In raising the dividend so soon after the tragedy and protesting so vigorously, Jarvis is being at best grossly insensitive. It may also be profoundly damaging its longer-term prospects.Estate agents studyAccording to surveys, estate agents are among the most loathed people in the land, so the Office of Fair Trading must think it is striking a popular note in ordering one of its new fangled “studies” of the market. These are not full competition act investigations, but more in the nature of a trawling exercise to establish whether there is anything untoward going on which might merit further action. John Vickers, director-general of Fair Trading, can allow himself the luxury of such fishing expeditions because the Government has just given him a barrow load of extra money to seek out business abuse wherever it may be.As far as estate agents are concerned, the issues are well known. There is very little, if any, price competition between estate agents, the number and value of transactions has risen dramatically over the past 10 years yet there has been no corresponding reduction in charges, and abuse, real and suspected, remains rife.

The OFT is hoping to come up with suggestions that make the market more transparent, and as such the “study” seems a relatively harmless exercise. None the less it is not entirely clear what the OFT thinks it will achieve. Shop around in obtaining a valuation for your home and don’t accept the first one that comes along? That’s a matter of common sense, isn’t it?As for abuse, most of the obvious stuff is already illegal. Estate agents can and are struck off for engaging in practices such as backhanders for finding purchasers favourable deals. You don’t have to sell your house through an estate agent, and if the 1.5 to 2 per cent commission estate agents commonly charge seems like a rip-off for the amount of work they do, just compare that to the 4 per cent money down the drain you’ll be paying in stamp duty on any purchase above £500,000.Are estate agents encouraging the boom in house prices? Yes, of course, but it is the function of a salesman to get the highest price the market will stand, and as things are, the sky seems the only limit. It would be churlish to dismiss the OFT’s initiative as entirely worthless but, loathed though estate agents are, it is not a totally dishonourable profession.

There are far too many Government-sponsored investigations of business already. Do we really need another?Murdoch’s no to euroSo that’s it then No euro referendum next year after all. Rupert Murdoch has said unequivocally that all his newspaper titles will campaign against the euro in the event of a referendum. If nothing else, this must be a bit of a blow to the new editor at The Times, who seemed to be subtly shifting the paper’s position to a less eurosceptic one. In recent interviews, he has said he is completely open minded on the euro and would judge the case for joining on its merits when the time came Not now he won’t The boss has spoken.