Race against the assets: Swiss Re hopes that laying off 10% of its 11,560 workers will help it escape the tractor beam of $50 billion in illiquid assets.
No harm done: Armenia and Turkey are close to re-opening their borders. Wait for one of the most evasive and subtle descriptions of genocide ever. -- Hey, the FTSE’s over 4000 again! Let’s party like it’s 1998 or 2003! -- Obama, how about you overlook Prince Phillip’s little joke, and England will overlook how your wife destroyed the centuries-old tradition of depriving monarchs of hugs. Seems like the Queen enjoyed Michelle’s embrace, however. I wonder if she’d have enjoyed one from Bush. Merkel didn’t.
There is no pleasing protesters: In London, the police brought in Portaloos after some had used the Bank of England’s walls. “For years they’ve pissed on me. Now I get to return the favour,” said one. -- I saw Billy Bragg at the protests yesterday. Oh he talked about homelessness but, really, he was thinking of how Google was robbing him every time someone plays him on YouTube. -- In Thailand, thousand of Thaksin supporters have forced an offer from the deputy PM to negotiate. The Red Shirts aren’t interested.