Business Point

  IMAGE SOURCE, REUTERS British luxury department store chain Selfridges is being sold to a Thai retailer and an Austrian property firm. The deal for the majority of Selfridges Group is worth around £4bn ($5.4bn), the BBC understands. Founded in 1908 by US retail magnate Harry Gordon Selfridge, the company is best known for its flagship department store on London's Oxford Street. The Canadian wing of the billionaire Weston family bought Selfridges for nearly £600m in 2003. "It is a privilege to be acquiring Selfridges Group, including the flagship Oxford Street store, which has been at the centre of London's most famous shopping street for over 100 years," Central Group's chief executive Tos Chirathivat said in a statement. It was revealed earlier this month that Central Group was close to agreeing a deal to take over Selfridges. Selfridges Group employs around 10,000 people and owns 25 stores worldwide, including in major cities in England, Ireland, the Netherlan...

  IMAGE SOURCE, REUTERS Image caption, Sheikh Mohammed Bin Rashid Al-Maktoum and his estranged wife, Princess Haya Bint Al-Hussain It's described as the biggest divorce case in British legal history - a settlement of more than £500m involving the billionaire ruler of Dubai and his estranged wife. The UK's High Court on Tuesday awarded a lump sum settlement of £251.5m to Princess Haya Bint Al-Hussain - the 47-year-old daughter of Jordan's former King Hussein. She is the youngest of six wives of Sheikh Mohammed Bin Rashid Al-Maktoum - the multi-billionaire ruler of Dubai, prime minister of the UAE and influential horse-racing owner. The judgment provides Princess Haya with sums to cover the cost of running two multi-million pound properties - one next to London's Kensington Palace, as well as her main residence in Egham, Surrey. There is also provision for a substantial "security budget" as well as holidays, salaries and accommodation for both a nurse and a nann...