MT's Week in 60 Seconds

The best of this week's business news: corporate travails, boardroom reshuffles and enterprising bodies...

Last Updated: 31 Aug 2010

A short week, but as usual these days, no shortage of bad news on the economic front. With more doom and gloom from the housebuilders – both Bovis and Taylor Wimpey slumped to huge losses – and news from Nationwide that house prices are now over 10% lower than this time last year, it’s no surprise that analysts are downgrading their predictions for the UK’s economic prospects. Again. And as long as Northern Rock keeps haemorrhaging public money, the Treasury doesn’t have much in its coffers to fight back.

But while some industries are struggling – airlines being another prime example – others are doing very nicely, thank you. Mining giant Rio Tinto more than doubled its profits thanks to the soaring price of commodities. And there was also good news for Mattel, which got a big compensation payout in its legal battle with upstart rival MGA (the maker of Bratz); Microsoft, as analysts welcomed the handy anti-Google features in its latest version of Internet Explorer; and RBS, which managed to recruit three heavyweight non-execs. Though whether this is good news for CEO Sir Fred Goodwin’s job prospects remains to be seen…

Meanwhile there were some unwelcome findings for the UK’s small businesses. A report discovered that a large proportion don’t have contingency plans in place to make sure their business keeps going in the event of fire, flood or man-made disaster, while new Government legislation on work-based training seemingly added more red tape to the ever-increasing burden. And worst of all, it emerged that Jordan is more of an entrepreneurial icon than the likes of Stelios and Anita Roddick, according to an online poll. It's amazing what reality TV can do. Perhaps Sir Fred should consider it?

In today's bulletin:
Zoom becomes latest casualty of aviation turbulence
It never rains but it pours for B&B
Workers nervous as pay gap widens 
MT's Week in 60 Seconds
Lessons in advertising, from YouTube

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Mike Ashley: Does it matter if the public hates you right now?

The Sports Direct founder’s response to the COVID-19 pandemic has drawn criticism, but in the...

4 films to keep you sane during the coronavirus lockdown

Cirrus CEO Simon Hayward shares some choices to put things in perspective.

Pandemic ends public love affair with Richard Branson et al

Opinion: The larger-than-life corporate mavericks who rose to prominence in the 80s and 90s suddenly...

The Squiggly Career: How to be a chief strengths spotter

When leading remotely, it's more important than ever to make sure your people spend their...

"Blind CVs don't improve your access to talent"

Opinion: If you want to hire socially mobile go-getters, you need to know the context...

The highs and lows of being a super-achiever

Pay it Forward podcast: techUK boss Jacqueline de Rojas and Google UK's marketing strategy and...