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.
- 1 iOS 8 apps and features: eight iPhone settings you need to look at after you install the update
- 2 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 3 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 4 Scotland could still declare independence – even without referendum, says Alex Salmond
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Khorasan: Muhsin al-Fadhli - the man leading a terror group more feared by US officials than Isis
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...
Up to £80000: Saxton Leigh: My client, a large commodities broker, is looking ...