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

Recruitment Genius: Installation and Service / Security Engineer

£22000 - £40000 per annum: Recruitment Genius: This company is part of a Group...

Recruitment Genius: Service Charge Accounts Assistant

£16000 - £18000 per annum: Recruitment Genius: Are you a a young, dynamic pers...

Cancer Research UK: Corporate Partnerships Volunteer Events Coordinator – London

Voluntary: Cancer Research UK: We’re looking for someone to support our award ...

Ashdown Group: Head of IT - Hertfordshire - £90,000

£70000 - £90000 per annum + bonus + car allowance + benefits: Ashdown Group: H...

The Business Matrix: Friday 6 May 2011

Matalan hires new chief executive

The discount fashion retailer Matalan has hired Darren Blackhurst, a former executive at Asda, as its next chief executive. Mr Blackhurst quit his post as chief merchandising officer at Asda in 2010. The headhunter firm Flint Hyde placed Mr Blackhurst.

Music firms sue Gorton for $1.4bn

Mark Gorton, a former Credit Suisse trader who founded the filesharing website LimeWire, is facing a $1.4bn (£853m) claim for damages from the music industry. The case, the latest in a series of legal actions against the now defunct site, began yesterday.

St James’s Place founder to retire

Mike Wilson one of the founders of St James’s Place, is to step down as chairman of the financial services group at the end of the year. Charles Gregson, Icap’s chairman, will replace him. Mr Wilson, Sir Mark Weinberg and Lord Rothschild set up the group 20 years ago.

Change in M&S boardroom

Sir David Michels is stepping down as deputy chairman of Marks & Spencer next February after six years, while Louise Patten, who joined as a non-executive director in 2006, will stand down following the retailer’s annual meeting on 13 July.

London office rents stall

Rental growth in the UK’s central London office sector slowed in first quarter, weighed by cooling demand for City offices. The property services group CB Richard Ellis said prime rents in the City were flat at £55 a square foot, while office lettings across central London were down by almost half on the previous quarter.

Minerva takeover talks continue

Minerva, the property developer behind The Walbrook in the City of London, has reported quiet office leasing activity in the first quarter. The firm said talks with a number of bidders – revealed in January – were ongoing and that it had also begun discussions with its banks about renewing its loan facilities which expire later this year.

Blavatnik ready to buy Warner Music

Warner Music’s board met last night amid expectations that the world’s third-largest music company could be sold for about $3bn to the Russian-American industrialist Len Blavatnik’s Access Industries. Mr Blavatnik is a long-time associate of Warner’s chief executive, Edgar Bronfman. If the deal goes through, a bid to buy EMI, the UK music group that is home to the Beatles catalogue, is expected.

Box Clever deal saves 400 jobs

The TV and white goods rental business Box Clever has been bought by an investment company for an undisclosed sum, in a deal that safeguards 300 jobs. Weight Partners has purchased all the shares of Boxclever – created by the merger of Radio Rentals and Granada Rentals – from the US private equity firms Cerberus and Fortress. Boxclever no longer has stores, but the online operation delivers sales of £40m a year.

GM poised to regain top spot

General Motors posted stronger-than-expected quarterly profits yesterday, driven by a recovery in the US market and strong sales in Asia, leaving the US giant in pole position to reclaim the title of the world’s largest car maker from Toyota this year. But even though GM’s total sales rose 15 per cent to $36.2bn (£22bn), shares in the company slipped as analysts worried about its aggressive price cuts.

Poundstretcher buys Alworths

Poundstretcher has stepped in to salvage Alworths, dubbed the “son of Woolworths”, which tumbled into administration last month. The stores’ administrator, Leonard Curtis, said it had sold the entire business as well as 15 of the 17 stores put into administration at the end of March. Alworths was set up in 2009 by a former Woolworths executive, Andy Latham.

