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The Business Matrix: Thursday 27 December 2012

H&M sales 'not as bad as feared'

H&M yesterday posted some encouraging news for the high street, with the Swedish fashion giant revealing trading last month had not been as bad as feared. The group, which is the second-largest clothing retailer in the world, said like-for-like sales had fallen 1 per cent in November, better than analysts were expecting.

Santander fully absorbs Banesto

Spain's largest bank, Santander, is taking full ownership of its 90 per cent-owned subsidiary Banesto, the latest move in a round of consolidation among the country's lenders. The absorption will cost Santander about €218m (£177m). It will pay a 25 per cent premium to Banesto's closing price on the Madrid stock exchange on Friday.

MoD set for £1bn in radio sell-off

The Ministry of Defence is to raise as much as £1bn with a sell-off of some of the radio spectrum it owns, in a move which should help the public finances, as well as boost the introduction of 4G mobile services. Although about half of the spectrum is used for military purposes, telecoms suppliers are pressing to buy more.

Bupa in £244m dentistry deal

The private healthcare group Bupa has agreed to take over Australia and New Zealand's largest dentistry chain for £244m. Dental Corporation runs 190 clinics in the two countries and employs more than 560 dentists. The move comes after Bupa's announcement in July that it would pump millions into dentistry.

Kingsnorth power station closes

Britain's 1,940 megawatt Kings- north coal-fired power station ceased commercial operations on Monday, and decommissioning work will be completed by the end of March 2013, operator E.ON said.The power station, has closed because of the EU's Large Combustion Plant Directive legislation.

Yen plunges after landslide victory

The yen plunged yesterday as traders bet on a huge expansion in money printing from Japan's central bank in the wake of a landslide election victory for the Liberal Democratic Party. The triumph of former prime minister Shinzo Abe, who is committed to aggressive monetary easing, sent the dollar to ¥84.48.

State bailout for Italian bank

The European Commission has given its preliminary approval to a €3.9bn ($5.1bn) state bailout for Banca Monte dei Paschi di Siena, ending months of uncertainty for Italy's third-biggest lender. The approval is conditional on the bank restructuring.

Probe into CF Arch Cru funds

Financial advisers must contact thousands of people who bought into two Guernsey funds to see if they are eligible for compensation after mis-selling. The Financial Services Authority said up to 800 advisers who recommended the two CF Arch Cru funds should contact clients.

Centamin set to restart mine work

Egypt-focused Centamin said it expected operations at its mine to restart soon, helping the stock recover losses from last week when troubles with government officials disrupted its business. Shares in Centamin jumped 26 per cent to 43.5 pence.

Deutsche Bank names Lambert

Deutsche Bank has named Richard Lambert, the former Bank of England Monetary Policy Committee member, as an adviser, helping the bank to adapt to regulatory changes and guidance on financial markets that have an impact on clients.

Career Services

Day In a Page

Ferguson: In the heartlands of America, a descent into madness

A descent into madness in America's heartlands

David Usborne arrived in Ferguson, Missouri to be greeted by a scene more redolent of Gaza and Afghanistan
BBC’s filming of raid at Sir Cliff’s home ‘may be result of corruption’

BBC faces corruption allegation over its Sir Cliff police raid coverage

Reporter’s relationship with police under scrutiny as DG is summoned by MPs to explain extensive live broadcast of swoop on singer’s home
Lauded therapist Harley Mille still in limbo as battle to stay in Britain drags on

Lauded therapist still in limbo as battle to stay in Britain drags on

Australian Harley Miller is as frustrated by court delays as she is with the idiosyncrasies of immigration law
Lewis Fry Richardson's weather forecasts changed the world. But could his predictions of war do the same?

Lewis Fry Richardson's weather forecasts changed the world...

But could his predictions of war do the same?
Kate Bush asks fans not to take photos at her London gigs: 'I want to have contact with the audience, not iPhones'

'I want to have contact with the audience, not iPhones'

Kate Bush asks fans not to take photos at her London gigs
Under-35s have rated gardening in their top five favourite leisure activities, but why?

Young at hort

Under-35s have rated gardening in their top five favourite leisure activities. But why are so many people are swapping sweaty clubs for leafy shrubs?
Tim Vine, winner of the Funniest Joke of the Fringe award: 'making a quip as funny as possible is an art'

Beyond a joke

Tim Vine, winner of the Funniest Joke of the Fringe award, has nigh-on 200 in his act. So how are they conceived?
The late Peter O'Toole shines in 'Katherine of Alexandria' despite illness

The late Peter O'Toole shines in 'Katherine of Alexandria' despite illness

Sadly though, the Lawrence of Arabia star is not around to lend his own critique
Wicken Fen in Cambridgeshire: The joy of camping in a wetland nature reserve and sleeping under the stars

A wild night out

Wicken Fen in Cambridgeshire offers a rare chance to camp in a wetland nature reserve
Comic Sans for Cancer exhibition: It’s the font that’s openly ridiculed for its jaunty style, but figures of fun have their fans

Comic Sans for Cancer exhibition

It’s the font that’s openly ridiculed for its jaunty style, but figures of fun have their fans
Besiktas vs Arsenal: Five things we learnt from the Champions League first-leg tie

Besiktas vs Arsenal

Five things we learnt from the Champions League first-leg tie
Rory McIlroy a smash hit on the US talk show circuit

Rory McIlroy a smash hit on the US talk show circuit

As the Northern Irishman prepares for the Barclays, he finds time to appear on TV in the States, where he’s now such a global superstar that he needs no introduction
Boy racer Max Verstappen stays relaxed over step up to Formula One

Boy racer Max Verstappen stays relaxed over step up to F1

The 16-year-old will become the sport’s youngest-ever driver when he makes his debut for Toro Rosso next season
Fear brings the enemies of Isis together at last

Fear brings the enemies of Isis together at last

But belated attempts to unite will be to no avail if the Sunni caliphate remains strong in Syria, says Patrick Cockburn
Charlie Gilmour: 'I wondered if I would end up killing myself in jail'

Charlie Gilmour: 'I wondered if I'd end up killing myself in jail'

Following last week's report on prison suicides, the former inmate asks how much progress we have made in the 50 years since the abolition of capital punishment