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The Business Matrix: Saturday 21 September 2013


Public offering for iconic skyscraper

The family which owns the  Empire State Building has  confirmed plans to float the skyscraper, along with 18 other properties in New York. Empire State Realty Trust is aiming to raise $1bn (£624m) from a listing in New York.

Osborne saves on borrowing

The Chancellor is on course to undershoot his £120bn borrowing target by more than £10bn this year as government departments got a grip on spending last month. August’s net borrowing of £13.2bn was £1.3bn below a year earlier.

£8.9m in shares for Trade minister

The new Trade minister, Lord Livingston, has walked away from his old employer BT with 2.6 million shares worth £8.9m. The telecoms giant said it “felt it was appropriate” given the major contribution he has made to BT’s turnaround.

Sharma takes consulting post

The City’s new financial watchdog has lost its second-in-command after the deputy chief executive of the Prudential Regulation Authority, Paul Sharma, quit for a senior role at the consulting firm Alvarez & Marsal.