Business week in review

 

In profit...

Laura Carstensen finally brought her two-year Competition Commission probe into the dominance of the Big Four accountants to an end on Tuesday. Critics said she had “caved in” by rowing back on some hard-hitting reforms of the audit market. However, in what is seen as a victory for smaller auditors, she has pushed through big changes like forcing companies to put the audit role out to tender every 10 years.

Sir Nigel Rudd was made chairman at BBA Aviation on Wednesday, complementing his work at Heathrow-owner BAA, where he holds the same role.

BSkyB boss Jeremy Darroch said on Thursday that it now has 5 million broadband customers.

... at a loss

Page Group chief executive Steve Ingham made himself some friends among cricket’s Barmy Army on Monday, when he blamed a slowdown in Australia for the recruiter’s profit warning. However, investors were shocked at the news and the departure of the group’s finance director, leaving the stock down nearly 5 per cent at 470p.

On Tuesday, Sir Hector Sants, stepped down from Barclays until the end of the year citing stress. The former Financial Services Authority boss is head of compliance, government and regulatory affairs at the bank.

Centrica boss Sam Laidlaw courted unpopularity on Thursday as British Gas said energy bills would go up £148 to an average of nearly £1,500.

Comments