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 Moscow voted the world's unfriendliest city
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 4 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Senior British politicians tell David Cameron: When dead children are being washed up on beaches, it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
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