The Business Matrix: Tuesday 17 September 2013


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The Independent Online

Coutts overtakes RBS for assets

Coutts has overtaken Barclays as the largest wealth manager in the UK by assets under management. Coutts, a subsidiary of Royal Bank of Scotland, has £51.7bn under management against Barclays' £50.2bn, said wealth management publisher PAM. Boss Michael Morley said it was because of improved service and client dialogue.

UKTV celebrates record revenues

UKTV, the owner of the Dave, Watch, Yesterday and Good Food televison channels, has announced record revenues of £262m for 2012, yielding an operating profit of £71m. Furthermore, the group, led by chief executive Darren Childs, said it is on course to invest £110m in programming like Saving Hope, left, this year.

PwC's developer audit investigated

PwC became the latest "Big Four" accounting firm to fall into the sights of the UK's industry watchdog yesterday as its auditing of the property developer Berkeley came under the spotlight. The Financial Reporting Council is investigating whether PwC was independent when auditing Berkeley in the year to 30 April 2012.

Rio's Albanese joins Vedanta

Tom Albanese, the former Rio Tinto chief executive, has returned to the mining industry, less than a year after quitting the FTSE 100 company as it wrote off £9bn. He is joining Vedanta Resources in an advisory role that will see him be "actively involved in developing the company's strategy, policies and growth objectives".

Garden Centre ready for growth

The Garden Centre Group, which has 132 centres under the Blooms, Country Gardens and Wyevale brands, has acquired seven more sites at Stourbridge, Ivybridge, Bristol, Huntingdon, Wolverhampton, Coleshill and Shrewsbury in a deal with Louis Delhaize, which also owns France's leading chain Truffaut.

Levin looks for a bigger fish to fry

David Levin has resigned as chief executive of the events and information group UBM, prompting speculation he wants a bigger job. "I feel it is the right time to look for my next challenge," said Mr Levin, 51, who will leave by next July. Chairman Dame Helen Alexander will lead the search for his successor.

Taverns chain extends credit

The Lancashire-based pubs operator Amber Taverns has extended its credit facility with Lloyds Bank by £5m to £27.5m.It is looking to increase its existing portfolio of 86 pubs to about 120 across northern England, the Midlands and North Wales by 2016.

Atkins recruits 400 youngsters

The design and engineering giant Atkins has taken on one of the largest-ever groups of young people in its 75-year history, with more than 400 graduates and apprentices joining its UK business. Many of the new recruits are working in the energy and aerospace divisions.

Frozen food trader sees profits soar

Cook Trading, which makes and sells food for freezers, saw profits rise by more than a third in the year to the end of March. It posted a 36 per cent increase in profits to £1.8m, with turnover up 20 per cent to £32m, according to its annual accounts.

Ryanair in 10-year deal with Stansted

Ryanair has signed a 10-year deal with Stansted that it says will increase passenger numbers to the airport by half to more than 20 million. More than 13.2 million people flew with Europe's biggest discount airline to or from Stansted last year.