Today's letter from the Editor
Today's Matrices
iJobs Job Widget
iJobs General

Senior Risk Manager - Banking - London - £650

£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...

Commercial Litigation Associate

Highly Attractive Package: Austen Lloyd: CITY - COMMERCIAL LITIGATION - GLOBAL...

Systems Manager - Dynamics AX

£65000 - £75000 per annum + Benefits: Progressive Recruitment: The client is a...

Service Delivery Manager (Software Development, Testing)

£40000 - £45000 per annum: Ashdown Group: A well-established software house ba...

The Business Matrix: Friday 18 March 2011

Murdoch sued for ‘nepotism’

Two investors in the media giant News Corp are suing Rupert Murdoch and the rest of the media giant’s board over its deal to buy Elisabeth Murdoch’s TV business, Shine. The lawsuit alleges the deal is “unfairly” priced and reliant on “nepotism”. MORE

Chairman steps down at Macquarie

David Clarke, the chairman of Macquarie, is stepping down because of ill health. Mr Clarke joined the bank in the early 1970s when itwas founded as an Australian subsidiary of London’s Hill Samuel, before becoming Macquaire in 1985.

Belsham signs up to boost Ocado

Ocado, the online grocer which supplies Waitrose and its own-brand groceries, has hired Simon Belsham, an internet director at Tesco, as its head of non-food. Mr Belsham will aim to grow Ocado’s existing non-food ranges, which are currently modest, with products such as tableware, magazines, small toys, gifts and fresh flowers.

Ambani joins board of Bank of America

Bank of America has named Mukesk Ambani, the head of Reliance Industries, as its first non-American board member. Mr Ambani has headed Reliance Industries, a petrochemical company that is India's largest private business with $44.6bn in annual revenues, since 2002.

Greece jobless rate hits record high

Greece’s unemployment rate rose to 14.2 per cent in the last quarter of 2010 – the highest level since the introduction of the euro, up from 12.4 per cent in the previous three-month period as economic activity slumped. Almost half of the country’s jobless have been out of work for more than a year.

Spain gets debt auction away

Spain sold €4.1bn (£3.6bn) of long-term debt yesterday, buoyed by a surprise agreement by European leaders on a regional rescue plan last weekend, though borrowing costs remained high. It has also been less affected by a flight to safety since Japan’s earthquake than Portugal, where politicans are arguing over austerity plans.

L&G reports strong year

Legal & General proclaimed its results for 2010 “excellent” and said it stood to benefit from the Government’s austerity measures as more people look to save. Profits from savings products rose 130 per cent to £115m on increased demand for private pensions. However, L&G’s UK general insurance business made a loss of £8m after December’s snow caused a spike in claims. Group profits for 2010 were up 2 per cent at £1.1bn.

Savills resilient to housing downturn

The upmarket estate agent Savills has reported a near doubling in profits to £47m as prime properties in central London proved resilient to the housing downturn. Savills said the residential market in London and the Home Counties slowed in the second half of the year as the best properties reached their pre-recession peaks. The market is likely to remain slow in the first half of 2011 although it should pick up in the second half.

New £51m fund to boost research

The Government has unveiled a £51m investment package to boost manufacturing research. The Universities and Science Minister David Willetts said the aim was to stimulate growth through research in areas such as pharmaceuticals, aerospace and the automotive industry. About £45m will fund nine centres for innovative manufacturing at universities including Cranfield and Nottingham.

Lloyds to cut another 570 jobs

Lloyds is to axe another 570 jobs and outsource more than 560 posts. The jobs will be lost from the group's wholesale, retail, insurance and human resources divisions, affecting areas such as Chester (140 jobs), Scotland (90), Halifax (85), London (50) and Manchester (50). The cuts take the total number of jobs lost since Lloyds merged with TSB two years ago to more than 26,700.

‘New York Times’, they are a-charging

The New York Times has started to charge readers for access to its website. The paper, one of the most influential in the US, said it would limit readers to 20 articles a month, after which they would have to pay a subscription fee of at least $15 (£9). It estimates 85 per cent of visitors to the site will not be asked to pay.

