Wood invests in luxury homes
The insurance tycoon Peter Wood is seeking a third fortune, this time in property, after investing tens of millions in buying half of Royalton, a developer of luxury homes it likens to “Faberge eggs”. Mr Wood is worth £550m after founding the insurers Esure and Direct Line.
Modi victory sends index rocketing
India’s benchmark Sensex shares index closed at a record high of 24,122 as it became clear that Narendra Modi had won a clear election victory. International investors hope the pro-business BJP president can push through reforms and revive growth.
Shareholders’ protests over pay
The engineer Kentz and the PR firm Chime became the latest companies to feel the wrath of shareholders over directors’ pay.Kentz suffered the largest shareholder protest this year with more than 60 per cent of votes failing to back or opposing its pay deals.
Virgin Mobile sold for £255m
Sir Richard Branson’s Virgin empire and Carphone Warehouse will collect £110m each after selling their French joint venture, Virgin Mobile. France’s Numericable is paying €325m (£265m) for the company, separate from the UK version run by Virgin Media.