Business week in review
Sunday 01 September 2013
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.
...at 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.
- 1 Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 4 Israel's propaganda machine is finally starting to misfire
- 5 Zayn Malik on Israel-Gaza: One Direction singer bombarded with Twitter death threats after posting #FreePalestine
Sally Farmiloe dead: Howards' Way actress, and former mistress of Jeffrey Archer, dies aged 60
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Disney heiress Abigail disowns her share of family profits in West Bank company
Australian model Robyn Lawley stages naked protest against huge coal mine seven times the size of Sydney Harbour
Drew Barrymore’s sister Jessica found dead in her car surrounded by 'dozens of white pills'
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
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