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.
Culinary experts in The Netherlands thought it was 'fresh' and 'tasty'
Of all the computers Apple has ever made there’s only one that Steve Jobs had to sell his car to finance
- 1 As an ex prostitute, I urge all the political parties to commit to the Sex Buyer Law
- 2 Nokia no more: Microsoft drops once-ubiquitous mobile name – in favour of its Lumia brand
- 3 Renee Zellweger on plastic surgery: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
- 4 Australian café owner sparks debate after saying 'No' to having unruly children on premises
- 5 Couple die within 28 hours of each other after being married for 73 years
Renee Zellweger on plastic surgery: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
Isis releases first video showing the stoning of woman accused of committing adultery as her father shouts 'don't call me Dad'
Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
Diwali: What is the festival of lights and how is it celebrated around the world?
Nelson Bunker Hunt dead: Former world’s richest man dies in 'modest circumstances' in US after losing his fortune
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
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