I've speculated before that HSBC's insurance boss, Clive Bannister - the son of the original four minute miler, Sir Roger - might want to consider doing a runner from the bank. And who could blame him? Chief exec Michael Geoghegan has decamped to Hong Kong (leaving UK staffers wondering if they too should desert London) while the bank's rowing back from sections of insurance, after putting its motoring arm into run-off plus selling its insurance broking business to Marsh & McLennan for £135m.
But was I too quick off the blocks? I see that the Office of Fair Trading is now asking for interested parties' views on the Marsh deal. Might Clive have a couple more laps to run before trousering that big bonus?
Monday, 8 February 2010
Sunday, 7 February 2010
Friday, 5 February 2010
Damascene connection
Pity Peter Oborne, the former City hack turned political commentator and broadcaster.
Oborne has been in Damascus filming for Channel 4 and, having finished the gig, boarded his plane back to London.
Or so he thought. In fact, I'm told that he landed in Turkey having somehow hopped on the wrong plane and has been struggling to secure a flight home since. D'oh!
Oborne has been in Damascus filming for Channel 4 and, having finished the gig, boarded his plane back to London.
Or so he thought. In fact, I'm told that he landed in Turkey having somehow hopped on the wrong plane and has been struggling to secure a flight home since. D'oh!
Wednesday, 3 February 2010
Back of a fag packet economics...
Imperial Tobacco reports that UK duty-paid cigarette sales rose by 1pc during the last quarter - the first increase following years of decline - February 2, 2010.
"Smoking may still be on the rise in developing countries, by around 3.5% a year, but in most of the industrialised world, it's all falling numbers" - pop-columnist-turned-occasional-political pundit and all-round pompous pontificator, John Harris, Guardian February 3, 2010.
Tuesday, 2 February 2010
The damned remain united
Having been brutally ousted by Joe Lewis, Simon Laffin's 59 days as chairman of pubco Mitchells & Butlers look like the corporate equivalent of Brian Clough's 44 day reign at Leeds "Damned" United. And just like Old Big 'Ead, he's not going quietly.
On today's letters page of the Financial Times, Laffin writes: "Shareholder activism is, rightly, being encouraged, but has the regulatory framework yet adjusted to this? An activist shareholder, or group of shareholders, with around 40 per cent of the equity can determine the composition of the board and, as we saw last week, effectively select the chairman."
Clearly, it's still a Laffin matter.
Monday, 1 February 2010
I'll tell you where I am - on the telly again
I see that this evening's episode of the BBC's rather contrived grifter show, Hustle, featured cameo appearances by Dragons' Den stars Duncan Bannatyne, Peter Jones and Deborah Meaden. Is there anything this lot won't do to appear on the telly?
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