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The Business Matrix: Tuesday 11 October 2011
Cricketing bible spreads the word
The owner of the cricket bible Wisden is to launch an Indian edition to tap the sport’s fastest-growing market. Wisden’s publisher Bloomsbury, best known for the Harry Potter series, has signed a long-term licensing agreement with the sports marketing group FidelisWorld for Wisden India that also covers Pakistan and North America.
Sellers retreat from market
The number of people putting their homes up for sale fell in September, according to the latest Rics UK Housing Market survey. Around 5 per cent more surveyors reported that the supply of property fell, rather than rose. House prices continued to decline, with 23 per cent more surveyors reporting falls than rises over the last three months.
Montague to retire at Page
Michael Page has announced that Sir Adrian Montague will retire as chairman on 31 December after 10 years on the board and Robin Buchanan, an independent non-executive director, will succeed him. The recruitment firm also reported that UK profit growth has been flat in recent months, as public and banking sector work dried up.
Pets at Home boss to step down
The owner of Pets at Home is looking for a new boss after its chief executive, Matt Davies, announced he will step down next year. Mr Davies has been in charge of the pet food and accessories firm for seven years and has guided the business through two private equity takeovers. The company was bought by KKR in January 2010.
LMS Capital to wind itself up
The investment company LMS Capital is to wind itself up after failing to agree terms on a breakup deal proposed by a group of investors including its chairman Robert Rayne, the son of the London Merchant Securities property tycoon, Lord Rayne. Mr Rayne approached the company last month.
US deals boost YouGov profits
YouGov credited recent acquisitions in the US for a 40 per cent jump in profits to £5.3m in the year to July as sales rose by 27 per cent. The market research firm added it expects good revenue growth in the current year with more to come from the US acquisitions and market share gains elsewhere.
E.ON strikes gas in North Sea
The German energy giant E.ON has made an “encouraging” gas discovery after drilling in the UK’s Tolmount prospect in the southern North Sea. E.ON, which operates the Tolmount licence with Dana Petroleum, said the it was “another important step for our upstream business”.
Guangdong back in Kalahari talks
The Chinese nuclear power generator Guangdong Nuclear Power Corp is back in talks to buy Kalahari Minerals, the biggest shareholder in one of the world's largest uranium projects in Africa. A deal for the London-listed miner could depend, however, on Rio Tinto, which has an 11 per cent stake in Kalahari.
Industrial output beats forecasts
French and Italian industrial output was surprisingly strong in August, boosting prospects for third-quarter growth in the eurozone, although analysts said this only masks underlying stagnation. French output posted a 0.5 per cent monthly increase, while output in Italy leapt by 4.3 per cent.
German exports jump to record
German exports rose 3.5 per cent to their strongest level ever in August, suggesting Europe's bulwark economy remains on a growth path despite weakening expectations. “This is good news, again defying recession worries for the German economy, for the time being,” said ING’s Carsten Brzeski.
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