Business week in review
Sunday 14 April 2013
In a week that was truly dominated by the death of Baroness Thatcher, it was a tough time to sell good news. Certainly, she overshadowed one of the men who so adopted the Iron Lady's "can do" attitude.
So, let's give Sir Richard Branson's new domestic airline venture, announced just minutes after the former prime minister's death was confirmed, a plug.
Little Red was created after Virgin Atlantic bought 12 take-off slots at Heathrow last year. BA was forced to cede them after buying bmi. It will fly to Edinburgh, Aberdeen and Manchester.
Auction house Christie's announced plans to open in China to get a slice of the country's $5bn (£3.3bn) art sales. China has imposed restrictions on the market, but chief executive Steven Murphy said the government's permission to allow Christie's to open up in Shanghai was "a major step forward culturally" for the country.
WH Smith's outgoing boss Kate Swann is leaving on a high with its best half-year profit for a decade revealed on Thursday.
...at a loss
The soon-to-be-unknighted Sir James Crosby publicly apologised for the failure of HBOS, one of the most shocking failures of the crisis. On Tuesday, Crosby bowed to the inevitable and agreed he should be stripped of his title having been blasted as "the architect" of the disaster by a committee of MPs.
HBOS was rescued by Lloyds in 2008 – two years after Crosby left the bank, but MPs felt the aggressive expansion policy that brought it down was largely his creation. Crosby said the report made "very chastening reading".
After the announcement, No 10 turned up the pressure on Crosby's successor, Andy Hornby. On Wednesday, a PM's spokesman said Crosby had "done the right thing" and it was "a matter for their consciences" whether others followed suit. This was thought largely to refer to Hornby, who is still eligible for a £240,000 pension from HBOS.
Also on Wednesday, JP Morgan chief Jamie Dimon again apologised for the "London Whale" fiasco that lost the bank $6.2bn (£4bn) last year.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Rob Lowe hits out at White House decision not to meet Israeli leader
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
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