It is surely little coincidence that Business Diary�s spell checker always tries to change the surname of Lloyds Banking Group boss Eric Daniels into �denials�.

It is surely little coincidence that Business Diary's spell checker always tries to change the surname of Lloyds Banking Group boss Eric Daniels into "denials". His cheery demeanour belies an ability to deftly avoid answering any question he doesn't like the look of.

Yesterday he pleaded ignorance to avoid passing comment on the £693,000-a-year pension secured by Sir Fred Goodwin, the departed boss of rival Royal Bank of Scotland.

"I have absolutely no idea. I am ill-informed. I saw a picture of Sir Fred on the front of the papers. But I had some other things to do in the morning."

Daniels had been up since the early hours explaining his own company's financial results to investors, most notably why he thought buying HBOS was such a good idea in the wake of its £10.8bn loss.

Iggotist with an AXA to grind
If one man has successfully summed up the cumulative impact of the bursting of the technology bubble, followed by the bursting of the credit bubble along with innumerable wars on the investment psyche, it is AXA Investment Managers' fixed income chief investment officer Chris Iggo. He began his latest piece of market commentary noting: "It's not been a great start to the new millennium, has it?"

Art for alternative asset's sake
FORGET any romantic notion of artists happily starving in a draughty garret as they pursue their vocation. The latest generation are proving hard-headed about the commercial side of their business.

Consider this missive from "Scotland's newest young fine art star" Frank To.

Fine artist To said: "With many investors reluctant to put their hard-earned savings into banks or stocks and shares at present, fine art offers an attractive alternative asset."

Not much there about the insights gleaned into the human soul, or the skills of his craft.

To will be exhibiting his work at the Albemarle Gallery in London during March.

Driven cyclist is new patron
PARTICIPANTS in the Saltire Foundation's year-long programme for aspiring entrepreneurs are going to get little sympathy if they complain of exhaustion.

The foundation has appointed as its patron world-record-breaking round-the-world cyclist Mark Beaumont. Last year he took 194 days and 17 hours to complete the 18,297 journey from the Arc de Triomphe in Paris.

The inaugural foundation fellowship will see participants spend four months at a US business school before undertaking work placements.

Beaumont said: "The drive and determination I apply to every challenge I undertake is not dissimilar to the mentality of successful entrepreneurs and business leaders."

www.saltirefoundation.com