ANOTHER day and another unfortunate Libor mess for Barclays spinners to weave their way out of.
Court proceedings have revealed that the Barclays internal investigation into Libor-rigging by staff was known on the inside as the “Libor Employee Review process” – which was handily abbreviated to the rather ominous-sounding “LIER.” Pick your acronyms more carefully, folks.
■ “Can anybody spare some change?” was the cry on Friday night when Rentokil agreed to sell its City Link business for a mere £1. Rentokil boss Alan Brown (pictured) sealed the deal at midnight but spies tell The Capitalist that buyers Better Capital had to borrow a pound from somebody at Rentokil, for Better Capital chief executive Mark Aldridge to formally hand back. And yes, Brown will “absolutely" be keeping the coin.
■ Loyal readers will remember The Capitalist reported only last week that investment bank Liberum Capital had taken on former young offenders to train and work as baristas at the company’s in-office coffee shop. Now Nomura is beginning a partnership to raise money for the same charity – the St Giles Trust, which aims to break the cycle of offending. So will the bank be running a similar initiative any time soon? A representative promised to update The Capitalist “if any similar plans occur in the future.” Watch this space.