A WEEK IN BUSINESS
Sunday 08 October 1995
Shares in Alan Sugar's Amstrad computer company rose 4 per cent to 278p after he announced a return to the black with a 1994-5 profit of pounds 3.1m, compared to a loss of nearly pounds 20m a year earlier. The company, he said, is now on the acquisitions trail.
Eurotunnel, the Channel tunnel operator, announced that another pounds 465m had disappeared into its black hole. Yet the company continued to reject a debt-for-equity swap and its shares defied gravity by rising 0.5p to 92.5p.
Greasy pole (up)
Gerry Robinson has risen to become chairman of Granada. Charles Allen, the head of Granada Television, steps into his chief executive's shoes. The promotions follow the retirement of Alex Bernstein, whose family founded the group 70 years ago.
Greasy pole (down)
An arbitrage trader at Tokai Bank's London branch is reported to have taken a pounds 12m pay cut in line with a fall in the bank's profits. Kaveh Alamouti still made pounds 2.36m last year, it is believed.
Details of the Procter & Gamble suit against Bankers Trust were revealed, alleging that the New York based bank discussed a "rip off factor" while dealing with nine corporate customers, including the consumer products group.
Scottish Power won its pounds 1.1bn hostile takeover battle for Manweb after winning the support of 60 per cent of shareholders. It is the third and largest successful bid in the sector.
Carlsberg-Tetley is cutting 500 jobs at breweries in Warrington, which will close altogether, and Burton. Operations will be moved to Leeds.
Talking supermarket displays arrived in Britain to extoll the virtues of cat food. Somerfield stores are using battery-powered computer chips hooked up to hidden speakers to tell shoppers to "indulge your loved one with a can of new Spillers Purrfect".
The Manufacturing Science and Finance Union accused the Government of suppressing a report on workplace stress because it quotes research suggesting that working more than 48 hours a week can double the chance of a heart attack.
The rescue plan for Lloyd's of London was placed in jeopardy by auditors who fear angry names will "gun" for them if they cannot get compensation from members of the insurance market. Lloyds vowed to go ahead.
Alliance Resources, the Irish oil exploration company suspended from the London Stock Exchange last month, is suing its former chief executive, John O'Brien, claiming that he used a forged letter to misrepresent the group's interests in a Louisiana oil field.
In the dock
The Serious Fraud Office is trying to track down the owners of Admatec Corporation, registered in the British Virgin Islands, after its collapsed Moneywise Money Plan was exposed as a pounds 1.3m pyramid scheme with up to 3,000 UK victims.
Place your bets
Odds on Norman Lamont, the former Chancellor of the Exchequer, winning a seat in parliament at the next general election? Ladbrokes is quoting 3/1.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 Syrian refugee child beaten by Istanbul Burger King manager for eating customer’s leftover food
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Rob Lowe hits out at White House decision not to meet Israeli leader
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
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