In the 2001 annual report, published in April 2002, he said “recent successful testing … has resulted in the resumption of marketing of the industrial Trent”.At the AGM on 30 May, the then chairman, Sir Ralph Robins, said: “Good progress was made with the introduction of new low-emission combustion systems for the indus-trial Trent, and marketing resumed in the fourth quarter of the year [2001].”A Rolls spokesman denied there were any inconsistencies between these statements and the marketing of the Trent. “These are not things you buy off the shelf – marketing of them takes a long time,” he said. He also blamed the depressed world energy market.Rolls has already made a £120m provision against the cost of the Trent project.. Allegations of “dirty tricks” have marred the upcoming election to replace Bill Morris as general secretary of the Transport & General Workers Union, in an increasingly acrimonious campaign. “There is no doubt that I have been subject to an extremely serious, well-thought- out and well-orchestrated dirty tricks campaign,” said Mr Woodley, a favourite to win the election. “I’m not prepared to allow anything to get in the way of my policies of fundamental change in the way the T&G is run.”Several trade union officials told The Independent on Sunday that some members had felt pressured to support either Mr Woodley or Mr Camfield, but both candidates strongly denied such tactics.Mr Woodley said the “dirty tricks” came from one candidate, but declined to point the finger.

However, his supporters confirmed they consider the problem came from Mr Camfield’s team.They are furious about literature supposed to have come from an aide of Mr Woodley, saying he would sack half the union if he was elected. Mr Woodley has also denied claims that Derek Hatton, the former militant, has given him aid. He has filed a complaint over a leaflet supposedly written by himself, which broke election regulations. It is alleged it was written by one of Mr Camfield’s supporters to cause trouble.Mr Camfield, though, said he had asked for details so he could investigate this allegation. But none had been forthcoming.He strongly denied using any untoward measures in his campaign. The other cand-idates, the moderately left Jack Dromey, another favour- ite to win, and Jim Elsby, have not attracted the ire of other candidates.

However, Mr Elsby has filed several complaints to the general secretary’s office, requesting an investigation into the way nominations have been made. There have been cases of nom- ination forms with alleged irregularities, said a source.In his campaign literature, Mr Elsby has called for an independent electoral commission to monitor T&G elections. “You will be surprised to learn that some candidates in this election have unlimited access to lists of members’ names and addresses, while other candidates are denied these,” he says.Ballots will be sent to the homes of trade union members this month.. The security guard eyed me suspiciously as I stood in the Manhattan rain outside the 92nd Street Y I just had to see it. The nannies dropping off their well-heeled charges testified to the establishment’s exclusivity. But it was still hard to believe that this little nursery school had cost the mightiest on Wall Street $1.4bn. The investigation also sought to reduce analysts’ conflicts of interest.

Disclosure of client relationships will be beefed up, and when a research analyst terminates coverage, he or she will have to write a report explaining why. The banks will fund independent research houses and put $80m towards “investor education”.Investor education? Presumably, that’s if the seven trillion dollars they lost in the tech wreck hasn’t yet done that. This column has already discussed the emails sent by a Merrill Lynch analyst, Henry Blodget, describing corporate client stocks that had buy recommendations as, in reality, a “POS” (or piece of shit). What was also revealed recently was that Morgan Stanley got an “independent” research house to publish “independent research” on stocks it was trying to float, by paying them millions of dollars. When their CEO denied the seriousness of this on Monday, he got a very public rebuke from the SEC.And then there was the 92nd Street Y.