Business week in review
Sunday 04 August 2013
Mark Zuckerberg, the co-founder and chief executive of Facebook, had more friends this week after the social network's shares powered past last year's flotation price of $38 (£25) for the first time. Its stock price tanked after its troubled float on Nasdaq in May 2012, but a boom in mobile advertising drove its quarterly revenue up by 53 per cent to $1.8bn.
Shares in Next, the UK fashion chain, hit a record high on Tuesday, following a robust first quarter of trading. Its chief executive Lord Wolfson said shoppers were becoming "more spontaneous" in their spending habits, but downplayed the prospects of a full-scale economic recovery for the foreseeable future.
...at a loss
Barclays' chief executive Antony Jenkins had a week to forget, as the bank unveiled a £5.8bn rights issue to shore up its balance sheet. It was forced into the bigger-than-expected cash call to satisfy the Prudential Regulation Authority, which has identified £12.8bn a capital shortfall at the banking giant. Barclays is also steeling itself for further developments into its 2008 fundraising from Qatar before Mr Jenkins' time.
Another company facing fresh controversy is Apple, whose chief executive is Tim Cook, over working conditions at its Chinese suppliers' factories. US-based China Labor Watch alleges Apple's suppliers have used child labour, forced overtime and illegal 66-hour working weeks.
- 1 Fifty Shades of Grey trailer released: First look at Jamie Dornan as Christian Grey
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 50 books for students to read this summer: From Ernest Hemingway to Gillian Flynn
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Rebecca Hall on her film career so far: ‘I’ve played too many repressed neurotics’
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
Peaches Geldof: Her final day – and her fatal decision
Students offered grants if they tweet pro-Israeli propaganda
Iraq crisis: Isis orders Mosul shop keepers to cover mannequins
Israel-Gaza conflict: Israel may have committed war crimes, says UN human rights chief
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
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