The Business Matrix: Tuesday 14 April 2015


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The Independent Online

Halfords’ Findlay heads for easyJet

Halfords finance director, Andrew Findlay, is switching from wheels to wings after being poached by low-cost airline easyJet. Findlay, who has been with the car-parts-to-bike seller since 2011, will replace Chris Kennedy, who is leaving easyJet to be chief finance officer at chip designer ARM Holdings.

Deloitte MG Rover fine slashed

Deloitte has been fined £3m by the Financial Reporting Council for its role in the MG Rover collapse 10 years ago. The firm was originally fined £14m, with former partner Maghsoud Einollahi hit by a £250,000 penalty and a three-year ban from working in the City. Einollahi’s ban has now been overturned and his fine lowered.

Thompson to take the chair at 3i

3i, Britain’s oldest private equity firm, has appointed Simon Thompson, currently chairman of Tullow Oil and a non-executive director at Rio Tinto, as its new chairman. He will replace Sir Adrian Montague at the annual meeting in June. Sir Adrian said: “I am confident I am leaving the company in very good hands.”

New direction for Wincanton’s Born 

The boss of logistics group Wincanton yesterday quit the firm after six years in charge to take on a new job outside the sector, but has not yet announced what it is. Eric Born will be replaced by finance director Adrian Colman. The group provides services for supermarkets including Sainsbury’s and Waitrose.

Australia hit by falling ore prices

Australia’s Finance Minister has cut forecasts for the country’s revenues by A$25bn (£13bn) because of falling iron ore prices. Joe Hockey, the Treasurer of Australia, said that he will base next month’s budget on an iron ore price of just $35 a tonne, down from the current price of $47 a tonne.

Chinese exports plunge 14.7%

Chinese exports fell far more than expected in March, prompting hopes that Beijing will take steps to stimulate growth. Exports dived by 14.7 per cent last month, with a 12.7 per cent drop in imports. “It’s a very bad number...  much worse than expectations,” said Louis Kuijs of RBS in Hong Kong.