Business Diary: Shares set for a Superbowl surge?
Wednesday 26 January 2011
Good news for those with cash on Wall Street: this year's Superbowl match-up between the Pittsburgh Steelers and the Green Bay Packers is set to herald soaring share prices. According to market researcher Capital IQ, when the Steelers are in the big game the S&P 500 index surges by an average of 25.2 per cent for the calendar year, and by an average of 24.2 per cent when the Packers are in. Numbers like that should help mollify all those Wall Streeters crying over the demise of their beloved New York Jets.
Managing to win a writing award
It always strikes us that the people who are really good at management rarely have the time for reading management books, much less writing them. But congratulations to Henry Mintzberg, who was named the winner of the CMI Management Book of the Year, at an awards ceremony at the British Library last night. The title of his must-read tome? Management.
London calling for Mr Gulliver?
Reports that HSBC's new chief executive, Stuart Gulliver, is considering moving back to London are a little premature, it seems. The bank rushed out a denial in response to an FT story that the new chief executive was planning to be based in Canary Wharf. But Mr Gulliver, who has threatened to pull the bank's headquarters out of the UK if Vince Cable keeps being mean, will just be paying UK tax because he will be spending an awful lot of time here. His "main office" will remain in Hong Kong. Phew, glad that's been cleared up, then. So can we say welcome back now? Or not?
Now God's on the case of BP's Bob
As if BP's Bob Dudley didn't have enough problems, what with the aftermath of the Gulf of Mexico spill to deal with, together with a raft of associated legal claims and a deal with the Russians that his American countrymen don't like, now he's got God on his case (well, up to a point). Faith-based investors on both sides of the Atlantic have agreed to team up with regards to BP in the wake of the spill. The aim is to ensure that safety, climate change and stewardship generally are taken more seriously at the oil giant. We doubt that even the most rabid of atheists could find much to disagree with about that.
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