Rupert Murdoch plots takeover of Rightmove
Plus, Ryanair considers a move into package holidays, dynamic pricing under investigation after Oasis ticket complains and how to write the perfect CV
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Business Agenda
A summary of the most important business news
1. Rightmove is one of a small group of companies that were founded in the UK in the 21st century and made it to the FTSE 100 (Ocado is another). Rightmove was started in 2000 when four estate agents came together to promote properties they were selling on the internet. But Rightmove might not be part of the FTSE 100 for much longer. Rea, the Australian company, has said it is considering a takeover bid. Rea is 61 per cent owned by Rupert Murdoch’s News Corp, parent company of The Times and The Sun, and the leading online property website in Australia.
In a statement, Rea says: “Rea sees a transformational opportunity to apply its globally leading capabilities and expertise to enhance customer and consumer value across the combined portfolio and to create a global and diversified digital property company, with number one positions in Australia and the UK.” Rightmove shares have risen 20 per cent following the announcement, valuing the company at more than £5bn. You can find Rea’s statement here.
2. Businesses that don’t abide by new rules that give more power and freedom to workers will be given big fines, according to a report by The Times. You can read more here.
3. Sticking with the new government, Labour has said it will look into the use of dynamic pricing after Oasis fans rushing to buy tickets for the band’s reunion tour complained that prices had risen sharply above what they expected. Dynamic pricing involves the price of a product rising or falling depending on demand, like airline tickets. Tickets for the Oasis concerts went on sale on Saturday on Ticketmaster and rose during the day. You can read more here.
4. From the weekend papers, Ryanair is looking at launching package holidays, according to The Telegraph. More here.
5. Also from the weekend, The Sunday Times reported that John Lewis has told 7,000 shop floor staff that they are at risk of losing their job. More here.
Business Question
Guess the company
- It was co-founded by Dave Dodd and a father-and-son team
- The first store opened in Burton-on-Trent in 1990
- It was sold to Advent International
- It floated on the London Stock Exchange in 2014
- It’s now part of a group which has more than 4,000 stores and employs 43,000 people
The answer can be found at the bottom of the page.
Business Thinker
Deep dives on business and leadership
By Sarah Vizard
This piece from The Economist’s Bartleby column looks at the art of writing the CV. Much like meeting a stranger at a party, it’s important to make a good first impression and remember that what you leave out matters as much as what you say. A CV is not an autobiography, the piece advises, nor does it need a personal statement.
🚲 The four-wheel cargo bike makers seeking to oust vans from cities
The Financial Times has done a deep dive into the cargo bike industry, exploring how a five-year-old sector is seeking to transform the delivery industry. The hope is they can replace some of the diesel-guzzling vans clogging up Britain’s roads. But concerns over reliability have held them back… until now.
🔥 Why companies should embrace disruptive climate activism
Most companies’ climate targets are inadequate, according to the global MSCI index’s April report, yet many are also stopping climate activism. This article from Harvard Business Review argues that rather than being defensive, companies should promote disruptive activism. For example, Patagonia has a platform, Action Works, that support climate protest groups. Microsoft, meanwhile, has an internal interest group for climate action that has 10,000 members.
Business Quote
Inspiration from leaders
“You can knock on a deaf man’s door forever.”
– Nikos Kazantzakis
Business Leader
The best of our content
How to tap the power of neurodiverse talent
While many companies recognize the value of diversity, neurodiversity often remains overlooked. Despite widespread equity policies, few SMEs actively focus on integrating neurodiverse talent, leading to missed opportunities.
Our talent management expert Niki Turner-Harding says that by embracing neuroinclusive recruitment and retention strategies, businesses can unlock significant benefits, from enhanced creativity to greater loyalty, ensuring they remain agile in today’s challenging markets.
You can read the article here.
Other popular pieces
💻 Inside the rise of Larry Ellison’s tech empire
🟢 The net-zero transition: A 3-point plan for smaller businesses
And finally…
By Sarah Vizard
I spent quite a lot of time this weekend watching the Paralympics over in France. A quiet day on the medal front for Team GB on Saturday was followed by the team’s best day for golds this century, with medals in the pool, in the velodrome, on the track and on the water.
The Paralympics is fascinating for its insight into the versatility of humans and the challenges we can overcome when we put our minds to it. With that in mind, The Atlantic is running a great series focusing on a photo of the day. Today’s is of blind football, where Hicham Lamlas of Morocco collided with Maximiliano Espinillo of Argentina.
The game is played between two teams of five, made up of four vision-impaired outfield players wearing blindfolds and a goalkeeper who is sighted or partially sighted. Players work out where the ball is by listening to a bell on the inside and take strategic updates from the goalkeeper. Even then, collisions happen.
You can see the series here.
The answer to today’s Business Question is Poundland.
