Buffett writer set to begin a fresh chapter at the Pru

BRITISH insurer Prudential announced yesterday that former Morgan Stanley senior adviser Alice Schroeder is to join its board next Monday as an independent non-executive director.

Schroeder was part of Berkshire Hathaway boss Warren Buffett’s inner circle for many years before the pair fell out over the official biography that Schroeder wrote about the Sage of Omaha in 2008.

Buffett gave Schroeder unfettered access to personal records and thousands of hours of his time in order for her to pen the Snowball tome. However, Buffett cooled relations between the two after Schroeder published details about the women in his private life.

So will Tidjane Thiam, the man from the Pru, be looking over his shoulder at board meetings? It seems not, as the company assured The Capitalist: “She’s not here to write a book.”

In the spirit of openness and transparency, mining group ENRC gave its investors gameshow-style electronic keypads on which to cast their votes at yesterday’s annual meeting. A whopping 100 per cent of shareholders approved the first motion, that “a good summer is good for morale”, used to test the new technology. But that ringing endorsement of the weather came from the couple of dozen investors – holding around 700,000 shares, or 0.05 per cent of the total stock – who actually turned up in person to vote. All in favour, say aye.

It was a good omen ahead of the Ashes test when Australia were thrashed by India – the Aussies were all out for 65 and lost by 243 runs – at the ICC Champions Trophy warm-up match on Tuesday. However, English cricket fans weren’t the only ones celebrating. One City punter made over half a million pounds from just seven bets on the game. Luckily for spread betting firm Spreadex, which paid out on the wager, The Capitalist hears that the same client promptly lost a chunk of it on the Lions rugby game yesterday making the loss more bearable. Easy come easy go, as they say.