‘Telegraph’ profits rise by 11 per cent

Telegraph Media Group (TMG), the company that publishes The Telegraph newspaper, scored a profits rise of 11 per cent last year. The group filed its accounts with Companies House yesterday, showing a rise in pre-tax profits from £53m in 2009 to £58.9m a year later. Turnover was up 2.1 per cent to £323.8m.

Heritage shares up after bid rejection

Heritage Oil jumped 8 per cent yesterday after the exploration company reportedly rejected a £1.2bn bid from an Abu Dhabi-based suitor. The company’s shares have fallen by about one third since it revealed in January that it had found gas rather than oil at its Miran West field in Kurdistan.

Wood Group signs Australian deal

The oil, gas and mining specialist Wood Group, based in Aberdeen, has signed a five-year agreement with Australia’s largest gold producer, Newcrest Mining, to provide services for its power stations – a 138MW gas/diesel plant and a 13MW diesel plant – at Newcrest’s Telfer Gold Mine, in Pilbara, Western Australia.

Career Services

Day In a Page

Evan Davis: The BBC’s wolf in sheep’s clothing to take over at Newsnight

The BBC’s wolf in sheep’s clothing

What will Evan Davis be like on Newsnight?
Finding the names for America’s shame: What happens to the immigrants crossing the US-Mexico border without documents who never make it past the Arizona desert?

Finding the names for America’s shame

The immigrants crossing the US-Mexico border without documents who never make it past the Arizona desert
Inside a church for Born Again Christians: Speaking to God in a Manchester multiplex

Inside a church for Born Again Christians

As Britain's Anglican church struggles to establish its modern identity, one branch of Christianity is booming
Rihanna, Kim Kardashian and me: How Olivier Rousteing is revitalising the house of Balmain

Olivier Rousteing is revitalising the house of Balmain

Parisian couturier Pierre Balmain made his name dressing the mid-century jet set. Today, Olivier Rousteing – heir to the house Pierre built – is celebrating their 21st-century equivalents. The result? Nothing short of Balmania
Cancer, cardiac arrest, HIV and homelessness - and he's only 39

Incredible survival story of David Tovey

Tovey went from cooking for the Queen to rifling through bins for his supper. His is a startling story of endurance against the odds – and of a social safety net failing at every turn
Backhanders, bribery and abuses of power have soared in China as economy surges

Bribery and abuses of power soar in China

The bribery is fuelled by the surge in China's economy but the rules of corruption are subtle and unspoken, finds Evan Osnos, as he learns the dark arts from a master
Commonwealth Games 2014: Highland terriers stole the show at the opening ceremony

Highland terriers steal the show at opening ceremony

Gillian Orr explores why a dog loved by film stars and presidents is finally having its day
German art world rocked as artists use renowned fat sculpture to distil schnapps

Brewing the fat from artwork angers widow of sculptor

Part of Joseph Beuys' 1982 sculpture 'Fettecke' used to distil schnapps
BBC's The Secret History of Our Streets reveals a fascinating window into Britain's past

BBC takes viewers back down memory lane

The Secret History of Our Streets, which returns with three films looking at Scottish streets, is the inverse of Benefits Street - delivering warmth instead of cynicism
Joe, film review: Nicolas Cage delivers an astonishing performance in low budget drama

Nicolas Cage shines in low-budget drama Joe

Cage plays an ex-con in David Gordon Green's independent drama, which has been adapted from a novel by Larry Brown
How to make your own gourmet ice lollies, granitas, slushy cocktails and frozen yoghurt

Make your own ice lollies and frozen yoghurt

Think outside the cool box for this summer's tempting frozen treats
Ford Fiesta is UK's most popular car of all-time, with sales topping 4.1 million since 1976

Fiesta is UK's most popular car of all-time

Sales have topped 4.1 million since 1976. To celebrate this milestone, four Independent writers recall their Fiestas with pride
10 best reed diffusers

Heaven scent: 10 best reed diffusers

Keep your rooms smelling summery and fresh with one of these subtle but distinctive home fragrances that’ll last you months
Commonwealth Games 2014: Female boxers set to compete for first time

Female boxers set to compete at Commonwealth Games for first time

There’s no favourites and with no headguards anything could happen
Five things we’ve learned so far about Manchester United under Louis van Gaal

Five things we’ve learned so far about United under Van Gaal

It’s impossible to avoid the impression that the Dutch manager is playing to the gallery a little