Credit crisis diary: Deutsche man will outpace all rivals
Friday 19 June 2009
No one can say that Deutsche Bank's new UK chief executive is not fit for the job. When not running a successful investment banking operation, Colin Grassie spends his time running triathlons. The former Scottish youth rugby international apparently has a personal best of just under 14 hours for the full ironman triathlon, which consists of a 3,800m swim, a 180km bike ride and then a marathon.
Posen forced back to the books
New Bank of England Monetary Policy Committee Adam Posen has a summer of study to look forward to. A renowned expert on Japan, Posen is currently based in the US and also has a good working knowledge of the eurozone. But, he confessed yesterday, he still "has a little learning" to do about the UK economy. Posen has until September to get clued up.
Rio gets more bad news from Beijing
Looks like the Chinese are warming to the task of sticking two fingers up at Rio Tinto, which dumped state-controlled Chinalco as a financing partner in favour of BHP Billiton a couple of weeks ago. Beijing's latest insult to Rio is a statement on the ongoing negotiations over the iron ore price, which are at a hugely delicate stage. The Chinese happily confirm they're in talks on the matter with rival miners Vale and Fortescue, but Rio seems to have been snubbed.
Travelodge winning the battle of the beds
Good to see some healthy competition in the cut-throat hotel market. Travelodge took 33,000 room bookings yesterday morning after launching discounts for the Christmas period, and the budget chain wasn't shy about rubbishing the opposition. "The Travelodge sale far outstripped its rival, Premier Inn's recent summer sale that conjured sales of just 7,900 reservations in four days," the company crowed.
Stuck in this marriage for life
Courts rarely order couples to stay together, but that looks like being the outcome of an ongoing hearing in Connecticut. Caren Forbes has been trying to divorce her husband, Walter, who is serving a 12-year prison sentence following an accounting scandal. Caren says the 27-year marriage has broken down "irretrievably" but US prosecutors are blocking the divorce, alleging it's a ploy by the couple to reduce the compensation Mr Forbes was ordered to pay victims of the fraud of which he was convicted.
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