Business week in review
Sunday 27 October 2013
Having spent years delighting customers with his London Eye, Madame Tussauds, and Alton Towers attractions, Nick Varney finally gets to live his own dream: the listing of Merlin Entertainments. On Monday, the chief executive outlined plans that would value the attractions empire at around £3bn.
Given the recent rush of small investor interest in Royal Mail, Merlin is offering the opportunity to own a slice of the business for a minimum £1,000.
Monday was quite a day for flotation fans, as Guy Hands unveiled the biggest share sale of a pure renewables company in the UK. Infinis started life as a landfill energy business, but the group now focuses on windfarms.
Santander's British boss, Ana Botin said on Thursday she was "encouraged by early signs of UK economic recovery". The bank announced 900,000 people had signed up to its 123 account since the start of the year.
...at a loss
Former Co-op Group chief executive Peter Marks was subjected to a no-holds-barred grilling from Treasury Select Committee MPs on Tuesday. Appearing repeatedly flustered, he refused to take the blame for the near-collapse of Co-op Bank, even though he sat on the board of the lender. He blamed successive bosses of the banking division, saying that he was merely a non-executive director of that subsidiary.
Mr Marks even claimed he had warned the group board that it was overstretching management by trying to be everything from a "major food retailer" to a "major funeral business".
On Wednesday, banknote manufacturer De La Rue saw its shares hammered by a profit warning. Chief executive Tim Cobbold said he expected the producer of more than 150 currencies to be £10m short of a £100m operating profit target.
Unilever boss Paul Polman announced a near 7 per cent slump in global turnover on Thursday.
International Women's Day 2014: The shocking statistics that show why it is still so important
Singapore sting: Sky-high prices are pushing locals to the edge of affordability
International Women’s Day: 'When a man gives his opinion, he's a man. When a woman gives her opinion, she's a bitch' - feminist quotes from female icons to inspire you
International Women's Day 2014: Cherie Blair - ‘Today is a chance to see how far we still have to go’
Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
White people become less racist just by moving to more diverse areas, study finds
Exclusive: Impact of immigrants on British workers ‘negligible’
- 1 International Women's Day 2014: The shocking statistics that show why it is still so important
- 2 Orgasm machine to deliver climax at the push of a button
- 3 Singapore sting: Sky-high prices are pushing locals to the edge of affordability
- 4 Liam Neeson turned down James Bond role because late wife Natasha Richardson said she wouldn't marry him if he took it
- 5 Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
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