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 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 2 The confessions of men who ordered mail-order brides
- 3 UK weather: Britain braced for snow as arctic air mass moves in
- 4 Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
- 5 'Isis' schoolgirls: Missing British teenager tweets picture of her Syrian takeaway
Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
UK weather: Britain braced for snow as arctic air mass moves in
Power of Nepal earthquake was equivalent to 20 huge atomic bombs
Nepal earthquake video: Terrifying footage shows moment avalanche hit Everest Base Camp
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
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