Business week in review
Sunday 16 June 2013
Well, it turns out you can win the lottery twice. Vue chief executive and founder, Tim Richards, and private equity backer, Doughty Hanson, sold the chain for £935m to Omers Private Equity and Alberta Investment Corporation on Monday.
Richards reportedly made £25m when Doughty bought Vue for £450m three years ago.
Sir Roger Carr was confirmed as the next chairman at submarines-to-missiles manufacturer BAE Systems on Wednesday.
Burberry boss Angela Ahrendts has collected a £6.8m windfall, according to the company's annual report, released on Thursday. However, her salary was halved and the package was down on last year's £15.6m.
...at a loss
Severn Trent chairman Andrew Duff must have thought he had done a good job in rebuffing a £5.3bn bid from a consortium led by Canada's Borealis on Tuesday.
Given the virtually guaranteed long-term revenue from utilities, the board had been keen to argue that the bid undervalued the company. Yet many top investors are said to be frustrated that Duff and his team hadn't communicated with the bidder properly.
Peter Hambro, the chairman at miner Petropavlovsk, saw 18 per cent of investors vote against his re-election on Thursday.
On Friday, Post Office boss Paula Vennells was hit by news that workers are set to strike over branch closures and pay.
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Joan Rivers: 'Palestinians deserve to be dead'
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 5 Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Joan Rivers: 'Palestinians deserve to be dead'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
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