Newspaper article The Evening Standard (London, England)

City Spy

Newspaper article The Evening Standard (London, England)

City Spy

Article excerpt

THERE'S no organisation more guaranteed to make City Spy's blood boil than the Department of Trade and Industry. Here we are, facing the threat of globalisation (as the Prime Minister tells us, ad nauseam) and what does the Government department charged with grappling with the serious issues facing British business do? Er, it pumps money (your money) into baldness.

The DTI is investing [pounds sterling]1.85 million in new robots for use by quoted biotechnology firm Intercytex to help bring an experimental hairreplacement treatment to the market. None other than Science and Technology Minister Lord Sainsbury, pictured, has given his heavyweight backing to the project, enthusing: "This initiative provides a real opportunity to harness the world-class expertise we possess in the UK and direct it towards the task of wealth creation." You couldn't make it up.

ANY London baldies looking for a free return train trip and hotel stay in Manchester can sign up for Intercytex's latest trial. Chief executive Nick Higgins is looking for about 40 men who are "thinning" on top. Intercytex can cover travel costs but sadly medical regulations mean there is no fee. The trial involves injecting rejuvenated hair-follicle cells back into the scalp.

Perhaps Lord Sainsbury, who is receding, would like to have a go.

MUCH embarrassment at the SA Business Club, the City-based networking society for British-South African business. The club's prominent former chairman, accountant Paul Groves, has been sent to prison for three-and-a-half years in South Africa for stealing cash paid to him by clients to buy properties in London. Current club chairman Brian Hosking, said Groves' membership had been swiftly terminated- * TIME to call the top of the market for London's hedge funds? Thames River Capital, having earlier this year pulled plans for a float and lost respected chief executive Glyn Jones as a result, is now saying further farewells. …

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