Business week in review
Sunday 29 September 2013
In profit ...
"Canada's Warren Buffett", Prem Watsa, could soon find a friend in Barack Obama as the investment guru signed a letter of intent to rescue the president's favourite device, the BlackBerry.
Having announced 4,500 job cuts the previous week, BlackBerry seemed in big trouble but Watsa's Fairfax Financial Holdings emerged with a $4.7bn (£2.9bn) offer to take it private on Monday.
Airbus chief operating officer John Leahy said on Tuesday worldwide aircraft would double by 2032, which amounts to orders worth about $4.4 trillion.
On Wednesday it emerged that former BHP Billiton boss Marius Kloppers received nearly $16m in his last year in charge.
... at a loss
British Gas owner Centrica laid into the Government on Monday, blaming the Coalition for a £240m writedown on its decision to shelve gas storage plans in East Yorkshire and the North Sea. Centrica said the Government's decision not to subsidise the market and weak economics meant that chief executive Sam Laidlaw had to abandon the projects.
ICAP became the fourth institution to be fined in the Libor interest rate-rigging scandal on Wednesday, as regulators on both side of the Atlantic rounded on the interdealer broker. The City giant received more than £50m in fines, leaving boss Michael Spencer grim-faced.
Also on Wednesday, Doug Oakervee quit as chairman of HS2.
- 1 The difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
- 4 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 5 iPhone 5c to be discontinued, no iPhone 6c to replace it
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
Labour leadership: Jeremy Corbyn voters most likely to believe 'world is controlled by a secretive elite'
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