The Business Matrix: Saturday 7 September 2013

Ineos considering refinery closure

Ineos is considering closing its giant Grangemouth refinery in Scotland because of rising costs and a fall in the production of North Sea gas. Jim Ratcliffe, the chemicals-group founder, told the Financial Times the plant was "at a crossroads".

Mackay returns to SABMiller

SABMiller chairman Graham Mackay has returned to work having recovered from surgery he had to remove a brain tumour in April. John Manser, who was acting chairman at the drinks giant, has gone back to being deputy chairman.

Trade deficit hits recovery hopes

Disappointing industrial production figures and a widening of Britain's stubbornly high trade deficit in July put a dampener on rapid-recovery hopes yesterday. Industrial output was flat over the month while the trade gap rose to £9.8bn as exports outside the EU slumped.

Gross profits down at SThree

A recovery in the London and New York banking sectors failed to stop profits falling at recruiters SThree. Third-quarter gross profits fell 2 per cent as a result of fewer permanent placements in Europe, though this was partially offset by an 8 per cent rise in contract positions.