Business week in review
Sunday 15 April 2012
No revenue. Founded by a pair of twentysomethings 18 months ago. Does that sound like a $1bn company?
Facebook coughed up that in cash and shares on Monday for the photo-sharing site Instagram. A week earlier it was valued at only $500m after a fundraising. The big winner was chief executive, Kevin Systrom, 28, the largest shareholder with about 45 per cent.
Also feeling generous was RSA. On Tuesday, the insurance giant gave ex-boss Andy Haste a £500,000 bonus for being a "good leaver". His total pay came to £2.77m, up 27 per cent on the previous year.
Tullett Prebon boss Terry Smith. was also in the money. The broker's annual report revealed he took home £7.5m in pay, dividends and bonuses.
... at a loss
Barclays chief Bob Diamond endured a miserable Easter as shareholders voiced anger over his £17.7m pay packet. On Tuesday, the Association of British Insurers joined in, issuing an "amber top" warning over the American's pay, adding weight to calls to vote against Diamond's 2011 cash at the bank's annual meeting later this month.
Chief executive Steve Ingham was down on Wednesday, when Michael Page, his recruitment firm was the biggest faller in the FTSE 250, after warning of a tough labour market.
The next day, JD Sports Fashion's Peter Cowgill reported a 14.2 per cent fall in full-year pre-tax profit despite a revenues rise past £1bn.
As Voltaire once said, “Ice cream is exquisite. What a pity it isn’t illegal”
- 1 Mother fed her daughter tapeworms to make her skinny for beauty pageant
- 2 Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
- 3 Crystal Palace next manager latest: Palace consider Ally McCoist - EXCLUSIVE
- 4 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 5 Tim Sherwood column: 'It started as a three-horse race but turned into the Grand National'
'Alien thigh bone' on Mars: Excitement from alien hunters at 'evidence' of extraterrestrial life
West poised to join forces with Assad in face of Islamic State
Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – as hunt begins for killer
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Bin bag full of cats' heads discovered near Manchester's Curry Mile
Disgusting, frustrating, but intriguing: how the country really feels about its politicians
iJobs Money & Business
£20000 - £27000 per annum: Harrington Starr: Service Desk Analyst- (Desktop Su...
£25000 - £35000 per annum: Harrington Starr: Service Desk Analyst - (Active Di...
£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst - C++, Boost...
£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst (Machine Lea...