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 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Germany sees 'visible rise' in support for far-right extremism in response to perceived 'Islamisation' of the West
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