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The Business Matrix: Saturday 12 October 2013
Caffe Nero ducks corporation tax
Caffe Nero paid no corporation tax for a third year despite making a profit of £21.1m, according to its accounts. It did so by legally routing its operations through its parent in the Isle of Man and using subsidiaries.
Construction fails to build on boom
A house building surge failed to offset a summer blip for the wider building sector as industry output slipped back marginally. The Office for National Statistics said construction output edged 0.1 per cent lower during August.
Gem shares soar on £5m diamond
Gem Diamonds has sold two exceptional stones extracted from the highest diamond mine in the world, sending its shares up 2.5p to 153.5p. Top was a rare, 12.47-carat blue diamond, which fetched $7.5m (£4.7m).
Heathrow flyer numbers soar
Heathrow again packed more passengers into its terminals last month as flyer numbers rose 3.4 per cent to 6.6 million. The average number of passengers per flight rose to 164, up 1.5 per cent on September 2012.
Chemring expects £8m profits drop
The grenade and bomb detector maker Chemring has warned that the US political shutdown could hit its profitability. The firm said the deadlock and production problems were likely to cut operating profits by £8m.
- 1 Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 4 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories