Other people's business, Tuesday 15 May.

JP Morgan and the politics of baby names.

1. A set-to as old as the Old Testament, (Financial Times)

A five-alarm social media inferno was raging at Diageo, writes Andrew Hill.

2. Who's going to pay to update Britain's infrastructure? (Guardian)

Research from the RAC reckons the annual take from motoring taxation will drop by £13bn by 2029 while traffic will grow by 50 %, writes Dan Milmo.

3. The politics names (Washington Post)

A split between blue and red states when it comes to baby-naming, writes Sarah Kliff.

4. J.P. Morgan's woes cont. Damage control (Schumpeter)

A LARGE, mistaken, trading position take by J.P. Morgan, one of America’s leading banks, already costing it more than $2 billion has become a weapon in major battles in Washington and the financial markets, wrties Schumpeter.

5. Murky U.S. bribery law gets a dose of clarity (Reuters)

America’s murky bribery law is finally getting a dose of clarity, wrties Reynolds Holding.

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John McDonnell's Mao zinger spectacularly backfires

The shadow chancellor quoted from Mao's Little Red Book in his response to George Osborne's autumn statement.

John McDonnell's response to George Osborne's autumn spending review has quoted from a surprising source: Mao's Little Red Book.

The Little Red Book is the name commonly given to Quotations from Chairman Mao Tse-tung, a book that collected together the - you guessed it - quotations of the former Chairman of the Communist Party of China. It was widely distributed after the cultural revolution during the personality cult of Mao, alongside Lenin's The Three Sources and Three Components of Marxism and Engel's Socialism: Utopian and Scientific. 

In response, George Osborne opened the copy of the book and said "it's his [McDonnell's] personal signed copy".

Aside from chapters on labour, women and the army, the book also collects quotations on topics like "Imperialism and All Reactionaries Are Paper Tigers". Mao's legacy as a political theorist is somewhat contested given the approximately 18 to 45 million people who died during China's "Great Leap Forward", a process of rapid industrialisation instigated by the Communist Party in the late 1950s. The death toll from Mao's cultural cleansing program is hotly debated, but sources generally agree over half a million people died as a direct result.

There has been some suggestion that in terms of "not offering obvious spin opportunities to your opponents", the decision to quote Mao may not have been McDonnell's finest.

I'm a mole, innit.