Business week in review
Sunday 19 May 2013
In profit …
Stefano Pessina , the executive chairman of Alliance Boots, hit back over criticism of its UK tax payments, as the retail and wholesale pharmaceutical giant posted an uplift in annual profits.
The Italian said it was "much more than a cash cow – we're like a [cash] whale", adding the Switzerland-based company paid £300m in taxes, including £64m in corporation tax, last year.
Investor money flooded into Severn Trent after the water firm, whose chief executive is Tony Wray, said it had received a £5bn-plus takeover approach. Canada's Borealis, Kuwait Investment Authority and the UK's Universities Superannuation Scheme have teamed up to make the bid.
Shares in easyJet, which is led by Carolyn McCall, also took off the following day after the budget airline significantly reduced its half-year loss to just £61m.
... at a loss
Gerald Corbett, the Betfair chairman, came under pressure from investors gambling on a lucrative payday after the betting exchange walked away from a £988m takeover bid. Shares in Betfair tumbled on Tuesday, as Mr Corbett said the 950p a share bid from the private equity firm CVC and its partners Richard Koch and Antony Ball undervalued Betfair.
The chairman of Royal Bank of Scotland, Sir Philip Hampton, joined him in having an uncomfortable time as he was unable to guarantee at its annual meeting that the bank did not have more "skeletons in the cupboard", such as Libor-fixing. Michael Spencer, the chief executive of the broking giant Icap, was also unsure about the "fragile and unpredictable" trading outlook following a 20 per cent fall in annual profits.
- 1 Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 4 Israel's propaganda machine is finally starting to misfire
- 5 'Hello mum, this is going to be hard for you to read ...'
Sally Farmiloe dead: Howards' Way actress, and former mistress of Jeffrey Archer, dies aged 60
Russell Brand accuses FOX News anchor Sean Hannity of terrorism after aggressive Israel-Gaza debate
Pope Francis issues top 10 tips for happiness – including don’t try to convert other people
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Justin Bieber posts Instagram photo of Orlando Bloom crying after Ibiza fight 'over Miranda Kerr'
The secret report that helps Israel hide facts
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
- < Previous
- Next >
iJobs Money & Business
£20000 - £24000 per annum: Harrington Starr: A leading provider of web based m...
£28000 - £32000 per annum: Ashdown Group: Secretary (Sales Team Support) - Mat...
Competitive (DOE): Guru Careers: We are looking for an Assistant Management Ac...
£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...