The business week in review: Toolstation, Yahoo, Next and Michael Woodford
Sunday 08 January 2012
Mark Goddard-Watts found himself £24m richer when he sold his remaining stake in Toolstation to Travis Perkins, which runs the country's biggest network of builders' merchants.
The Somerset-based businessman had already pocketed a fortune when he sold 30 per cent of the business to Travis Perkins for £18m in 2008.
Yahoo might not be struggling to remain competitive against the all-powerful Google in the search-engine market, but it's still a huge company with 700m users. So Scott Thompson will gain considerable profile as Yahoo's new chief executive, having joined from online auction firm eBay. Moreover, it will come as a relief to Yahoo, having spent four months without a boss since Carol Bartz left.
ENRC finally settled a long-running dispute with First Quantum over ownership of a copper mine in the Congo. The Kazakh mining giant that is much criticised over its corporate governance handed its rival $1.25bn to end the argument.
At a loss...
Everyone expected the high street to be the new year's great disappointment, but few expected Lord Wolfson, the chief executive at fashion chain Next, to be the first to deliver bad news.
He admitted that the dip in his company's latest sales was "slightly disappointing" and warned that consumer spending will be similar in 2012 to last year. That means not good.
Michael Woodford was in tears as he ended his bid to be reinstated as Olympus chief executive. Having blown the whistle on a number of scandals that he claims to have discovered at the Japanese group, it was always unlikely that the British businessman would win his campaign to get back the top job.
Institutional investors wouldn't publicly back him, while Woodford also said that his efforts were traumatising his wife and had to stop.
Oil behemoth Shell became the last FTSE 100 company to close its final salary pension scheme to new workers, though this won't start for another year.
- 1 Strictly Come Dancing 2014: Gregg Wallace joins line-up as final celebrities revealed
- 2 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 3 Oil tanker with $100 million cargo goes missing off Texas coast
- 4 Saudi Arabia executes 19 in one half of August in 'disturbing surge of beheadings'
- 5 Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
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