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The Business Matrix: Saturday 15 March 2014

Builders ride the January storms

Builders weathered the wettest January in 250 years, construction growing 1.8 per cent in the month. But the UK's goods trade gap with the rest of the world opened more than expected to £9.8 billion from £7.7 billion in December.

Ruia brothers make Essar move

The billionaire Ruia brothers tabled a formal 70p a share offer for the 22 per cent of Essar Energy they don't already own yesterday, minutes before a Takeover Panel deadline expired at 5pm. Essar shares ended unchanged at 66.55p.

UBS censured over Hibor rates

Hong Kong has censured UBS for trying to manipulate its benchmark interbank lending rate, Hibor. It also emerged yesterday that the Swiss bank boosted its chief executive's pay package by 21 per cent in 2013 to Sfr10.7 million (£7.4 million).

Corbett takes the helm at Numis

The former Railtrack chief executive and Woolworths chairman Gerald Corbett is to take over the chair at the stockbroker and investment bank Numis. Mr Corbett, 62, will succeed Sir David Arculus at the annual meeting in May.

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