Credit crisis diary: Looking forward to Elliot's hospitality

An invite arrives to a House of Commons reception next month to unveil a report on how to encourage investment in green technology. A worthy aim, but will the bash still be on by the time we get there? It's just that the invite comes from Elliot Morley, the MP who forgot he'd paid off his mortgage and claimed another £16,000 for it. What chance of him still being around in June to buy the drinks?

Another beautiful day for U2 star

Looks like Bono is set for another big pay day. LVMH, the French luxury goods conglomerate, is on the verge of taking a stake in Edun, the ethical fashion label that the U2 singer founded with his wife. Chairman Bernard Arnault won't be drawn on how much of Edun he wants to buy – or what he'll pay – but the owner of Dom Perignon, Tag Heuer and Louis Vutton isn't short of a bob or two.

No good news for British jobs here

The Government was understandably keen to crow about British jobs yesterday, as it announced its decision to buy a third tranche of Eurofighter Typhoon jets. But the contract doesn't seem to have been much use to Atlantic Inertial Systems of Plymouth, which has just announced 40 redundancies, despite its work making terrain avoidance software for jets including the Eurofighter.

Leed's mystery suitor goes quiet

Bad news for shareholders in Leed Petroleum. Investors were buoyed a couple of weeks ago by its disclosure that it had received a takeover approach. But Wednesday brought a more disappointing revelation: Leed said it was unable to give an update on the approach, on account of not being able to track down the mysterious potential bidder. And yesterday, surprise, surprise, Leed added that all talks have now ended.

How to create some insufferable guff

Creative industries could be the key to the recovery of Britain's economy – that much most people agree on, as long as there's plenty of emphasis on the word "could". Still, does that mean we should have to put up with the sort of insufferable guff published this week in a little joint venture between the British Council and a quango called Creative & Cultural Skills? It is 100 pages of pretentious twaddle from creatives claiming they can build a new economy. Try to avoid it if you suffer from high blood pressure.

businessdiary@independent.co.uk

Suggested Topics
Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Sales Assistant / Buyer

£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...

Recruitment Genius: Customer Service Advisor

£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....

Recruitment Genius: Compliance Manager

£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...

Day In a Page

The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate
Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'