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The Business Matrix: Saturday 19 October 2013
Byron burgers fetches £100m
Byron, the upmarket burger chain favoured by Chancellor George Osborne (pictutred) the night before the Spending Review, has been sold by Cinven for £100m. The private equity buyer Hutton Collins is also an investor in the Loch Fyne and Wagamama chains.
Wonga snaps up Germany's BillPay
Wonga is buying Germany's second-biggest online payment firm, BillPay. The deal price – which was not revealed – will treble Wonga's revenues and let it portray itself as a "broad-based, digital-finance group" rather than just a payday lender.
Morgan Stanley back in the black
Morgan Stanley moved back into the black in the third quarter, beating analysts' expectations with net income of $888m (£549m) against a $1bn loss a year ago. The Wall Street bank was bolstered by higher income from equities sales and trading.
Google shares hit record $1,000 high
Shares in Google hit a record high above $1,000 yesterday after the internet search giant reported a surge in mobile and video advertising that helped lift its quarterly sales by23 per cent. The shares opened up 13 per cent at $1,007 on Nasdaq.