Lord Browne, the diminutive business giant, delivered a masterful speech on "Energy and Change" at last week's useful Corporate Wisdom lecture series.

At the end of his polished sermon, the urbane executive took questions from the floor. Most concerned weighty issues such as the impact of biofuel on food supplies, the future of redundant coalfields and the rising cost of electricity, but one sought out a slightly different opinion.

Victor Watson, formerly chairman of Waddington plc, asked how
the Russian owners of English football clubs, like Chelsea, made all their money.

Over to Lord John Browne of Madingley: "It was at the time of a series of financial crises in Russia. They took advantage of a state that was out of control. They ended up with assets that were very good assets. Then the state intervened. They put in types of enforcement and certain rules to keep some oligarchs on the straight and narrow and keep others in different shapes and sizes."

Change of address

So another corporate name has been sliced up and dispatched into history.

It's goodbye Pizza Hut, hello Pasta Hut. The change, according to bosses at Pizza Hut, reflects the changing nutritional environment and the company's decision to launch a range of 12 Tuscani pastas.

Chief executive Alasdair Murdoch said: "We have made significant changes to every aspect of the business over the past few years and we wanted to create a moment in time for people to sit back and take notice."

But there's one obvious question, which brings back memories of the story of the three little pigs. Surely a hut made from pasta will be less robust than one made from deep-pan pizza slices?

Had this change been introduced earlier it would have caused a major headache for comedian Mel Brooks. The evil genius at the heart of his science-fiction spoof, Spaceballs, rejoiced in the name of Pizza the Hut. Now there was a character who would never have embraced a low-calorie lifestyle.

Success on a plate

Pizza Hut is not the only eaterie trying to reflect changing tastes. In these difficult times, bankers have had to abandon their traditional team-building sessions, such as sailing or mountaineering. The spiralling economy requires something less showy, so executives have turned to pasta masterclasses. Casa Mia, a restaurant chain in Leeds, has begun offering the sessions with its amiable boss, Francesco Mazzella. The Yorkshire Post went along, so now, as well as bringing you the best business news, we can also make fresh spaghetti in less than an hour.

The good, old days

Saturday's gloriously extravagant party to celebrate the opening of Clarence Dock, in Leeds, with Gok Wan brought back fond memories of the property market boom and the seemingly endless launch parties. It's rumoured that one property firm used to hire "exotic dancers" to serve drinks and canapés at its special events. Oh, the good old days.

Saving face

So, Lloyds TSB's takeover of Halifax Bank of Scotland is to go ahead – as long as shareholders
give it the thumbs-up at the AGM in early December.

The two sides have been so busy trying to keep their heads above water that we learn they are still no clearer on deciding a name.

It's a difficult decision. When Halifax merged with Bank of Scotland seven years ago, the militant Scots were adamant that they should come first. That is until some bright spark in Halifax pointed out the new company would be called BOSH. Thus HBOS was born.

But what to call an amalgamation of Lloyds, TSB, Halifax and Bank
of Scotland? The joke doing the rounds is that SLOBS Plc would
be a fitting name although where the first S comes from is anyone's guess.

However, those in the know are predicting that after all this turmoil they will stick with the simple solution – Lloyds Plc.

Shirts and ties

It's got a new name in the City – football shirt syndrome.

It seems that the fortunes of shirt sponsors are painfully entwined with their respective clubs' fates.

Nationalised Northern Rock, which sponsors Newcastle United, was
as badly managed as the club is now.

West Ham United recently had the kit man stitching patches over
the logo of XL, the collapsed airline, and now find themselves facing a £30m pay-out to Sheffield United.

And with Bradford & Bingley now cradled in Government hands, it followed that Yorkshire Cricket Club ended the season near the bottom of the County Championship.

Kcom can thank high-flying Premier League new boys Hull City for Karoo's sudden exposure. Most people outside East Yorkshire wouldn't have heard of the telecoms group's domestic internet service before their promotion. Let's hope Kcom's £3m hit from the collapse of Lehman Brothers isn't a sign of worse to come.

Early reminder

Congratulations to the Leeds office of Newton Investment, the fund manager headed by Rebecca Scott, for sending the business desk not the first Christmas card of 2008, but the first diary of 2009. It pays to get ahead.

If you have a story for the Business Diary, email bernard.ginns@ypn.co.uk