Business Diary: Second time lucky for Gowers in PR
Friday 03 July 2009
So best of luck then to Andrew Gowers, the former Financial Times editor, who yesterday began his new job as head of PR at the oil giant BP. Let's hope for both their sakes that this posting lasts a little longer than Gowers' previous spinning engagement – he was head of European PR for Lehman Brothers.
The Dutch say cheers to Europe's judges
Good news for the Dutch brewer Bavaria, which is free to carry on making its beer of the same name after an eight-year legal battle. The company was sued by a German association of Bavarian brewers who said they had the sole rights to the name because it enjoys geographical protection under European law. The European Court of Justice pointed out that the Dutch company has been using the name since 1925, well before geographic protection was given to the German region. In other words, it bought the first round.
Is Jabre losing his nerve?
Philippe Jabre, the high-profile hedge fund manager, has a message for his colleagues. Short-selling is "too dangerous" in the current market environment, Reuters reports him saying. Sounds a bit wussy for a man famed for taking risks, but Jabre adds he is having one of his best-ever trading years.
Qatar to the rescue of Polish history
Here's a heart-warming tale of global capitalism. When the Polish government realised that its Szczecin and Gdynia shipyards – two of the strongholds of the pro-democracy movement Solidarity in the 1980s – were on the verge of bankruptcy, it launched an international appeal for investors. Now a Qatari investment bank has stepped in to save the day.
Fetch the maths books
Good news for hard-pressed parents. The cost of school supplies has fallen by 10 per cent over the past year, according to a survey by internet-based Twenga. But parents still pay 15 per cent more than French families. No wonder French kids stay in education longer.
Number of the day: 87%
The fall in profits at the restaurants group owned by Gordon Ramsey over the past year.
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