The Business Matrix: Friday 5 April 2013


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The Independent Online

Debenhams signs Sewing Bee's Grant

The department stores chain Debenhams has signed up the Savile Row tailor Patrick Grant.The designer, pictured left, who stars on BBC2's Great British Sewing Bee, will introduce his Hammond & Co by Patrick Grant collection at 50 Debenhams shops in December. Prices of the 70-piece collection will range from £14 to £299.

Horse meat boosts sales of pork

The horse meat scandal has provided a boost to pork processor Cranswick as it said sales shot up by 13 per cent in the three months to the end of March. The group, which saw overall underlying sales rise 7 per cent in the year to 31 March, said it welcomed moves by some customers to look toward a more transparent supply chain.

BG bosses forego 2012 bonuses

BG Group's former boss, Frank Chapman, and other leading executives at the oil explorer will get no performance bonus for 2012, even though they met the criteria for one to be considered. They decided it would be "inappropriate" given BG's share price fall during the final quarter of the year.

Caterers push up Booker sales

More caterers stocked up at Booker in the past 12 months, pushing sales at Britain's biggest cash-and-carry chain up 3.5 per cent to £4bn for the year. The wholesaler said in the three months to April, total sales rose 2.3 per cent on the same period a year earlier.

Firms compete for Brazil oil rights

Brazil said 71 firms, including six from the UK, have signed up to bid in its 11th round auction of oil exploration and production rights in May. The groups include Shell, France's Total and Exxon Mobil and Total of the US as well as Brazil's Petrobas.

Enron boss may leave prison early

Jeffrey Skilling, the former Enron chief executive who is serving a 24-year sentence over the oil trader's collapse, may get a chance to leave prison early. The US Department of Justice has indicated that prosecutors are considering entering an agreement with Skilling that could result in his being resentenced.

Corzine's bets led to MF Global's fall

Jon Corzine's bets on European sovereign debt while head of the MF Global brokerage led to the firm's dramatic collapse in 2011, according to a report by the bankruptcy trustee. Louis Freeh, a former FBI director, acknowledged that a slow recovery had played a role in MF Global's woes, but he said "negligent conduct" contributed to its failure.

Airbus flying high with orders

Airbus delivered 144 planes to airlines in the first three months of the year, 10 per cent more than the same time in 2012, it said yesterday. That included the 100th delivery of Airbus's flagship A380, to Malaysia Airlines. Rival Boeing was also celebrating after it received a $4bn order for 18 of its Dreamliner jets.

KCom deal to plug thanks alot

KCom has struck a deal to help plug its pension deficit. The Hull-based telecoms group has agreed to transfer a number of freehold properties into a partnership that will provide the schemes with an annual income of £1.1m, rising in line with inflation each year up to £10m.

Malaysian Navy places BAE order

BAE Systems has secured an order worth £38m to supply the Royal Malaysian Navy with six 57mm Mk 3 naval guns. The weapons will be designed and built in Sweden and the first will be ready for delivery in the middle of 2015.