Business week in review
Sunday 24 March 2013
Not that Michael O'Leary would care whether we thought he'd had a good or a bad week, but we're going to put the Ryanair boss in the top bit of this column anyway. On Tuesday, the Irish budget airline announced that it will nearly double the size of its fleet with a deal to buy 175 jets from US aircraft manufacturer Boeing.
This gives Ryanair a fleet of more than 400 aircraft, which would mean an additional 100 million extra passengers will end up reaching for their atlases (does anyone still buy these in the age of Google?) to find out where destinations like Szczecin and Targu Mares are in the world.
The Budget proved to be a good day to bury what is surely good news for a handful of bankers. Barclays handed nine top bosses, including the aptly-named Rich Ricci, £40m in shares on Wednesday. Great timing: surely these bonuses will be generally acceptable given that it was the same day that cash-strapped Britons were celebrating the announcement that they can keep an extra £1,335 of their pay.
On Thursday it was revealed that ITV boss Adam Crozier was paid £1.8m in 2012.
...at a loss
Pascal Soriot is unlikely to be too popular after a week that saw him take the axe to AstraZeneca's workforce not once but twice. The pharmaceutical giant's website boasts of its 6,700 staff in eight UK locations, but that will have to be updated.
On Monday, Soriot said he was cutting 700 jobs in Britain as part of a global restructuring that will lead to around 1,600 redundancies. He added that Astra was planning to close its research and development operation at Alderley Park, Cheshire.
Not satisfied with those, later in the week Soriot cut 2,300 sales and administration posts. The drug-maker has cut 11,000 jobs over the past year.
Also on Monday, oil services group Lamprell was slapped with a £2.4m fine by the Financial Services Authority for failing to keep investors informed ahead of a profit warning last year that wiped 57 per cent from its share price. Lamprell chairman John Kennedy said that it was in the company's "best interests" to accept the fine.
On Thursday, Co-operative Group boss Peter Marks unveiled a hefty loss of nearly £600m.
- 1 BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
- 2 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 3 Number of young homeless people in Britain is 'more than three times the official figures'
- 4 Motorists taunt suicidal woman on bridge and tell her to 'get on with it'
- 5 The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
Isis propaganda video shows 25 Syrian soldiers executed by teenage militants in Palmyra
Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
Number of young homeless people in Britain is 'more than three times the official figures'
The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
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