Today's letter from the Editor
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The Business Matrix: Monday 21 January 2013
Tesco opens fifth online 'dark store'
Tesco will today ratchet up the pressure on the online grocer Ocado by opening its latest "dark store" in West Sussex, creating 700 new jobs. The opening of the facility in Crawley means the grocer now has five dotcom-only stores, which are used to fulfil grocery orders but don't have any customers. Tesco uses a pick-in-store model for most of its online grocery.
Santander eyes £2bn bank deals
Santander is considering a £2bn acquisition of Clydesdale and Yorkshire banks, as part of plans to ramp up its UK presence. The UK division of the Spanish bank is understood to have been plotting a move on the two banks, which are both owned by National Bank of Australia, since it failed to buy 316 branches from Royal Bank of Scotland in October.
Security job for former Met chief
The senior policeman at the centre of the News of the World phone hacking investigation is now working on corporate fraud cases for a security company that advised on the Royal Wedding. John Yates, dubbed "Yates of the Yard", who led Scotland Yard's counter-terrorism unit, was involved in a string of high-profile probes.
Independent on Sunday
Huge windfall from 4G deposits
The Government's auction of the 4G radio spectrum will earn it a multi-million-pound windfall from interest on the huge deposits of bidders. The seven bidders must deposit 50 per cent of their maximum first bid with Ofcom to qualify to remain in the process. Bidders have each had to deposit at least £1.3bn with the regulator.
Mail on Sunday
Banks' mis-selling bill to top £1.5bn
The cost of compensating businesses for the mis-selling of complex derivative products is to double to more than £1.5bn across the UK's major banks. At least one of the "Big Four" banks is poised to increase its provision for the sale of interest rate swaps to small and medium firms by more than twofold.
Al Gore in $30m Apple windfall
Al Gore, the former US vice-president, has added nearly $30m (£19m) to his burgeoning wealth after a lucrative share deal with Apple. He triggered a share package that he was given by Apple founder Steve Jobs. In 2003, Mr Gore was given the right to buy 59,000 shares at $7.475. They now trade at $500.
Chemring's boss to unveil plans
Defence contractor Chemring has been through it all – a collapse in demand, a new chief executive, takeover talks that came to nothing and a share price that has been travelling in the wrong direction. New broom Mark Papworth will present his strategic plan at the results on Thursday.
Fresnillo aims to shine after woes
Mexican silver miner Fresnillo happily nestles in the benchmark index alongside Russians, Kazakhs, South Africans and Ukrainians. Tomorrow it will reveal its fourth-quarter output. Its shares were this month hit by a fall in the silver price, and analysts at UBS cut their rating of the stock.
Britvic views to put fizz in results
Investors were unsettled when the Office of Fair Trading decided last week that they needed a bit longer to look at Britvic and AG Barr's £1.4bn merger. It now has until 13 February to decide. Britvic will on Wednesday post first-quarter trade, and investors will hope the pain caused by its Fruit Shoot recall is behind it.
Anglo American's strategic drive
There is a new boss and a new strategy at mining giant Anglo American. Chief executive Mark Cutifani will start in April but Anglo has already embarked on a plan. It has outlined ideas for a strategic review of its South African platinum mines. The mining group will update on production on Friday.
- 1 Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 #Teamnigella: It’s the only side to be on
- 5 Christmas comes early: Justin Bieber is 'retiring from music'