Business week in review
Sunday 06 January 2013
Always dangerous driving after a heavy New Year's Eve, but, unlike many, Avis boss Ronald Nelson started 2013 with a smile. On Wednesday, Avis announced it had snapped up car club Zipcar for $500m (£300m), adding a fleet of 10,000 vehicles and 760,000 members to the motor rental giant.
However, this might be a sign of how gloomy the next 12 months could be: car clubs have boomed at least in part thanks to the soaring cost of petrol.
Also on Wednesday, Queens Park Rangers co-owner Lakshmi Mittal celebrated a $1.1bn windfall. A consortium, led by South Korean steelmaker Posco and China Steel Corporation, agreed to take a 15 per cent stake in ArcelorMittal's Labrador Trough mine in Canada.
Lord Sassoon, once tipped as a Bank of England governor, was confirmed as executive director of Asia-focused conglomerate Jardine Matheson on Thursday.
...at a loss
Sir Martin Sorrell had a turbulent 2012, vehemently defending his huge pay packet during the shareholder spring. Fortunately for headline writers, WPP's advertising guru has not resolved to keep his views to himself in 2013 and got off to a marvellous start by defending Starbucks' and Google's UK tax arrangements.
On Wednesday, he said multinationals' tax contributions were a "matter of judgement" after the outcry over the amount they have paid in recent years.
Compost-maker William Sinclair was deep in its own product on Thursday, as boss Bernard Burns admitted last year's weather had kept gardeners inside. In the 12 months to September, the group lost £403,000.
The same day, Nat Rothschild escalated his long-running row with miner Bumi by claiming a key subsidiary lacked credibility.
Oscar Pistorius trial: Defence's own witness contradicts athlete's version of events
Oscar Pistorius trial: The case against Oscar Pistorius – and why the prosecution claims his story doesn't add up
Man ruins 38 million gallons of drinking water by urinating in Portland reservoir
Peaches Geldof dead: Private funeral for the family and friends of the socialite will take place next week
Shropshire criminals ‘using unmanned drones and infrared cameras to find illegal cannabis farms’ – and then steal from the growers
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Are you turning into your dad? The top ten signs you've embraced dad-ism revealed as survey says 38 is age men turn into their father
- 2 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 3 Overheard in Waitrose: documenting the chatter in 'Britain's poshest supermarket'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Grace Dent on TV: Game of Thrones has jumped the shark
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