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The Business Matrix: Saturday 3 August 2013
Ocado co-founder sells £3.3m shares
Ocado co-founder Jason Gissing has cashed in £3.3m of the online grocer’s shares – his first sale since the company floated at 180p a share three years ago. Mr Gissing, like his two co-founders ex-Goldman Sachs, sold just over one million shares at 310.6p each. He and his family still have nearly 18 million shares.
Inmarsat hit by US defence cuts
Inmarsat, the satellite telecoms group, felt the impact of US defence spending cuts as half yearly profits fell 17 per cent to $185.5m. But it saw growth in the take up of its FleetBroadband terminals, where soldiers in war zones and sailors on ships send emails and go online.
BA owner flying into the black
IAG, the owner of British Airways and Iberia, returned to the black after efforts of restructuing the Spanish carrier paid off. The airlines group swung to an operating profit of €245m in the three months to July.
Direct Line profits nearly double
Cost cuts and fewer weather-related claims from customers helped Direct Line all but double profits during the first half of the year. The company, spun out of RBS last year, posted profits of £209m,up for £107m.
- 1 Planes go hybrid-electric in important step to greener flight
- 2 Antonio Martin shooting: Police and protesters clash over teenager's death just five miles from Ferguson, Missouri
- 3 Northern Lights above Britain: Stunning Aurora Borealis illuminates Northumberland sky on Christmas Eve
- 4 British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
- 5 New route to Mars could make manned mission much cheaper and easier