Today's letter from the Editor
Today's Matrices
iJobs Job Widget
iJobs General

Recruitment Genius: Trainee Vehicle Inspectors / Purchasers

£20000 - £40000 per annum: Recruitment Genius: Trainee Vehicle Inspectors / Pu...

Recruitment Genius: Vehicle Broker / Purchaser

£18000 - £45000 per annum: Recruitment Genius: This is an exciting opportunity...

Recruitment Genius: Sales Executive - OTE £45,000

£18000 - £45000 per annum: Recruitment Genius: A Sales Executive is required t...

Recruitment Genius: Call Centre Manager - OTE £50,000

£25000 - £50000 per annum: Recruitment Genius: This innovative online car purc...

The Business Matrix: Thursday 12 June 2014

Strong euro eats into Inditex profit

The strong euro has helped to slice more than 7 per cent off profits at the fashion group behind the Zara label. The Spanish clothing giant Inditex reported a 7.3 per cent fall in net profit to €406m (£327m) for the first quarter, better than forecasts , as sales climbed by 4 per cent to €3.7bn compared with a year ago.

Cost-cutting puts Flybe in the black

Flybe has posted its first  annual profit after four years in the red. Severe cost-cutting helped the budget airline report an annual pre-tax profit of £8.1m – up from a £41.1m loss the previous year. The group is adding new routes including more options out of Birmingham and a return to London City airport in October.

Formal complaint for Baker Tilly

Three and a half years after it launched an inquiry into the auditing of electric vehicles firm Tanfield, the Financial Reporting Council has issued a formal complaint again Baker Tilly and two of its partners, over its “audit of significant balance sheet items in the 2007 financial statements”. In 2008 Tanfield posted losses of £88m.

Diageo secures its brands’ heritage

The drinks giant Diageo has opened the doors to a new £1.5m museum for more than half a million items of drinks heritage from brands such as Johnnie Walker and Smirnoff. The collection, in the village of Menstrie, near Alloa, is curated by a team of professional archivists and includes items dating back over four centuries.

Betfair talks up World Cup hopes

Betfair has predicted that  “literally billions” will be staked on the World Cup on the betting exchange, which allows punters to bet against each other while it takes a commission. The  group, which made £10m on the last World Cup, also said its underlying annual profits rose by 24 per cent to £91m.

Crossrail adviser Hyder takes hit

Annual profits at Hyder Consulting, the engineer advising on the £16bn London Crossrail project, slumped to £5.4m, down from nearly £17m a year ago. Revenues at the company, which warned earlier this year about a hit from delayed projects in Australia, fell by £1.3m to £297m.

Cost savings help at flat WH Smith

WH Smith has said it  continues to trade in line with expectations, with total sales in the first 14 weeks of the second half flat on a year earlier.  Like-for-like sales were down  2 per cent, although cost  savings have been delivered  in line with plan.

Rivals blamed for Lufthansa drop

Lufthansa drastically cut  back its profit targets for the next two years, citing competition from Middle East and  low-cost rivals. Its shares fell  14 per cent after Europe’s biggest-selling airline lowered its earnings forecast to €1bn (£800m) from €1.3bn-€1.5bn.

Essar’s Stanlow refinery for sale

Essar is planning to sell the Stanlow refinery in Ellesmere Port, according to Reuters  last night. The Indian industrial and energy group, which is delisting from the London Stock Exchange, paid Shell $350m for the refinery in 2011.

McCarthy gets more approvals

The retirement housing builder McCarthy & Stone has received 31 planning consents in the past five months, delivering 1,102 units with a forward sales value of £250m. The latest consents include sites in Chichester, Kidlington and Drayton.

Latest stories from i100
Career Services

Day In a Page

Greece says 'No': A night of huge celebrations in Athens as voters decisively back Tsipras and his anti-austerity stance in historic referendum

Greece referendum

Greeks say 'No' to austerity and plunge Europe into crisis
Ten years after the 7/7 terror attacks, is Britain an altered state?

7/7 bombings anniversary

Ten years after the terror attacks, is Britain an altered state?
Beautiful evening dresses are some of the loveliest Donatella has created

Versace haute couture review

Beautiful evening dresses are some of the loveliest Donatella has ever created
No hope and no jobs, so Gaza's young risk their lives, climb the fence and run for it

No hope and no jobs in Gaza

So the young risk their lives and run for it
Fashion apps: Retailers roll together shopping and social networking for mobile customers

Fashion apps

Retailers roll together shopping and social networking for mobile customers
The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate