Business week in review
Sunday 15 September 2013
PricewaterhouseCoopers chairman Ian Powell was certainly in the money on Monday, after revealing that he was paid £3.6m for the year to June. That's up £300,000 – or one week of Gareth Bale's time – on last year. More broadly, more than 870 partners took home an average of £705,000 each, up 4 per cent on 2012.
On Tuesday, South African mining and commodities trading magnate Ivan Glasenberg pleased investors when he revealed that the cost savings from the $42bn (£29bn) deal that created Glencore Xstrata would be $2bn.
Royal Mail boss Moya Greene fired the starting gun on the flotation of the 250-year-old postal business, though unions are set to vote over a possible strike.
...at a loss
For balance, we lead the down-at-heel side of this column with Big Four accountant, Deloitte. UK senior partner and chief executive David Sproul saw his bean-counting empire fined a record £4m by the Financial Reporting Council for failing to manage conflicts of interest over their advice to collapsed car manufacturer MG Rover.
Rover collapsed into administration in 2005, for the loss of 6,000 jobs with debts totalling £1.4bn.
On Wednesday, Barclays chief executive Antony Jenkins warned of "a property-driven boom", arguing the market was "more buoyant" than at any time over the past 10 years.
WM Morrison boss Dalton Philips said on Thursday a third of the supermarket's customers are "one pay cheque away from bankruptcy".
- 1 Scottish referendum: So how about the English now being given a chance to split from England?
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 London council removes 'unacceptable' Stamford Hill posters telling women which side of the road to walk down
- 4 The response to my Pizza Express review has been overwhelming, and taught me a lot about journalism
- 5 Free U2 album: How the most generous giveaway in music history turned into a PR disaster
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Archbishop of Canterbury admits doubts about existence of God
Portuguese academic says British are 'filthy, violent and drunk'
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