The Business Matrix: Thursday 5 June 2014


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T2 touches down without a hitch

Bosses at Heathrow Airport were relieved yesterday as its new £2.5bn Terminal 2 survived its first morning without a hitch. It will open in stages to avoid the chaos in 2008 when Terminal 5 opened and staff struggled to cope with computers and baggage systems. The first of yesterday’s 34 flights, from Chicago, arrived at 5.49am.

OneSavings sets float price at 170p

OneSavings Bank is set to price its London stock market flotation at 170 pence a share, at the bottom of the price range, valuing the business at £413m, according to reports. OneSavings, which is owned by the US private equity fund JC Flowers, had targeted a price range of 170p to 225p, giving it a value of £413m to 530m.

Odyssey recovers $100,000 of gold

The salvage company Odyssey Marine Exploration says recovery efforts are exceeding its expectations at the site of the SS Central America, which sank off South Carolina in 1857. Odyssey, listed on the New York Stock Exchange, has recovered ingots and other gold worth more than $100,000 in 1857 face value from the steamer.

Doctors Chambers seeks investors

A company that has benefited from the trend for ambulance-chasing claims management companies is looking to sell a stake in the business. Doctors Chambers, based in Windsor, Berkshire, provides expert medical advice to law firms, mainly in clinical negligence cases. Now it is seeking outside investors, Sky News reported.

Monitise forks out for a second CEO

The online money transfer specialist Monitise surprised City analysts by recruiting a former Visa executive, Elizabeth Buse, as co-chief executive to work alongside its founder Alastair Lukies. Few companies have two CEOs but shares in Monetise rose 4.3 per cent yesterday.

Shares tumble as Tullett chief quits

Shares in Tullett Prebon fell yesterday as investors digested news that its chief executive was standing down. The City veteran Terry Smith, who has led the inter-dealer money broke since 2006, is leaving to focus on his asset management venture Fundsmith. The shares fell 5.46 per cent to 287.4p.

Cannacord profit soars to C$26m

Stock-market flotations and deals helped to boost Canaccord Genuity in the first quarter. The Canadian banking and financial services company said its profits quadrupled to C$25.9m (£14.2m) over the three months ending 31 March. Assets under management totalled C$30.9bn.

Euronext joins the big boys’ club

Euronext’s London market been approved as a full exchange by regulators, putting it on a par with rivals. It will be able to compete more effectively for listings. Euronext is planning an IPO for three of its markets that could value the company at more than €1.5bn (£1.2bn).

Meddings gives up board post at 3i

Richard Meddings has stepped down as a non-executive director at the private-equity group 3i. He left his previous job as finance director of Standard Chartered in January, having been tipped to replace its boss, Peter Sands, when he leaves.

RPC wraps up 22% increase in profit

RPC Group posted a 22 per cent rise in profits yesterday. The Northamptonshire firm, which makes packaging for Nivea and casings for asthma inhalers, said pre-tax profits were £59m for the year to 31 March, with revenues of more than £1bn.