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.
Apple agrees deal with Visa on contactless payments
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 2 Perez Hilton apologises for Jennifer Lawrence naked photo leak
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Mexican woman becomes world’s 'oldest person' at 127
- 5 Jennifer Lawrence 'naked sex video' will be leaked threatens 4Chan celebrity photo hacker
iPhone 6 'hidden code' could indicate sharper screens or bigger phones
Perez Hilton apologises for Jennifer Lawrence naked photo leak
Ariana Grande nude photos leak: 'These are completely fake' say singer's representatives
A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Kate Upton nude pictures leak: Model's representatives 'looking into' authenticity of naked images
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
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