, has recently been making optimistic noises about the world's economic prospects. Just one question, though. Why, when his name is typed into the search box of the IMF website, does it pop up with the legend: "Did you mean Jörg Depression?"? We hope they're not trying to tell us something.

Hard-up coke dealers resort to cold calling

With excess being frowned upon and (some) belts being tightened on Wall Street, spare a thought for the area's friendly, neighbourhood cocaine dealers. Where once they delivered to the doors of their trader clients, many are now finding their services no longer required, New York magazine reports. Some have even resorted to cold calling in an attempt to pay the bills, taking their place alongside the usual hawkers of debt advice, loans and encyclopedias. It's an ill wind that blows (or snorts).

No full disclosure is required on Wall Street

Larry Fink, the chief executive of Black Rock, the banking analyst Meredith Whitney (the first to call Citigroup's myriad of problems) and the hedge fund manager David Einhorn are all new entries in Vanity Fair's annual list of the 100 most powerful providers in the information age. Diary wonders whether the celebrity photographer Annie Leibowitz – responsible for many an eye-catching front cover – will be asking any of them to strip for a future edition of the magazine.

Number of the day: 10%

The value of unemployment benefit compared to earnings, down from 17 per cent in the 1980s, according to the TUC.

businessdiary@independent.co.uk

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