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The Business Matrix: Monday 28 January 2013

Apple's offshore pile rises by £7bn

Apple swept $11bn (£7bn) into offshore tax havens in the last three months of 2012 as it stock-piled its profits outside the United States — in places such as the British Virgin Islands. The maker of the iPhone and iPad paid only 2 per cent tax on its overseas profits last year by using this legal strategy. Apple has sheltered as much as $94bn from the US tax man.

Bosses who travel have more success

University of Exeter Business School has found managers widely exposed to more than one culture during their formative years – until the age of 23 – are more successful than those that have not. The study looked at more than 2,000 "acquisition decisions" at 561 UK companies and found a link between travel and willingness to make difficult strategic decisions.

Blankfein: media caused tax U-turn

Goldman Sachs's chief executive, Lloyd Blankfein, has admitted that media pressure forced the Wall Street bank to drop its plan to save its British employees millions in bonuses through tax avoidance. "We were very, very influenced by the press, and that's certainly not embarrassing," Mr Blankfein said at the World Economic Forum in Davos.

The Independent on Sunday

Accountants to be grilled by MPs

Tax experts at KPMG, Deloitte, PricewaterhouseCoopers and Ernst & Young are set to be grilled this week by MPs on the Public Accounts Committee about tax-avoidance schemes. It comes in the aftermath of criticism of firms such as Amazon and Google and following David Cameron's demand for companies to pay more corporation tax.

The Mail on Sunday

Rothschild faces Bumi opposition

Nat Rothschild has tabled a proposal to sack 12 of the 14 directors at Bumi, the London-listed Indonesian coal empire he created. But the chief executive, Nick von Schirnding, is expected to unveil a boardroom shake-up this week that he hopes will convince investors that Mr Rothschild's coup is unnecessary.

The Sunday Times

Carney signals prices 'tolerance'

Mark Carney, the incoming Bank of England Governor, has signalled that he is willing to see higher inflation. He said that there were "tolerances" concerning the speed with which inflation would be brought down if the economy were struggling. Economies need to reach "escape velocity", he said.

The Sunday Telegraph

Ryanair benefits from rivals' woes

Ryanair reveals its third- quarter update today, following budget airline rival easyJet's 9.2 per cent quarterly sales rise. Liberum Capital scribes think Ryanair will benefit from the troubles of other weaker players in Europe, and they rate it a buy with a share-price target of €6.

Skyscraper firms scrap it out

British Land is building the Cheesegrater (Leadenhall Building) in the City, and it is now more than half-full with pre-lettings – as is rival Land Securities' Walkie-Talkie (20 Fenchurch Street). Both will be completed next year. British Land will release its third-quarter update tomorrow.

Thirsty for news at United Utilities

The water group United Utilities has been the subject of takeover rumours for months, but traders have been getting thirsty waiting for any bid to emerge. Will the market ease off the takeover speculation on Wednesday, when it will update the City with a trading statement?

Analysts get taste for Tate & Lyle

Sweet-toothed analysts at Berenberg Bank rate the sweetener specialist Tate & Lyle a buy ahead of its trading statement on Friday. Investors have been concerned about sweetener pricing, but Berenberg thinks there is plenty of scope for growth in 2013, and gave it a 950p-share-price target.

Career Services

Day In a Page

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Robert Fisk: No victory for Israel despite weeks of devastation

Palestinians have won: they are still in Gaza, and Hamas is still there
Mary Beard writes character reference for Twitter troll who called her a 'slut'

Unlikely friends: Mary Beard and the troll who called her a ‘filthy old slut’

The Cambridge University classicist even wrote the student a character reference
America’s new apartheid: Prosperous white districts are choosing to break away from black cities and go it alone

America’s new apartheid

Prosperous white districts are choosing to break away from black cities and go it alone
Amazon is buying Twitch for £600m - but why do people want to watch others playing Xbox?

What is the appeal of Twitch?

Amazon is buying the video-game-themed online streaming site for £600m - but why do people want to watch others playing Xbox?
Tip-tapping typewriters, ripe pongs and slides in the office: Bosses are inventing surprising ways of making us work harder

How bosses are making us work harder

As it is revealed that one newspaper office pumps out the sound of typewriters to increase productivity, Gillian Orr explores the other devices designed to motivate staff
Manufacturers are struggling to keep up with the resurgence in vinyl records

Hard pressed: Resurgence in vinyl records

As the resurgence in vinyl records continues, manufacturers and their outdated machinery are struggling to keep up with the demand
Tony Jordan: 'I turned down the chance to research Charles Dickens for a TV series nine times ... then I found a kindred spirit'

A tale of two writers

Offered the chance to research Charles Dickens for a TV series, Tony Jordan turned it down. Nine times. The man behind EastEnders and Life on Mars didn’t feel right for the job. Finally, he gave in - and found an unexpected kindred spirit
Could a later start to the school day be the most useful educational reform of all?

Should pupils get a lie in?

Doctors want a later start to the school day so that pupils can sleep later. Not because teenagers are lazy, explains Simon Usborne - it's all down to their circadian rhythms
Prepare for Jewish jokes – as Jewish comedians get their own festival

Prepare for Jewish jokes...

... as Jewish comedians get their own festival
SJ Watson: 'I still can't quite believe that Before I Go to Sleep started in my head'

A dream come true for SJ Watson

Watson was working part time in the NHS when his debut novel, Before I Go to Sleep, became a bestseller. Now it's a Hollywood movie, too. Here he recalls the whirlwind journey from children’s ward to A-list film set
10 best cycling bags for commuters

10 best cycling bags for commuters

Gear up for next week’s National Cycle to Work day with one of these practical backpacks and messenger bags
Paul Scholes: Three at the back isn’t working yet but given time I’m hopeful Louis van Gaal can rebuild Manchester United

Paul Scholes column

Three at the back isn’t working yet but given time I’m hopeful Louis van Gaal can rebuild Manchester United
Kate Bush, Hammersmith Apollo music review: A preamble, then a coup de théâtre - and suddenly the long wait felt worth it

Kate Bush shows a voice untroubled by time

A preamble, then a coup de théâtre - and suddenly the long wait felt worth it
Robot sheepdog technology could be used to save people from burning buildings

The science of herding is cracked

Mathematical model would allow robots to be programmed to control crowds and save people from burning buildings
Tyrant: Is the world ready for a Middle Eastern 'Dallas'?

This tyrant doesn’t rule

It’s billed as a Middle Eastern ‘Dallas’, so why does Fox’s new drama have a white British star?