In Britain, Financial Services Authority director general Hector Santz says people should fear the watchdog. Pity is, though, that Mr Santz is baring his teeth after the event. Another pity is that Britain’s regulators don’t have a reputation for effectiveness.

IT’S not all bad news from Liverpool John Lennon Airport.

That’s the essential message underlying the front-page story on LDP Business today.

The airport is continuing to cope with the downturn, even though Ryanair has withdrawn a plane, though the Irish airline remains Liverpool’s biggest operator.

Ryanair’s future looks secure, with a bank balance heavily in the black.

While JLA’s second biggest operator, Easyjet, hasn’t got quite so much in the bank, there is still more than enough to mean it will still be in business at the other side of the recession.

Since some rivals have not been able to withstand the pressure, and have gone pop, the chances are both JLA’s big airlines will have a stronger market share than in the past.

That should mean JLA will also come out of the recession in a stronger position and experience a rise in passenger numbers in the years ahead.