The US Coffee chain Starbucks has apologised to "Lord" Mandelson for remarking about the dismal state of the UK economy.
Howard Schultz, the company's chariman, suggested that the economy was heading for a "downward spiral".
He released the following statement:
"It was clearly insensitive of me to suggest that the country faces the slightest possibility of any kind of downturn.
"My comments are clearly at odds with the facts. Britain is well-positioned to continue a solid period of steady, controlled growth with minimal inflation and gradually increasing employment.
"Attacking the government was foolish, especially at a time when our company will soon be grovelling for billions of pounds of taxpayers' money to bail ourselves out of the consumerist train-wreck that we have made of the coffee industry.
"I would like to reassure "Lord" Mandelson that my ritual cock-sucking and sycophancy will continue as long as he promises to keep turning a blind eye to the protracted demolition of independent coffee-shop culture over which I have gleefully presided."
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