MT's week in 60 seconds

This week: boring Budgets, chastised chairmen and gallivanting Governors...

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Last Updated: 06 Nov 2012

This week’s been all about the Budget – and if you managed to stay awake through Alistair Darling’s interminable speech, you won’t have been left with much to celebrate – particularly if you’re a binge-drinking, Land Rover-driving, cigarette-smoking non-dom. But with the US economy looking more like a basket case with every passing day (not even a £200bn injection of funds has helped to revive the markets), Darling didn’t exactly have much to shout about. Perhaps he should have just blamed it all on his boss.

Elsewhere, it’s been a big week for some of UK plc’s Most Admired leaders. Sir Ken Morrison bowed out from the supermarket chain after a big profit hike, while Sir Stuart Rose was promoted to executive chairman of M&S – much to the chagrin of shareholder groups. But one shareholder did have reason to celebrate: activist investor Nelson Peltz, after Cadbury finally completed the demerger of its drinks arm. BAA also had some good news when the CAA increased landing charges at Heathrow and Gatwick – although the airlines were not amused

Then again, there’s always someone worse off. Ask New York governor Eliot Spitzer, forced to quit this week after being implicated in a high-class prostitution ring (and what an interesting business it was too). We’d find it hard to believe that such a well-educated lawyer could make such a crass mistake – were it not for the fact that eight year olds can apparently pass law school exams after a week’s revision...

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