Business week in review

 

Click to follow
The Independent Online

In profit ...

BP boss Bob Dudley was surely cracking open the vodka on Monday, when BP agreed to sell its half of the TNK-BP joint venture to Rosneft for $27bn (£16.8bn) in cash and shares.

On the same day, search engine Yahoo! unveiled adjusted earnings per share for the third quarter of 35 cents, up on the forecast 25 cents. Not a bad first impression for new chief exec Marissa Mayer.

And Wednesday saw British American Tobacco chief Nicandro Durante puff up 4 per cent revenue growth.

... at a loss

On Monday black-cab maker Manganese Bronze crashed into administration as a steering defect sparked a cash crisis. Boss John Russell says London's 'Icon' cabs will be saved.

Wednesday saw ex-Société Générale rogue trader Jéröme Kerviel fail in his appeal against a three-year jail term. He was ordered to repay the near €5bn (£4bn) he lost the bank; it will take him 300,000 years ...

And it was a bad Thursday for WPP head Sir Martin Sorrell as shares fell on news his ad giant had cut revenue-growth forecasts for the second time since August.

Comments