Business week in review

Suggested Topics

In profit ...

Vittorio Colao, the chief executive of Vodafone, was bullish about its proposed £1bn bid for Cable & Wireless Worldwide on Monday, but the telecoms firm's biggest shareholder threw a potential spanner in the works.

Mr Colao said: "We will move from No 4 position to No 2," explaining how the 38p-a-share offer would see it jump to being second only to BT in the UK. While CWW's board unanimously backed the offer, Orbis, which owns 19 per cent of the company, said it did not "reflect the value inherent in CWW".

Soaring value is a familiar tune at Apple. On Tuesday, chief executive Tim Cook revealed it had sold 35 million iPhones in the first quarter, blowing forecasts out of the water. Aided by sizzling sales of iPads and a return to form of Mac laptops, Apple delivered a 93 per cent rise in profit to $11.6bn (£7.1bn) in the quarter.

George Weston, boss of Associated British Foods, the sugar-to-retail group, forecast on Thursday an acceleration in Primark's profits over the next six months, after a 3 per cent rise in group profits in its first half.

...at a loss

Hornby, the model trains and Scalextric group, had a bumpy start to the week after issuing its second profit warning of the year, blaming the UK's "weak retail environment". But there was a return to profitability in its international business and chairman Neil Johnson struck an upbeat note on its Olympic-themed products, saying "Our London 2012 Games range of merchandise is proving to be increasingly popular."

For different reasons, Capita's chief executive Paul Pindar, had an unwelcome day in the spotlight on Tuesday, when he sold shares worth £2.7m in the services company. It is understood much of the proceeds will finance an eye-watering divorce settlement. Mr Pindar – who once reassured employees he was not a fat cat, as he only earned £14,500 a week – still owns stock worth £9m.

Another week, another subdued chief executive, this time Ana Botin of Santander UK. The bank's profits tumbled by 40 per cent in its first quarter after it suffered from higher regulatory and funding costs.

Independent Comment
blog comments powered by Disqus
Career Services

Day In a Page

The 50 Best beachwear

The 50 Best beachwear

The hottest summer gear for men and women
Still standing: George Galloway reveals why his staunchly Leftist outlook is still invariably right

Still standing: George Galloway

Written off, ridiculed, wrongly accused of taking bribes the honourable member for Bradford West, has never bowed to the critics.
How will Daniel Radcliffe's fans react to his latest turn - as a damaged, drug-taking Beatnik poet?

Daniel Radcliffe as drug-taking Beatnik poet

His decade as the boy wizard may be over, but that hasn't hexed Daniel Radcliffe's enchanted life.
For whom the bell tolls: £20m 'Memo' project takes shape on Dorset's Jurassic coast

'Memo' project takes shape on Dorset coast

It started as a stonemason's visionary idea – to commemorate all the species that have ever existed and are now extinct.
Just add sunshine: Bill Granger's Turkish delights

Just add sunshine: Bill Granger's Turkish delights

Turkish cuisine is perfect for those long, sociable weekend meals with friends. It's just a shame that money can't buy the key ingredient.
Objets czar: David Usborne’s collection of myriad objects is quite the mystery

Objets czar: David Usborne’s collection of myriad objects

To others, they're junk. To David Usborne, they are his life: useful gizmos, mysterious thingamajigs and anonymous articles that dominate his home.
The iron ore lady: Why the world's richest woman is mired in controversy

World's richest woman: Gina Rinehart

Family feuds, attempts to control the Australian media and bitter public disputes are keeping the mining magnate in the headlines.
We just click: How Lego keeps building on its success

How Lego keeps building on its success

This year, Lego announced record profits. Gerard Gilbert visits its Denmark HQ.
The other bits: Mark Hix creates delicious and economical meals with cheaper cuts of meat

Mark Hix cooks with cheaper cuts of meat

Our chef creates delicious and economical meals on a budget
Strokes of genius: How to create summer's bold make-up look

Strokes of genius: Summer's bold make-up

From coral lips to fly-away fringes, make-up artist Kim Brown and hair stylist Richard Scorer reveal how to create the look
Marking his territory: Kilian Hennessy creates fragrances designed to provoke the senses

Marking his territory: Kilian Hennessy

The perfumer creates fragrances designed to provoke the senses
Photo essay: Britain's 1948 Olympians today

Britain's 1948 Olympians today

Photo essay
The top five E3 2012 triumphs: From Ubisoft's suite of titles to Dishonored and The Last of Us

The top five E3 2012 triumphs

The games and moments that left us grinning like the Cheshire Cat
The green movement at 50: Can the world be saved?

Can the world be saved?

Population growth and climate change are the big problems facing the earth in the next 50 years. But are there any solutions?
France: Will xenophobia go mainstream?

France: Will xenophobia go mainstream?

In the beautiful Rhone delta, John Lichfield visits a village where a dangerous new political landscape is taking shape