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The Business Matrix: Tuesday 14 August 2012


Japan feels pain from euro woes

Plunging demand from consumers in the eurozone hit the Japanese economy far harder than expected over the past three months, figures showed yesterday. The world's third-biggest economy grew only 0.3 per cent between April and June – much worse than the first-quarter's 1 per cent growth.

Google to axe Motorola jobs

The 20,000 employees of Motorola Mobility, the smartphone maker, got a taste of life under their new owner, Google, yesterday, when they were told one in five of them would lose their jobs. A third of the company's offices will close, as Google struggles to streamline the business it bought earlier this year.

United shares 'are worth less than $5'

In a fresh blow to Manchester United's already troubled stock market flotation yesterday, a US research team said the shares were worth less than $5 each. That compares with the $14 at which the shares joined the New York Stock Exchange on Friday.

Regulator probes PWC's Tenon role

The Accountancy and Actuarial Discipline Board is to investigate auditing giant PricewaterhouseCoopers over its role at RSM Tenon the much smaller accountant which found "black holes" in its accounts. Tenon said it will co-operate fully.