Charlotte Hogg, the Bank of England's new deputy governor for Markets and Banking, has done the honourable thing and tendered her resignation.
She had only been in the position since the beginning of the month but got off to a terrible start by not formally registering that her brother worked for Barclays.
This was not exactly a secret – the Hogg family has for more than a century been extremely well-connected – but there’s probably a quote about Caesar’s wife that applies here.
The Treasury Select Committee was particularly unforgiving of her error of judgement, saying: “The committee considers that her professional competence falls short of the very high standards required to fulfil the additional responsibilities of deputy governor for Market and Banking."
READ: Charlotte Hogg's resignation letter in full - https://t.co/RdyqBTEKbh — The Bank of England's chief o... pic.twitter.com/n5WOipQLGG
— LifetimeCS (@CsLifetime) March 14, 2017
Hogg was once talked about as being the most likely person to be the first governor of the Bank of England. It’s looking unlikely now but stranger things have happened in politics. Michael Heseltine is still getting sacked from positions at the age of 84 – last week he was dumped as a government adviser – and somehow seems to bounce back.
Some commentators want other members of the Hogg dynasty to follow her lead.
Charlotte Hogg resigns from BoE. Now her mother must resign from FCA for conflict over John Lewis. #HSBCfraud
— Mr Ethical (@nw_nicholas) March 14, 2017
In fact, looking at the response on Twitter, there do not seem to be a lot of people who have sympathy for her.
Chocolate biccies and a bottle of gin
The latest changes to the products used in calculating the retail price index once again provide a fascinating insight into changing social trends in Britain.
For instance, half-coated chocolate biscuits and gin are in, so we’re clearly going to hell in a heavily burdened handcart.
On the other hand, cycle helmets and children’s scooters are also in, so we’re also making the effort to stay active.
Mobile phones are out.
I know what you are thinking: surely not? Everyone and his dog has a mobile phone now, don’t they?
Yes, they do, but we’re talking about the old-school feature phones that no one except dyed in the wool sticks-in-the-mud apparently uses now that smartphones are de rigeur.
All of this just as Nokia went all retro on us earlier this month.
#Nokia3310 is back with a trendy makeover. Click to find what this legendary phone is expected to offer. https://t.co/K5c4KvbNZA pic.twitter.com/WylaXL0Bh8
— Pricejugaad UAE (@PricejugaadUAE) March 7, 2017
French correction and Ocado-doo
Things are looking pretty bad for French Connection Group PLC (LON:FCCN), the once trendy clothing store.
I blame Brexit myself.
It has reported a loss for the fifth year in a row, but Stephen Marks – who is both chairman and chief executive officer (well, it saves time on the appraisal process) – said the reaction to this year’s collections has been very strong so far this year.
More same from FCCN - as ever Marks claims things are improving with little if any real proof. Cash only down a bit but mainly Stock reduced
— WheelieDealer (@wheeliedealer) March 14, 2017
It’s also still looking like an uphill struggle for groceries delivery specialist Ocado Group PLC (LON:OCDO).
It saw its gross retail sales grow by 13.1% in its first quarter, unchanged on the same stage in the previous year, as average order volumes rose but order amount fell reflecting pricing pressures.
I must say, the chap purporting to be an Ocado delivery man in the image adorning Proactive’s coverage of the story looks suspiciously handsome, happy and unhurried.
You don’t think he is a model, by any chance, do you?
#OCDO Still no news on an international deal from online grocer Ocado, while currency factors are starting to impact https://t.co/dchVqDLgeA
— Jonathon Hopkins (@jonhoppo) March 14, 2017