Business week in review
Sunday 02 December 2012
Being charged with leading the UK's economic rescue mission might not be everyone's idea of a good time, but Canadian central banker Mark Carney says he is looking forward to going "where the challenges are greatest".
Yeah, cheers for suggesting that the challenges aren't greater in, say, Greece, Italy or Spain. Still, no Canadian banks needed bailing out under Carney's watch, through the bulk of the financial crisis.
Despite ruling himself out of the protracted race to be the next Governor of the Bank of England, the Treasury shocked just about everyone when it announced it had got its man on Monday.
Business Secretary Vince Cable declared the £3bn Green Investment Bank officially open on Wednesday, a little immodestly hailing it as "a big advance… a great achievement".
And Marks & Spencer boss Marc Bolland confirmed the chain's yawning pension fund deficit had been slashed.
...at a loss
Sergio Ermotti, the suavely-named Swiss who heads up UBS, must be hoping Monday's £29.7m fine imposed by the Financial Services Authority is the last he hears about the bank's rogue trader scandal.
The watchdog decided the bank deserved the hefty penalty for failing to spot and stop the dodgy trades by Kweku Adoboli, jailed for seven years last month on fraud charges after running up losses of £1.4bn. If UBS had not agreed to settle early with the FSA, the fine would have been £42.4m.
Henry Jackson's OpCapita felt forced to offer an apology on Wednesday to the thousands of Comet employees facing Christmas without jobs after it he announced 125 stores will shut. OpCapita bought Comet for £2 in February, but will be first in line among creditors when Comet's assets are wound down.
Also on Wednesday, BP, led by Bob Dudley, was temporarily barred from new US federal contracts after the Deepwater Horizon disaster.
Emergency call 'started off dumb, but got pretty serious'
Britain First criticised for using actress's memory to draw attention to their 'hate-filled home page'
Thought you'd seen it all after the Jeremy Paxman interview?
Greatest mystery about the hit BBC1 show is how it continues to be made at all, writes Grace Dent
"History is violent," says the US Army tank commander Don "Wardaddy" Collier
Striker's four-month ban for biting an opponent expires on Friday
Argentinian scored 'rabona' wonder goal for Tottenham in Europa League – see it here
- 1 This 'woman calls police to order pizza' story isn't going where you're expecting
- 2 Watch what happened when food critics were unknowingly served McDonald's
- 3 Jimmy Carr's controversial Oscar Pistorius joke goes a bit too far at the Q Awards
- 4 Ottawa shootings: Bruce MacKinnon's cartoon is the perfect tribute to soldier Nathan Cirillo
- 5 Of course, teenage girls need role models – but not like beauty vlogger Zoella
Isis releases first video showing the stoning of woman accused of committing adultery as her father shouts 'don't call me Dad'
This 'woman calls police to order pizza' story isn't going where you're expecting
FCKH8: YouTube reinstates provocative anti-sexism video showing young girls swearing
Diwali: What is the festival of lights – and how is it celebrated around the world?
Jimmy Carr's controversial Oscar Pistorius joke goes a bit too far at the Q Awards
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Residents should throw a street party and mix with immigrant neighbours, councils told
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
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