Credit crisis diary: What goes around comes around
Friday 22 May 2009
Somewhere in the world, Sir Fred Goodwin, Andy Hornby, Lord Myners and everyone else who has ever been given a hard time by the Treasury Select Committee – speciality, humiliating credit crunch leading lights – are smiling today. For Sir Peter Viggers – he of the Stockholm duck house expenses claim – is one of the TSC's stalwarts. Now he too knows what it feels like to have your dirty washing scrutinised.
Primark in no mood for a birthday party
Value fashion giant Primark is living up to its cheapskate reputation. Staff have not yet been told about what, if any, plans Primark has for a party to celebrate the 40th anniversary of the opening of its first-ever store, in Dublin in 1969. Of course, the Associated British Foods-owned retailer may be planning a surprise no-expenses-spared bash in Dublin for all staff, but then again maybe not.
Fuld finally falls on his sword at Lehman
Breaking news: Dick Fuld, the beleaguered boss of bust bank Lehman Brothers has quit his position as chairman of the board of directors. No, you haven't stepped back in time. Fuld never actually stood down as Lehman Brothers chairman when the bank collapsed – he's been helping the administrators – but finally feels the time is right to go. We don't have details of his leaving bash yet.
Shares plunge after CEO's death sentence
British Land shareholders have endured another torrid day, with the company reporting record losses. Still, look on the bright side – at least you're not invested with the Egyptian real estate company Talaat Moustafa, whose shares were down 26 per cent yesterday. Investors were shocked, you see, by news that the company's chairman and chief executive, Hisham Talaat Moustafa, had been sentenced to death for the murder of a Lebanese pop singer. British Land is a lot less risky.
Orange pumps it up
You've got to hand it to mobile phone giant Orange – it doesn't just do the high-tech stuff. For festival goers, Orange is now marketing a foot pump that you can plug into your phone when it runs down and you're caught without a charging point. A couple of minutes' pumping, says Orange, will give you five minutes of talk time.
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