Column Eight: Slimming not for the wives
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Your support makes all the difference.PETER Middleton, the motorcycling chief executive of the Lloyd's of London insurance market, was in ruthless mode as he announced the 600 job losses yesterday to assembled journos. Even so, his response of 'Christ, I don't know,' to one question seemed a little strange coming from a former monk.
Mr Middleton was not entirely convincing about paring every expense in Lime Street. Spending on flowers? To be slashed to the bone. What about those famous lunches for wives of the members of the ruling council? 'Umm, a certain amount of hospitality is the civilised thing to do,' came the thoughtful reply.
THE FAYED brothers are set to create a sister hotel for their Ritz in Paris. The Harrods proprietors were yesterday given consent to convert the Harrods Depository - a warehouse in Trevor Square the other side of Brompton Road from Harrods - into a 144-room hotel.
Guests at the Harrods House Hotel will be able to use the underground passage linking the depository with the store. No news yet on the fate of the eight black stallions stabled in the basement.
TWO YEARS after launching insurance policies for companies facing hostile takeover bids, TOI Corporate Services has unveiled a new policy. It is for directors sacked in the aftermath of a takeover. A pounds 100 premium buys up to pounds 50,000 in legal fees to pursue your golden parachute. Insecure bosses be warned: claims are void if the takeover is made in the first three months of the policy.
ERNEST Mario, smooth chief executive of the drugs group Glaxo, wants to see means-testing introduced for NHS prescriptions for pensioners. 'A lot of retired people are doing very well. Even having to reach into your pocket for a pound would make a difference,' says the American, who was paid almost pounds 1m last year.
Dr Mario, presenting the Glaxo results, was a mine of statistics: 150 tonnes of unused drugs are languishing in British bathroom cabinets. And 90 per cent of a person's medical costs are incurred in the last 16 weeks of life.
DAYS before Sir Michael Angus and Howard Davies of the CBI were due to lobby President Bill Clinton on his plans to recoup dollars 45bn from British and other foreign companies by tightening transfer pricing rules, Mr Clinton has decided that only dollars 3.8bn can be collected. Despite the climb-down, the duo have no plans to cancel their flights.
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