Business Diary: Rastani urges you to revolt
Tuesday 22 November 2011
Remember Alessio Rastani, the trader who told the Beeb, "I go to bed every night dreaming of another recession" (much to the fury of many)? To his credit, Rastani was brave enough yesterday to address Occupy campaigners at the UBS building in Hackney they've taken over, urging them to revolt. "You have to invest in your mind, not just invest in the markets," he told the crowd. "If you want to hurt them, read and educate yourself about how the financial markets work. When you wise up, they cannot manipulate you."
Buffett hopes for a bargain at Tesco
Philip Clarke has had a tough time since taking over from legendary retailer Sir Terry Leahy at Tesco this year. But here's a bit of support from someone who knows a thing or two about well-run companies. "As you know it's a matter of record that earlier this year we bought some Tesco," Warren Buffett told CNBC yesterday. "If the price came down some on Tesco, I'd buy some more of that."
Toasting what the Brics built
Jim O'Neill's address to the CBI yesterday was as fascinating as all his speeches, but we're still waiting for a worthy follow-up from him to his invention of the Bric phenomenon a decade ago (it was he who coined the acronym to group together the growing markets of Brazil, Russia, India and China). Still, as O'Neill points out: "Over the course of the last decade, the Bric nations have created the equivalent of close to five new British economies."
Heavy metal no longer able to fly
Oh dear. Remember Astraeus, the airline for which Iron Maiden's Bruce Dickinson was a pilot? It was forced to cease operations yesterday amid financial difficulties. Astraeus became the unofficial airline of Dickinson's band, even decorating one of its jumbo jets in the Iron Maiden colours. Time for a re-release of the 1983 Iron Maiden hit "Flight of Icarus"?
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