Business Diary: Royal Bank of Scotland still getting it wrong
Saturday 20 March 2010
Another success for the state-owned Royal Bank of Scotland, whose research department put a note out on Wednesday following the news that bus company Arriva had received a bid approach. The bidder was widely rumoured to be Germany's Deutsche Bahn, but RBS poo-pooed the idea. "Overall, we're sceptical," its analysts concluded. A day later, Deutsche Bahn confirmed that it was indeed the suitor.
In the firing line when dragons get angry
When Duncan Bannatyne wrote an article this week criticising the non-dom tax status of James Caan, his fellow Dragons' Den judge, he wasn't expecting much fuss. Responding to questions on Twitter about whether Caan would be cross, Bannatyne, left, said: "I think @jamescaan is grown-up enough to understand I am only acting in the best interests of my children & grandchildren." Maybe not. Within hours, a legal warning issued by Caan's people was doing the rounds.
Cobblers to you too, says Blacks Leisure
Blacks Leisure yesterday rejected Mike Ashley's Sports Direct's indicative takeover offer as "inadequate", but perhaps it should just have said "cobblers". Cobbler, after all is
Sports Direct's code word for Blacks. How do we know this? Because, Sports Direct left the word in its first release announcing its offer yesterday – "There can be no certainty an offer for Cobbler will be forthcoming" – before rushing out an amended version an hour later.
Brokers' education isn't what it was
Dumbing down at the London Stock Exchange's Chartered Institute for Securities & Investment (CISI)? Its new coat of arms includes the LSE motto, Dictum Meum Pactum, but the CISI clearly fears its members lack a classical education as it has opted to use the English translation of the phrase: "My word is my bond."
Number of the day: 5.4m
The number of Britons who spend more than they earn each month, according to a survey by uSwitch
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