Business week in review
Sunday 23 September 2012
Back in the days when the Duchess of Cambridge was better known for wearing clothes, one of her favourite designers was Jenny Packham. In the heady days of May, *ée Middleton wore a teal number at a gala marking the countdown to the London 2012 Olympics.
Certainly, Debenhams was pleased, as Packham is one of the chain's key designers and sales soared through the roof, as demonstrated by an impressive trading update on Tuesday. Chief executive Michael Sharp said sales in the past 10 weeks were up by 3.8 per cent on last summer.
On Wednesday, it emerged that Bob Diamond's BP is in talks to sell its Texas City oil refinery to Marathon Petroleum Corp.
Also on Wednesday, Peter George announced the flotation of his pharmaceuticals group, Clinigen.
...at a loss
Rows! Oil! The Yellow Pages! What a week of high drama. On Monday, Harpic toilet cleaner-to-Durex condoms giant Reckitt Benckiser announced that finance director Liz Doherty was leaving. None of that "for personal reasons" flim-flam for boss Rakesh Kapoor, who admitted that "Reckitt's and her way of working are not as well matched as either of us would like".
Also on Monday, Shell chief executive Peter Voser announced that the oil empire will have to suspend its £2.5bn Arctic exploration programme for a year. On Wednesday, Mike Pocock, the boss of the absurdly named directories group hibu issued a profit warning.
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
- 5 Phil Neville backtracks on Tomas Rosicky 'I'd smash him' comments from Match of the Day 2
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Pornhub star Mia Khalifa receives death threats after being ranked the site's top adult actress
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
'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
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
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