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Business News

Credit crisis diary: Vince Cable's amazing double act

Vince Cable is in a minority of one in having emerged from the credit crunch with his reputation enhanced and now we know the secret of his success. At 10am yesterday, Vince was live on BBC News 24 talking about the Government's latest pensions blunder. Meanwhile, on Sky News, at exactly the same moment, who should pop up, again billed as live, on the same story? Vince again. So that's how he does it – covering every base is so much easier when you've cloned yourself.

These celebrities will float your boat

Given the credit crunch and the global economic slowdown, you might have thought the bottom would have fallen out of the market for posh yachts. But not if the calibre of celebrities signed up for the launch of Sunseeker 30 Metre, Predator 74 Sport and Pred-ator 64 yachts is anything to go by. Step forward, Only Men Aloud!, the winners of the BBC's Last Choir Standing show. And if they're not enough Bee Gees legend Robin Gibb will be there too.

All I want for Christmas

Sick of the X-Factor winner and the abomination of "Hallelujah"? If so, this is your chance to derail Alex's inevitable Christmas number one. Check out Tarquin Britten and the City Boyz with their credit crunch-themed track. Tarquin sings like an angel, though the bankers in the pub (sample lyric: "We're sorry we XXXXed up your Christmas") are less lovely. All proceeds go to a New Year booze-up, which is in keeping with the City putting itself first.

Lock the doors on your angry suppliers

In the run up the demise of Woolworth's, suppliers of goods to the retail chain were understandably nervous about whether they would be paid for merchandise already supplied. Woolies' buyers' department simply stopped answering the phone, but in China, more had to be done. Woolies had to beef up security on its distribution centre after it was besieged by local suppliers demanding the return of their goods.

Goldman ahead of the pack on currencies

Top marks to Goldman Sachs, which yesterday morning forecast a weakening in the US dollar to 90 yen within the next 12 months. Spot on, though the timeframe Goldman's analysts gave themselves was a little generous. Within 12 minutes – not months – the dollar was trading at 89.99 yen.