Business week in review
Sunday 29 April 2012
In profit ...
Vittorio Colao, the chief executive of Vodafone, was bullish about its proposed £1bn bid for Cable & Wireless Worldwide on Monday, but the telecoms firm's biggest shareholder threw a potential spanner in the works.
Mr Colao said: "We will move from No 4 position to No 2," explaining how the 38p-a-share offer would see it jump to being second only to BT in the UK. While CWW's board unanimously backed the offer, Orbis, which owns 19 per cent of the company, said it did not "reflect the value inherent in CWW".
Soaring value is a familiar tune at Apple. On Tuesday, chief executive Tim Cook revealed it had sold 35 million iPhones in the first quarter, blowing forecasts out of the water. Aided by sizzling sales of iPads and a return to form of Mac laptops, Apple delivered a 93 per cent rise in profit to $11.6bn (£7.1bn) in the quarter.
George Weston, boss of Associated British Foods, the sugar-to-retail group, forecast on Thursday an acceleration in Primark's profits over the next six months, after a 3 per cent rise in group profits in its first half.
...at a loss
Hornby, the model trains and Scalextric group, had a bumpy start to the week after issuing its second profit warning of the year, blaming the UK's "weak retail environment". But there was a return to profitability in its international business and chairman Neil Johnson struck an upbeat note on its Olympic-themed products, saying "Our London 2012 Games range of merchandise is proving to be increasingly popular."
For different reasons, Capita's chief executive Paul Pindar, had an unwelcome day in the spotlight on Tuesday, when he sold shares worth £2.7m in the services company. It is understood much of the proceeds will finance an eye-watering divorce settlement. Mr Pindar – who once reassured employees he was not a fat cat, as he only earned £14,500 a week – still owns stock worth £9m.
Another week, another subdued chief executive, this time Ana Botin of Santander UK. The bank's profits tumbled by 40 per cent in its first quarter after it suffered from higher regulatory and funding costs.
That's some guestlist! Stunning images show huge dynastic wedding between Ultra-Orthodox Jewish families which attracted 25,000 guests
Friends and colleagues pay tribute to soldier killed in Woolwich machete attack Drummer Lee Rigby
'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
Video: Woolwich attack - man with bloodied hands and knife addresses camera
Ingrid Loyau-Kennett, the mother-of-two hailed as a hero for confronting Woolwich attackers, thought: 'better me than a child'
- 1 Friends and colleagues pay tribute to soldier killed in Woolwich machete attack Drummer Lee Rigby
- 2 'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
- 3 Grace Dent: I’m not sure how these people can avoid being called ‘bigots’. And the more ‘civilised’, the worse they are
- 4 Woolwich murder: They killed, then they performed - these men should be starved of our attention
- 5 Woolwich attack: The EDL will seek to exploit this evil crime for their own evil ends
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Get the latest on The Evening Standard's campaign to get London's children reading.
Win anything from gadgets to five-star holidays on our competitions and offers page.