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.
International Women's Day 2014: The shocking statistics that show why it is still so important
Singapore sting: Sky-high prices are pushing locals to the edge of affordability
International Women’s Day: 'When a man gives his opinion, he's a man. When a woman gives her opinion, she's a bitch' - feminist quotes from female icons to inspire you
Exclusive: New evidence links the murders of Stephen Lawrence and a private investigator
Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
White people become less racist just by moving to more diverse areas, study finds
Exclusive: Impact of immigrants on British workers ‘negligible’
- 1 International Women's Day 2014: The shocking statistics that show why it is still so important
- 2 Orgasm machine to deliver climax at the push of a button
- 3 Singapore sting: Sky-high prices are pushing locals to the edge of affordability
- 4 Liam Neeson turned down James Bond role because late wife Natasha Richardson said she wouldn't marry him if he took it
- 5 Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
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