Betaville

Silly season arrives...

Yes, it's that time that time of the year known as silly season (or the dog days of summer if your from across the pond).

In Europe, chief executives, bankers and hedge fund managers slope off to their villas or yachts in the Mediterranean while the juniors remain in the office to keep an eye on things.

That means not a lot goes on for a month. But the market needs stories, especially journalists, publishers and brokers. So, often frivolous news stories emerge in August that have a very tenuous link with the truth...