Diageo’s outgoing chief executive, Paul Walsh, with some of the company’s products

Ivan Menezes celebrated his success landing the job as boss of the world's biggest drinks company, Diageo, with a glass of Johnnie Walker Blue Label whisky on the flight from London to New York. The promotion of the chief operating officer and company insider didn't scare the horses in the City as the shares barely twitched. But as he sipped the £130 liquor on the plane Mr Menezes might well have pondered the shoes he will have to fill when Paul Walsh, the FTSE 100's third longest-serving boss, departs.

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Lord Bell set for battle with WPP over Bell Pottinger buyout plan

Lord Bell is poised to spell out plans for his controversial buyout of the PR firm Bell Pottinger at the annual meeting of parent company Chime Communications this Wednesday, in the face of fierce opposition.

Business week in review

In profit...

'PM does not have credible growth plan', says Sorrell

One of Britain's leading captains of industry yesterday warned that David Cameron has still not come up with a credible growth plan and risks being "blown off course" by news events.

It's bad, but this is not a recession, say businesses

Business leaders cast doubt on yesterday's gloomy GDP figures, arguing that the slump they suggested was not only at odds with their experience but also threatened Britain's fragile economic confidence.

Britain's bosses tell the ONS: it's bad, but not a recession

Corporate leaders fear GDP data will panic consumers while CBI suggests manufacturing remains robust

Stephen Glover: Murdoch haters can't have itboth ways

The tragic death of Marie Colvin has stirred a thousand pens into action, and rightly so. David Cameron and Ed Miliband praised her in the Commons. After months during which newspapers and journalists have been portrayed in unflattering terms, here was a brave and resourceful reporter who had devoted her life to writing about the horrors of war. Despite the awfulness of what had happened, many journalists felt a little better about their trade.

Business Diary: Britain sticks it to French again

In this era of isolationism, the British Government clearly isn't missing any opportunity to stick two fingers up to the French.

Markets crisis could prompt new spending dip, says Sorrell

The world's largest advertising group, WPP, has warned the latest stock-market crisis could hit client spending in 2012, as emerging-market and digital services helped it to post a surge in first-half profits.

Market Report: Aegis shoots higher on talk of a bid from WPP

Bid speculation returned around Aegis last night, as vague rumours suggesting its much bigger rival WPP may be interested in a renewed takeover attempt prompted a sharp rally late in the session.

Leading article: No escape from Sir Martin's watchful eyes

When you make your next purchase online, Sir Martin Sorrell will probably get to learn of it. The Briton who heads the world's biggest advertising group, WPP, yesterday launched a new company, Xaxis, which will preside over the "world's largest database" of 500 million personal profiles, based on such things as the individual's choice in websites and purchases made online. Xaxis will track "almost 100 per cent of the UK population".

WPP's Sir Martin joins board of Stanhope Capital

Sir Martin Sorrell, advertising giant WPP's chief executive, is joining the board of Stanhope Capital, one of Britain's biggest wealth-management groups – with $7.5bn of funds.

Business diary: Tesco's ruthless shopper pursuit

Is Tesco's pursuit of every last high street pound going just a little too far? Only asking, after seeing a customer, who had abandoned in frustration an attempt to buy a bottle of water at a self-service till, being pursuing down Wimbledon's high street by a staff member calling on nearby policemen for help to stop her. He escorted her back to the till and ordered her to complete the transaction, before an apologetic manager intervened.

WPP's Sorrell says he is 'optimistic'

Sir Martin Sorrell, chief executive of advertising giant WPP said he was "cautiously optimistic" over the group's prospects for the year.

WPP forges 'unholy alliance' with Vice stake

Sir Martin Sorrell has dusted off his youth credentials with an investment in Vice Media, the group that publishes Vice, the self-confessed "coolest magazine in the world".

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Watch out Watford: Here comes the secretive Bilderberg Group

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A meeting of global power brokers in a Hertfordshire hotel is exciting conspiracy theorists, but what are they really about?
'The ultimate all-in-one home entertainment system': Microsoft finally unveils its Xbox ONE console

'The ultimate all-in-one home entertainment system'

Microsoft finally unveils its Xbox ONE console
Plenty of Fish dating site founder pulls 'Intimate Encounters' option to ward off sleazy men

Plenty of sleaze

Dating website pulls intimate 'hook-up' section to curb harassment
Inferno author Dan Brown 'honoured' to be invited to join the Freemasons

The Freemasons’ Code

Dan Brown reveals the message that told him door to the lodge is open
Not secure any more: G4S boss heads for exit at last

Not secure any more: G4S boss heads for exit at last

Nick Buckles survived the Olympics débâcle and a £5bn bid fiasco but a profit warning finally triggered his downfall
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How to say ‘I’m a sellout’

Tumblr’s David Karp’s message of reassurance to his staff sounded very familiar
Why clubs are keen to take a stand

Why clubs are keen to take a stand

There's a real desire around the grounds for safe standing. But will the authorities listen?
In the end the fans decided Tony Pulis had made a pig's ear of the job at Stoke City

In the end the fans decided Tony Pulis had made a pig's ear of the job at Stoke City

Disillusion with a siege mentality and negative playing style made change inevitable
James Lawton: The James Hunt I knew is the subject of a new F1 movie

James Lawton: The James Hunt I knew is the subject of a new F1 movie

British driver was fascinating man whose epic duel with Niki Lauda in 1976 was typical of an era of glamour and glory – but also the ever-present threat of death
Stuart Hogg: Ready to climb his own Everest

Stuart Hogg: Ready to climb his own Everest

Lions' cub, 20, joins long line of players from Scottish borders club Hawick given opportunity to make his mark at highest level
Carl Froch handed rare chance of revenge with dream rematch

Steve Bunce on Boxing

Carl Froch handed rare chance of revenge with dream rematch against Mikel Kessler
'There is a battle going on inside us that is never discussed'

Masculinity in crisis?

'There is a battle going on inside us that is never discussed'
Have US shock jocks gone too far?

Have US shock jocks gone too far?

An incendiary remark from Rush Limbaugh may be the beginning of the end for outspoken right-wing US broadcasters
The ‘Beverly Hills’ of Surrey pays more income tax than big cities of the North

The ‘Beverly Hills’ of Surrey

Elmbridge pays more income tax than big cities of the North
Heavenly Bodies

Heavenly Bodies

Michael Landy's artistic marriage made in heaven... and hell