Business week in review
Sunday 08 September 2013
Lord Ashcroft was feeling a little merry after his embryonic vineyard business, Shellproof, took over Kent and Sussex winery Gusbourne Estate for £7m on Tuesday.
The Tory peer aims to be producing 500,000 bottles of still and sparkling wine within 11 years, as Gusbourne is set to boom in one of the few times in British history ideal for viticulture.
Sticking with boozy Tuesday, Greene King chief executive Rooney Anand said sales rose 4.6 per cent in the first 18 weeks of the year, thanking Britain's sporting success and royal baby celebrations.
Former Royal Dutch Shell executive Mark Carne was named as Network Rail's new boss on Thursday.
...at a loss
In a blow to Finnish national pride, Nokia sold its struggling handset division for $5.44bn (£3.48bn) on Tuesday. Former Microsoft chief executive Stephen Elop will continue to run the division, which had nearly 40 per cent of the worldwide market as recently as 2008 – but that figure has slumped to 14 per cent, according to research firm Gartner.
Ryanair boss Michael O'Leary used uncharacteristically sombre language in announcing a profit warning on Wednesday. He blamed the July heatwave and weaker exchange rates for a fall in bookings.
Dixons chief executive Sebastian James agreed to invest €69m (£58.1m) in Pixmania to secure a buyer for the loss-making French online business.
- 1 Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
- 2 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 3 People who sleep more than eight hours are more likely to have a stroke, research shows
- 4 Kanye West climbs on table at Nando's to crowd chants of 'Yeezus' before Brit Awards 2015 performance of 'All Day'
- 5 New theory could prove how life began and disprove God
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
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