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.
- 2 Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
- 5 Amal Clooney gives excellent answer to fashion question at European Court of Human Rights
King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Amal Clooney gives excellent answer to fashion question at European Court of Human Rights
Mafia's wall of silence broken: Victim of Cosa Nostra's extortion rackets in its Corleone heartland co-operates with authorities for the first time ever
'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
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...