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 Planes go hybrid-electric in important step to greener flight
- 4 Hip hop is both racial and political, and for Iggy Azalea to suggest otherwise is insulting
- 5 Man hospitalised with pneumonia after downing eggnog at office Christmas party
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Orphan kangaroos spend Christmas without their parents
Northern Lights above Britain: Stunning Aurora Borealis illuminates Northumberland sky on Christmas Eve
New route to Mars could make manned mission much cheaper and easier
Isis 'did not shoot down Jordan war plane' before capturing pilot, says US
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
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