Today's letter from the Editor
The Business Matrix: Tuesday 22 January 2013
Sales climb at car dealer HR Owen
Luxury car seller HR Owen announced yesterday that a strong performance by Rolls-Royce and Bentley showrooms towards the end of the year meant 2012 profits will beat forecasts. The group refurbished and put a new team into its Berkeley Square Rolls and Bentley showroom over the summer, which boosted sales.
Stelios flogs part of easyJet stake
EasyJet's founder, Sir Stelios Haji-Ioannou, and his family have sold more than £5m-worth of shares, 1 per cent of their 37 per cent holding, and warned the board of the budget airline that they will sell the rest of their stake if it places a large aircraft order. Sir Stelios said he wanted to "send a clear message to our directors".
New supermarket ombudsman
The first ombudsman designed to crack down on the big supermarkets bullying suppliers in the £163bn grocery sector has been named by the Government. Christine Tacon, who ran the Co-operative group's farming business for 11 years, will have the power to fine the UK's 10 biggest supermarkets, including Tesco and Asda.
Travelzest chiefs' buyout rejected
The board of Travelzest, the company which used to organise nudist holidays, has rejected a management buyout. The travel group, whose brands include holiday.co.uk and two Canadian holiday businesses, had been considering selling the Canadian businesses to the chief executive, Jonathan Carroll, and finance director, Adrian Cobbold.
Santander denies Clydesdale talks
Santander has denied that it is in talks over buying some 300 branches of Clydesdale and Yorkshire Bank from their owner National Australia Bank. A UK spokesman for Spanish-owned Santander said it is focused on organic growth and there have been no discussions with NAB over a £2bn deal.
Moscow Exchange allows outsiders
The Kremlin's bid to stop Russian companies floating on the London Stock Exchange was boosted yesterday after Moscow Exchange said it will allow outside investors to buy shares in it which will only be traded on its own market. Russian President Vladimir Putin is keen to stop the drain of equity.
UK considers nuclear asset sale
Britain is considering a sale of its stake in Urenco, the nuclear fuel producer formed by the British, German and Dutch governments in the 1970s, a UK Government spokesman said yesterday. He said the Government was discussing its options with Urenco's other shareholders.
Spanish banking workers to strike
Workers at three of Spain's bailed-out banks will stage strikes in coming weeks as they fight mass layoffs, unions said yesterday. Workers from Bankia, Banco de Valencia and NovaGalicia Banco will strike on 6 February and hold partial strikes before then.
Abu Dhabi firms plot mega merger
Abu Dhabi's two biggest property firms have agreed a state-backed merger to create a business with $13bn (£8.2bn) of assets. The tie-up between Aldar Properties and Sorouh Real Estate creates one of the largest property firms in the Middle East.
Profits soar at Portmeirion
Pottery manufacturer Portmeirion said that after a strong Christmas, sales for the whole of 2012 had risen by 3 per cent to at least £55m. That should ensure it hits City forecasts of pre-tax profits up from £6.3m to £6.7m for the year.
- 1 Man and woman arrested on suspicion of conspiracy to murder victim of Woolwich machete attack, named as Drummer Lee Rigby
- 2 'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
- 3 Grace Dent: I’m not sure how these people can avoid being called ‘bigots’. And the more ‘civilised’, the worse they are
- 4 Woolwich murder: They killed, then they performed - these men should be starved of our attention
- 5 Woolwich attack: The EDL will seek to exploit this evil crime for their own evil ends
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