The Business Matrix: Saturday 23 March 2013


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The Independent Online

Kennel Club deal sets tails wagging

The Kennel Club has struck a deal with British Land over its Mayfair home that will keep it in Pedigree Chum for years to come. The Crufts organiser is moving from its headquarters at Clarges Street to a new office to be built nearby, and the agreement is a step forward for British Land's planned redevelopment of theClarges Street premises.

Schroders and Cazenove to merge

Two of the oldest names in the City look set to merge after fund manager Schroders said it is considering a takeover of its smaller rival Cazenove Capital. The deal could mean huge windfalls for current and former staff involved when it demerged from JPMorgan Cazenove in 2005. Schroders manages £212bn of funds and Caz £18.7bn.

Premier pay deal for new food boss

Gavin Darby, the man tasked with turning around the Oxo-to-Bisto maker Premier Foods, is in line for a pay packet worth up to £4.7m this year. As well as a £700,000 salary the new chief executive could get a cash-and-shares bonus of up to £1.05m. He also gets shares worth up to £2.8m, including deferred stock in a long-term incentive plan.

BP investors to get $8bn share fillip

BP has unveiled plans to return $8bn (£5bn) to investors after completing the sale of its troubled TNK-BP Russian joint venture. The payment will be made through a serious of share buybacks intended to recompense BP investors for the profits that were lost as a result of the sale of its 50 per cent stake in TNK-BP to Russia's Rosneft.