Column Eight: Arresting advice for managers

Ian and Kevin Maxwell, indignant at the early morning nature of their arrests back in June, could have done with this. Class, an Italian magazine aimed at business managers, has published a mini-survival guide for use when police knock on your door at dawn with an arrest warrant.

Among Class's suggestions for the overnight bag are sweets, cigarettes and soft leather loafers or moccasins. Less immediately comforting than toffees, but probably more useful in the long term, is the supplementary list of a prisoner's rights.

Transactions on the New York Stock Exchange were threatened yesterday after a burst pipe flooded some of its computer rooms to a depth of three feet. The affected building was in - Water Street.

After Ofwat and Ofgas, we have Ofrail. (NB - the regulatory body for the railways has not yet been named, but unless the DoT has a rush of blood to the head Ofrail won't be far wrong). The Government is already advertising the post of Ofrail's director general.

The successful candidate will have to 'deal with domestic and international operators seeking access to GB rail network'. Further, he or she 'must ensure consumer protection for rail passengers . . . oversee competition in railway industry . . . ensure fair access and charging for all rail licence operators'.

Knowledge of railways or public transport, however, is 'an advantage but not essential'.

Robert Wood, chief executive of Henlys, was in victorious mood yesterday after the failure of T Cowie's takeover bid.

Attending the jolly knees-up at Charterhouse merchant bank, he was presented with a cake on which the icing recorded the final stakes held by both companies. Mr Wood took great pleasure in slicing a knife through Cowie's name.

Forget stamp duty, mortgage interest relief and lower interest rates. Persimmon, the Yorkshire-based housebuilder, identifies a much better stimulus for the housing market - divorce.

Separating couples, you see, occupy two houses instead of one. And at Persimmon's site in Towcester more than half of its sales came through marriage break-ups.

Linda Evangelista, super-model extraordinaire, wafts in (sadly in photographic form), advertising next week's arrival of ladieswear at M&S's City shop. What a shame for all you salivating salesmen that she won't be buying her pinstripes in person.