People and Business: Heated words as not-so-steady Eddie takes off

EDDIE GEORGE, the Governor of the Bank of England, is in danger of losing his nickname "Steady Eddie". Just ask Paul Linford.

Mr Linford is the Newcastle Journal correspondent who recently caused a political storm when he quoted - misquoted, according to the Bank - Mr George as saying that job losses in the North were "a price worth paying in order to keep inflation down". Giving evidence to MPs on the Treasury Select Committee yesterday, the Governor wasted no time in denouncing Mr Linford as a "sensation-seeking journalist".

Worse was to come. After the Governor had finished giving evidence to MPs he approached Mr Linford in the crowded committee corridor. Mr George and Mr Linford had a brief, but heated, exchange, which ended rather abruptly when the Governor declared: "Go away, you silly man."

A not-so-steady Eddie then stormed off, the unkind laughter of journalists ringing in his ears.

WILLEM BUITER, a member of Mr George's Monetary Policy Committee, gave a fascinating insight into economists' sense of humour this week.

Addressing the Society of Business Economists, Mr Buiter cracked a joke about the American hedge fund that nearly sparked a global meltdown in the summer. "Long-Term Capital Management should have been renamed Short- Term Capital Mismanagement," he said. Apparently the roar of laughter from the gathered economists could be heard several blocks away. How sad.

GUY HANDS, Nomura's securitisation guru, has bought a pounds 4m mansion in Sevenoaks called Churchill College, which is being renovated at great expense. It is "the talk of Sevenoaks", I hear from my suburban colleagues.

SIMON BRISCOE, former head of research at Nikko, is not happy at his treatment by Salomon Smith Barney, the US investment bank that has taken on a number of Nikko's analysts following the Japanese house's decision to call it a day in the UK. Salomon offered Mr Briscoe what he felt was the City equivalent of a job "counting paper clips" and so he quit. Storming off seems to be catching this season...

JACOBS HOLDINGS has come a long way since former Lloyd's insurance broker Michael Kingshott took control from the last family member, John Jacobs, to run the 120-year-old shipping firm four years ago. Then the business consisted of 32 staff. Now Mr Kingshott, managing director, employs more than 1,600 people in shipping, road transport, distribution and property development.

Yesterday he poached Stephen Hepplewhite from Hays Group to be managing director of the shipping division, which includes Dart Line, set up two years ago, and Thames Europort, founded a year before. Last week Jacobs bought the Horizon transport business, which will be folded into its existing division under Wayne Denton, formerly of Securicor. Mr Kingshott is bullish about more deals: "Expect something next week," he says.

INCHCAPE continues to reinvent itself as a motor distributor. Yesterday it promoted Alan Ferguson from finance director of the international motors division to fd for the main board.

Mr Ferguson, who has been with Inchcape since 1983, will take over from Les Cullen on 1 January. Mr Cullen and Philip Cushing, Inchcape's current group chief executive, will help out with the restructuring until next June when they will both leave, and Peter Johnson, currently head of Inchcape Motors International, will take Mr Cushing's place.

I RECEIVED a press release yesterday headlined "Battle opens first ever British fashion designer industry conference". Was it handbags at dawn? No such luck. It was just John Battle, Minister for Energy and Industry, going on about his speech at a fashion conference on Wednesday.

News
Russia Today’s new UK channel began broadcasting yesterday. Discussions so far have included why Britons see Russia as ‘the bad guy’
news

New UK station Russia Today gives a very bizarre view of Britain

Voices
Left: An illustration of the original Jim Crowe, played by TD Rice Right: A Couple dressed as Ray and Janay Rice
voices

By performing as African Americans or Indians, white people get to play act a kind of 'imaginary liberation', writes Michael Mark Cohen

Arts and Entertainment
music
Life and Style
fashion
PROMOTED VIDEO
News
ebooksAn unforgettable anthology of contemporary reportage
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

The benefits of Recruitment at SThree...

£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...

Trainee Recruitment Consultants

£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...

Finance Assistant - Part time - 9 month FTC

£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...

Marketing Manager

£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...

Day In a Page

The drugs revolution starts now as MPs agree its high time for change

The drugs revolution starts now as MPs agree its high time for change

Commons debate highlights growing cross-party consensus on softening UK drugs legislation, unchanged for 43 years
The camera is turned on tabloid editors in Richard Peppiatt's 'One Rogue Reporter'

Gotcha! The camera is turned on tabloid editors

Hugh Grant says Richard Peppiatt's 'One Rogue Reporter' documentary will highlight issues raised by Leveson
Fall of the Berlin Wall: It was thanks to Mikhail Gorbachev that this symbol of division fell

Fall of the Berlin Wall

It was thanks to Gorbachev that this symbol of division fell
Halloween 2014: What makes Ouija boards, demon dolls, and evil clowns so frightening?

What makes ouija boards and demon dolls scary?

Ouija boards, demon dolls, evil children and clowns are all classic tropes of horror, and this year’s Halloween releases feature them all. What makes them so frightening, decade after decade?
A safari in modern Britain: Rose Rouse reveals how her four-year tour of Harlesden taught her as much about the UK as it did about NW10

Rose Rouse's safari in modern Britain

Rouse decided to walk and talk with as many different people as possible in her neighbourhood of Harlesden and her experiences have been published in a new book
Welcome to my world of no smell and odd tastes: How a bike accident left one woman living with unwanted food mash-ups

'My world of no smell and odd tastes'

A head injury from a bicycle accident had the surprising effect of robbing Nell Frizzell of two of her senses

Matt Parker is proud of his square roots

The "stand-up mathematician" is using comedy nights to preach maths to big audiences
Paul Scholes column: Beating Manchester City is vital part of life at Manchester United. This is first major test for Luke Shaw, Angel Di Maria and Radamel Falcao – it’s not a game to lose

Paul Scholes column

Beating City is vital part of life at United. This is first major test for Shaw, Di Maria and Falcao – it’s not a game to lose
Frank Warren: Call me an old git, but I just can't see that there's a place for women’s boxing

Frank Warren column

Call me an old git, but I just can't see that there's a place for women’s boxing
Adrian Heath interview: Former Everton striker prepares his Orlando City side for the MLS - and having Kaka in the dressing room

Adrian Heath's American dream...

Former Everton striker prepares his Orlando City side for the MLS - and having Kaka in the dressing room
Simon Hart: Manchester City will rise again but they need to change their attitude

Manchester City will rise again but they need to change their attitude

Manuel Pellegrini’s side are too good to fail and derby allows them to start again, says Simon Hart
Isis in Syria: A general reveals the lack of communication with the US - and his country's awkward relationship with their allies-by-default

A Syrian general speaks

A senior officer of Bashar al-Assad’s regime talks to Robert Fisk about his army’s brutal struggle with Isis, in a dirty war whose challenges include widespread atrocities
‘A bit of a shock...’ Cambridge economist with Glasgow roots becomes Zambia’s acting President

‘A bit of a shock...’ Economist with Glasgow roots becomes Zambia’s acting President

Guy Scott's predecessor, Michael Sata, died in a London hospital this week after a lengthy illness
Fall of the Berlin Wall: History catches up with Erich Honecker - the East German leader who praised the Iron Curtain and claimed it prevented a Third World War

Fall of the Berlin Wall

History catches up with Erich Honecker - the East German leader who praised the Iron Curtain and claimed it prevented a Third World War
How to turn your mobile phone into easy money

Turn your mobile phone into easy money

There are 90 million unused mobiles in the UK, which would be worth £7bn if we cashed them in, says David Crookes