A City enigma makes his Midland move

Article Abstract:

Sir Jeremy Morse, chairman of Lloyds Bank, attended Winchester and Oxford and comes from a brewing family at Steward and Patterson, East Anglia, taken over by Watneys. He started with Glyn, Mills and Co bank and was seconded to the Bank of England in 1965. At 36 he was seconded to the International Monetary Fund, Washington. He joined Lloyds in 1975 and became chairman in 1977. As non-executive chairman he keeps his role distinct from that of chief executive. The bid for Midland Bank offers a choice between remaining British or succumbing to a takeover. Banking needs an efficiency drive similar to the industrial one in the 80s.

Banking industry, Officials and employees, Mergers, acquisitions and divestments, Interview, Lloyds Bank PLC, Midland Bank PLC (London, England), Morse, Jeremy

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Labour market holds key to inflation riddle

Article Abstract:

The Bank of England continues to put pressure on chancellor Kenneth Clarke to raise interest rates in order to combat rising inflation. However, this does not necessarily mean that increasing interest rates would be the right thing to do. The Bank of England is very keen to make up for past policy errors, and may therefore be taking too rigid a view of the inflation target. The future of inflation will be determined more directly by labour market developments than by interest rates.

United Kingdom, Economic policy

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Dealer's confession fails to solve Enigma riddle

Article Abstract:

Antiques dealer Dennis Yates has pleaded guilty to handling the Abwehr Enigma G312 second world war encoding machine. It is not known who stole the machine, worth 100,000 pounds sterling, from Bletchley Park in Buckinghamshire, England, where a secret code deciphering operation was located during the second world war.

Cases, Theft, World War II, 1939-1945, Cryptography, Yates, Dennis

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