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The Business Matrix: Saturday 22 February 2014


BA owner flies back into the black

iag, the owner of British Airways, flew back into the black last year after slashing losses at its Spanish airline Iberia. Boss Willie Walsh also revealed he was paid a £1.3m bonus for 2013. He is donating his 3 per cent pay rise to Comic Relief.

Pearson shares hit three-year low

Pearson’s shares crashed nearly 6 per cent to a three-year low of 1,013p after the education and media giant warned profits will be sharply lower again this year and suggested there will be little respite until 2015. Profits fell 2.3 per cent to £391m last year.

Bankruptcy for Bitcoin exchange

One of the largest Bitcoin exchanges has filed for bankruptcy protection and warned it may have lost all of the virtual currency stored on the platform. Mark Karpeles, the head of Mt Gox, blamed “a weakness in our system” for the collapse.

Hutchison doubles profit to £207m

Hutchison Whampoa’s mobile network, Three, said it more than doubled operating profit  to £207m last year from £101m in 2012 after it added 565,000 new customers. It said all of  its customers were now on its 4G network.