Tesco is investing £60m large into branching out into India – not stores as such, but a wholesale cash-and-carry business in Mumbai. Tesco also signed a deal to help the Indian equivalent of Virgin, Tata, develop its hypermarket business from 4 to over 50 stores in 5 years. This isn’t the only foreign clime a career with Tesco can take you: it also has businesses in Europe, China, Thailand, and (albeit struggling) in the USA. It’s another thumbs up to the importance of India in the world’s economy, that has already seen the US Tesco rival operate over there alongside Bharti Enterprises. If you’re wondering why all these giants feel the need to snuggle up to a local firm to get work done down there, Indian law bars large overseas brands from operating at a retail level unless through wholesale, licence or franchise arrangements. Enjoy the anonymity of Tesco while you can friends.

So the mammoth world trade talks that began in 2001 have collapsed – presumably because they were held in Geneva so everyone was bored witless. Import rules would allow countries to protect poor farmers by imposing a tariff on certain goods in the event of a drop in prices. But the new world order of India, China and the US could not agree on the tariff threshold – particularly with food and fuel prices currently residing in crazy town. The talks have repeatedly collapsed in the last 7 years as developed countries failed to agree with developing nations on terms of access to each others’ markets. The US and the European Union want greater access to provide services to fast-growing markets like China and India. While, developing countries want greater access for their agricultural products in Europe and the US. Pretty simple really. But if this is the end of global talks, nations may now pursue dual agreements with partner nations, focusing on their own requirements rather than a common goal – so in other words, the countries that need help most have been delivered another kick in the groin.

The aim was to make global trade easier. Much of the trouble has been around countries trying to protect traditional agriculture in their rural communities (by setting prices and subsidising farmers). Its maddening because agriculture only makes up less than 8% of world trade. Disputes about how much access America and Europe should have to the rapidly growing service sector in markets like China and India created another serious sticking point. It is possible: The European Union is the most striking example of a large free trade area. And the collapse of the talks means that countries will just strike smaller deals with their neighbours and friends (as they have traditionally done). That means the poorer you are, the more vulnerable you are; there will be no governing rules to decide what’s a fair deal and developing countries may be forced to take the best offer for their goods, no matter how low that offer is. We’re back to the business brains of the rich acting with a conscience. Fat chance! Pass me my white linen suit and Panama hat – the man from HCTB, he says Yes!

Dutch insurer Aegon is pulling its socks up, announcing plans to sell off under-performing parts of its business across its global business (though not in the UK). Growth will continue to come from growing its business in European and Asian markets rather than the US. The Edinburgh-based firm Aegon UK, will spearhead growth in Europe, including in Spain and France. New boss Alex Wynaendts has announced ambitious plans to boost earnings by 10%. Easy to say…can they deliver…can you help them?!.

Remember the double-decker bus planning a trip for lucky TFL employees to drive from London to Beijing as a stunt for the Olympics? Well sorry to disappoint both of you, but the £1m road-trip has been axed by new mayor Boris. Half the money has already been spent, planning the journey and hiring the 8 drivers for the bus. The question is whether this is a cost-cutting move by Boris (who is trying to limit the number of officials visiting the games with the tax payer’s wallet) or in response to the terrible situation in the Sichuan province, where the earthquake has obliterated all transport links. Boris has also pulled the TFL’s deal with Venezuela to give transport advice to the country in exchange for cheap fuel. Boo!