Credit crisis diary: Bloomberg still trying to bury Jobs
Friday 16 January 2009
What has the wire service Bloomberg got against Apple's Steve Jobs, right? After Mr Jobs' announcement that he is taking six months off for health reasons, Bloomberg published a 1,200-word feature based on speculation from doctors around the world about what might be wrong with him – not a single one of the medics had any knowledge of Mr Jobs' case, though this didn't stop some speculating on his life expectancy. Bloomberg, you will remember, is the wire service that accidentally published Mr Jobs's obituary last year. They really don't seem to like him.
AstraZeneca rings the changes
Bad news for lovers of brass band music in the Macclesfield area. AstraZeneca, the giant pharmaceutical company, has axed its £3,000-a-year sponsorship of the town's Silk Brass band, as it seeks to cut costs. The support has been provided since 1997, and to add insult to injury, the area is still reeling from AstraZeneca's decision last year to axe 700 jobs locally. The good news is the band says it will play on.
The legal eagles cashing in on Rock
The Northern Rock judicial review looked finely balanced as it drew to a close yesterday, but the clear winners were the barristers of Blackstone Chambers. The financial services specialists provided seven of the 11 barristers in court, with at least one acting for each of the five parties involved. This nationalisation obviously wasn't bad news for everyone.
Don't worry about God, but shorting is out
Investment managers considering replying to an advertisement placed by the Church of England, which wants an investment director to look after its £5.7bn investment portfolio, apparently don't have to be regular worshippers, but need to share the aims of the organisation. Here's one tip: consider the views of John Sentamu, Archbishop of York, who said last year: "To a bystander like me, those who made £190m deliberately underselling the shares of HBOS, in spite of its very strong capital base, and drove it into the bosom of Lloyds TSB bank, are clearly bank robbers and asset strippers."
Bean counters are all in a spin
Confused about where you stand in the credit crunch? Put yourself in the place of communication executives at the big accountancy firms. One put their predicament thus: "Our small to mid-sized business team think the story is about banks refusing to lend, but as soon as we try to say that, our banking partners say we can't because the banks are our clients. We can't have a clear opinion on anything."
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