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Business News

Business Diary: Protesters pass on Paulson

John Paulson the über-wealthy hedge fund manager, has not taken kindly to the Occupy Wall Street campaign, which is protesting noisily about his industry's excesses.

"Instead of vilifying our most successful businesses, we should be supporting them and encouraging them to remain in New York and continue to grow," he complains.

Mr Paulson will not have been mollified by the straw poll conducted by the Wall Street Journal yesterday – it couldn't find a single protester who had heard of him.

Cheap deals for City slickers

Good news for bankers on a budget: it is no longer necessary to stay in swanky hotels after burning the midnight oil, and clients coming to town need not cost you the earth either. For Travelodge has opened a new outlet just round the corner from the Bank of England. London Bank Travelodge has 75 rooms, with prices starting at £19 a night. Austerity in the City at last, you might say.

Cable cut off from rest of world

Vince Cable has found it hard to keep his halo shiny since making the leap into Government, but the evidence of our spies is he may not be aware he is no longer Britain's favourite politician.

One recent visitor to Mr Cable's office at the Department for Business tells us the really striking thing about it is the total lack of technology – with no computer, TV or even a mobile phone in evidence.

A bit odd for a man who is also in charge of innovation and skills.

Bank reformer set to go native?

More news of Clare Spottiswoode, who didn't make this week's hearings into the Independent Commission on Banking's reforms. We hear the banks are expecting to see more of the ICB commissioner. She suggested that ring-fenced operations should have their own boards. And who might serve on such boards? The bankers are betting Ms Spottiswoode will be one of the first.