US jobless rises as productivity slows

New claims for unemployment benefits in the US have climbed to an eight-month high, while productivity growth slowed over the first three months of the year. Initial benefit claims rose by 43,000 to 474,000, while productivity rose at an annual rate of 1.6 per cent in the first quarter, down from the 2.9 per cent seen at the end of 2010.

Euro rates set to be held again in June

The European Central Bank president, Jean-Claude Trichet, indicated that eurozone interest rates were unlikely to rise next month but left the door firmly open for an increase in July. Mr Trichet did not use the phrase “strong vigilance” – which has heralded previous rises – after the ECB’s decision to leave rates at 1.25 per cent.

Flybe introduces fuel surcharge

The regional airline Flybe warned demand for leisure travel has slumped as the consumer spending squeeze moves in on the airline industry. The carrier said while business travel, which makes up 45 per cent of its passengers, was resilient and said it was adding a £3 fuel surcharge to combat soaring costs.

Lufthansa positive on flying higher

The German carrier Lufthansa insisted it could still achieve higher profits this year despite the impact of soaring fuel prices, which account for a third of its costs. The airline hedges its exposure to oil prices, has installed lighter seats on some planes and plans to replace older aircraft with newer, more fuel-efficient ones.

Latest stories from i100
Career Services

Day In a Page

General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband

Chuka Umunna: A virus of racism runs through Ukip

The shadow business secretary on the benefits of immigration, humility – and his leader Ed Miliband
Yemen crisis: This exotic war will soon become Europe's problem

Yemen's exotic war will soon affect Europe

Terrorism and boatloads of desperate migrants will be the outcome of the Saudi air campaign, says Patrick Cockburn
Marginal Streets project aims to document voters in the run-up to the General Election

Marginal Streets project documents voters

Independent photographers Joseph Fox and Orlando Gili are uploading two portraits of constituents to their website for each day of the campaign
Game of Thrones: Visit the real-life kingdom of Westeros to see where violent history ends and telly tourism begins

The real-life kingdom of Westeros

Is there something a little uncomfortable about Game of Thrones shooting in Northern Ireland?
How to survive a social-media mauling, by the tough women of Twitter

How to survive a Twitter mauling

Mary Beard, Caroline Criado-Perez, Louise Mensch, Bunny La Roche and Courtney Barrasford reveal how to trounce the trolls
Gallipoli centenary: At dawn, the young remember the young who perished in one of the First World War's bloodiest battles

At dawn, the young remember the young

A century ago, soldiers of the Empire – many no more than boys – spilt on to Gallipoli’s beaches. On this 100th Anzac Day, there are personal, poetic tributes to their sacrifice
Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves

Follow the money as never before

Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves, reports Rupert Cornwell
Samuel West interview: The actor and director on austerity, unionisation, and not mentioning his famous parents

Samuel West interview

The actor and director on austerity, unionisation, and not mentioning his famous parents
General Election 2015: Imagine if the leading political parties were fashion labels

Imagine if the leading political parties were fashion labels

Fashion editor, Alexander Fury, on what the leaders' appearances tell us about them
Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

The architect of the HeForShe movement and head of UN Women on the world's failure to combat domestic violence
Public relations as 'art'? Surely not

Confessions of a former PR man

The 'art' of public relations is being celebrated by the V&A museum, triggering some happy memories for DJ Taylor
Bill Granger recipes: Our chef succumbs to his sugar cravings with super-luxurious sweet treats

Bill Granger's luxurious sweet treats

Our chef loves to stop for 30 minutes to catch up on the day's gossip, while nibbling on something sweet
London Marathon 2015: Paula Radcliffe and the mother of all goodbyes

The mother of all goodbyes

Paula Radcliffe's farewell to the London Marathon will be a family affair
Everton vs Manchester United: Steven Naismith demands 'better' if Toffees are to upset the odds against United

Steven Naismith: 'We know we must do better'

The Everton forward explains the reasons behind club's decline this season
Arsenal vs Chelsea: Praise to Arsene Wenger for having the courage of his convictions

Michael Calvin's Last Word

Praise to Wenger for having the courage of his convictions