Business week in review
Sunday 25 August 2013
Bovis Homes chief executive David Ritchie was a happy bunny on Monday, announcing the group’s highest sales since floating on the London Stock Exchange 16 years ago. Bovis hit 90 per cent of its annual sales target by the 32nd week of the year, as the housing market started benefiting from recovery.
Antonio Horta-Osorio continued his impressive Lloyds rein on Wednesday by selling off a German life insurance business and a portfolio of UK commercial loans for £500m. Earlier this month, Lloyds swung back into profit.
Also on Wednesday, Sir Charles Allen, the former ITV boss, was named chief executive at Danish cleaning giant ISS ahead of an expected stock market listing.
...at a loss
Billionaire South African Ivan Glasenberg had some explaining to do on Tuesday, after his newly-forged Glencore Xstrata mining empire took a $7.7bn (£4.9bn) hit as a result of the megamerger. Glencore bought Xstrata in May after a public negotiation process that took longer than a year, but Glasenberg’s team has since revalued Xstrata’s assets, forcing the writedown.
Heineken boss Jean Francois von Boxmeer was in need of a bevvie or four on Wednesday when the brewer said the amount of beer it sold in the first half of 2013 in the UK and Western Europe was down 6 per cent on the same period last year.
On Thursday, Hugh Osmond stepped down as a non-executive director at Phoenix Group.
- 1 Unseen Charlie and the Chocolate Factory chapter deemed 'too subversive' released
- 2 Ebola virus: It's ripped through towns – now the deadliest ever outbreak of the virus is heading for Africa's teeming cities
- 3 Joan Rivers: 'Palestinians deserve to be dead'
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
Israel-Gaza crisis: YouTube footage shows scale of destruction after 50 days of shelling
iPhone 6 'hidden code' could indicate sharper screens or bigger phones
Keira Knightley topless: Conservative actress does own take on #Freethenipple campaign for Interview Magazine
Joan Rivers: 'Palestinians deserve to be dead'
Ebola virus: It's ripped through towns – now the deadliest ever outbreak of the virus is heading for Africa's teeming cities
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
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