Saturday, June 16, 2007


The remit of the committee, to include Sir David Walker, a former chair of investment bank, Morgan Stanley International, and Philippa Foster Back, director of the Institute of Business Ethics [sic], will be confined to the firm's present and future conduct.
-- Woolf denies BAE review is knee jerk reaction to US investigation. Who wouldn't for £6,000 a day?

The Economist notes that the British defence sector employs 65,000 people, or 0.23% of those working in Britain, and accounts for 2.2% of all exports: "Leave aside for the moment Mr Blair's implication, no doubt cruelly unfair, that the Saudis take kickbacks and would be miffed if it were laid in the open".

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