Ex-Olympus boss to receive £10m
The British former chief executive of Olympus, Michael Woodford, will receive £10m in a settlement over his dismissal for whistle-blowing at the giant Japanese cameras and medical equipment maker. Olympus disclosed the figure yesterday, following approval from its board of directors, after the settlement reached last week.
Public expects inflation to rise
The Bank of England's dilemma over whether to stimulate the recession-hit UK economy has been sharpened further by a survey showing that the public expects inflation to hit 3.6 per cent in five years' time. Official figures, meanwhile, showed a fall in factory gate prices yesterday, which should feed through to lower consumer prices, as oil prices dropped.
Ahrendts pockets £15.6m at Burberry
The Burberry, chief executive Angela Ahrendts pocketed £15.6m last year after she cashed in share awards and picked up a hefty bonus, following huge growth at the luxury fashion brand. Her pay totalled £3.69m, with £990,000 in salary and a bonus of £1.98m. She also sold £11.9m of shares, most of which were granted for free under incentive plans.
Olympics boost for toy-maker Hornby
After two profit warnings this year, the Airfix-to-Scalextric maker Hornby said yesterday that sales of its toys and badges for the Olympics were taking off. Analysts reckon Hornby could sell £7m of Olympics products ranging from Corgi models of London taxis and buses to pin badges of the mascots. Annual profits rose from £4.4m to £4.5m on sales of £64m.