Business week in review

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The Independent Online

In profit...

Foxtons chief executive Michael Brown enjoyed a gloriously sunny Bank Holiday weekend as he prepared to announce the aggressive estate agent's flotation on Tuesday. Management could see their 20 per cent stake valued at up to £100m, as Foxtons is expected to sell shares for a full price following the biggest rise in house prices in July since 2006.

On Wednesday, Chime Communications boss Chris Satterthwaite said the 2014 World Cup in Brazil could be worth $1.5bn (£967m) in sponsorship. Around 50 per cent of the marketing group's profit comes from sport in big event years.

Andrew Page, the head of Frankie & Benny's owner The Restaurant Group, hailed a "corker" of a year so far on Friday. a loss

Michael O'Leary is always good for a rant when things don't go his way and Wednesday proved to be no different as he attacked the "bizarre and manifestly unsound ruling" from the Competition Commission to sell down Ryanair's almost 30 per cent stake in Aer Lingus to just 5 per cent. Mr O'Leary added that the inquiry was "yet another enormous waste of taxpayer resources".

Also on Wednesday, publisher Johnston Press admitted "material uncertainty" over its future. Chief executive Ashley Highfield, though, insisted only "a worst-case tsunami" would threaten the group.

Zurich Insurance chairman Josef Ackermann resigned on Thursday, days after the suicide of the com-pany's finance director.