We're just months away from a general election and a possible Conservative victory.

One of those in line for recognition in a new Tory administration is backbencher Michael Fallon.

As deputy chairman of the Treasury Select Committee he can expect to be made a Treasury minister or chairman of the committee in succession to Labour's John McFall.

But Fallon's elevation may prove tricky for his leader David Cameron. The MP also sits on the board of broker Tullett Prebon, the very firm that this week said it would help staff relocate to avoid tax.

Tullett has declared its move was not governed by political considerations -presumably in an attempt to stop Labour saying it was put up to the idea by Fallon.

But whatever the motivation the reality is that Tullett has a director who is a senior Tory. What does Cameron make of that?

• FALLON is a member of Tullett's audit and nominations committees. Until recently, however, he also chaired the company's remuneration committee. That position has been quietly relinquished. Which is just as well - it would be very awkward indeed, having a Tory MP chairing the very body that agrees pay and bonus packages at a firm that then does its best to assist the recipients in leaving to reduce their tax bills...

• A NOTE from Capital Economics: "The downward trend in pay growth has recently eased." A note to Capital Economics: There's an easier way to say that.

• BEFORE Borders collapsed into administration, a staff member at the books chain Tweeted a message to customers suggesting they "take a red head to bed". Now the Tweeter has explained he'd been talking about the store's Christmas teddy bear. "We're losing our jobs not our morals." But he will not be Tweeting special offers any longer: "We don't bother with pushing bears anymore," notes the sad employee.

Vedanta faces another storm

Could the share price of mining company Vedanta be about to take a hammering? This time last year, Vedanta's shares hit their lowest point in three years after villagers in eastern India protested about the firm building a mine among their homes. Now a local tribe, Dongria Kondh, is attempting to drive out the company, with the backing of the charity Survival International.

City Spy has seen a letter sent by Vedanta's head of corporate communications, Mukesh Kumar, to the media in India. He blames foreigners for stirring up the unrest and accuses Survival International of "provoking innocent tribals to defame the government and the company".

For their part, staff at the charity's London office say Vedanta is engaging in "scare tactics" - they allege for instance that police made a late-night, threatening visit to a hotel where they believed Survival researchers were staying. But, as feelings run high, how will the row affect Vedanta's bid to make India one of the world's largest aluminium producers?

Tiger gal is a Bloomberg ex

AT last. City Spy can justify printing a picture of a bikini-clad Tiger Woods mistress. Rachel Uchitel, perhaps the most fragrant of Tiger's putting pals, was, it emerges, a producer for the financial channel Bloomberg TV before entering the... nightlife industry. Dealbreaker's Bess Levin suggests that as Bloomberg is fighting CNBC to see which presenter displays the most cleavage could Rachel soon be fronting the business news at her former employer?

• THE Government has ruled that there cannot be a nativity scene in the Palace of Westminster this Christmas. This isn't for any religious reason. They simply have not been able to find Three Wise Men in Parliament. A search for a virgin continues. There was no problem finding asses.

Dimon shows up bank rivals

SO Lloyd Blankfein (Goldman), John Mack (Morgan Stanley) and Richard Parsons (Citi) didn't manage to make it to this week's Washington summit with President Obama. Despite. All. Those. Billions. Of. Dollars. Of. Taxpayers'. Money. They blamed the fog at the airport and decided to make do with the speakerphone. Hmmm... So how come JPMorgan's Jamie Dimon managed to make it without any problems?

• PERHAPS Jamie just tries harder. Recently, he let it known that he's so committed to leading his firm to the sunlit uplands that he hasn't had time to practise his guitar in a whole year. Dimon likes to think of himself as something of an axeman, basing his fretmanship on "The Boss" Bruce Springsteen.

• ALSO sharing Dimon's love of the guitar is JP Morgan's $5 million a year adviser, Tony Blair. Was it this that first attracted him to Dimon? Do they stay up until the wee small hours, dueting on Dancing in the Dark?

• BY the way, does part of Tony Blair's JPMorgan dosh reach him in the form of a bonus? If so, will the bank wear Darling's 50% tax or pass it on to him? Doubtless Cherie has got the contract out and studied the small print.

• LDC, venture capital arm of beleaguered Lloyds Banking Group, has confirmed it is following the likes of Morgan Grenfell, Deutsche Bank, Apax, LV Capital and others to "invest" in the new Manor Formula 1 team. Presumably, LDC checked with those organisations as to what return it could expect on its "investment" (answer, from their experience, not much, or even a stonking loss). At least their deals were with F1 top liners, unlike LDC's which is with the little-known Manor Motorsport...