The Business Matrix: Tuesday 23 October 2012


Japan exports hit by China boycott

Boycotts of Japanese goods, such as Toyota (left), in the wake of a diplomatic row with China, sent the nation's exports plunging last month. The dispute over the sovereignty of the Diaoyu islands in the East China sea has seen Japanese carmakers report tumbling sales to China in September, with Toyota's sales slipping by nearly half.

Profits double as Philips quits TV

Royal Philips Electronics, the Dutch maker of electric shavers, light bulbs and medical imaging equipment, saw earnings more than double in the third quarter, thanks to modest growth at all its business lines as well as the disposal of its loss-making television business. Profits rose to €169 million from €74 million a year ago.

Rolls-Royce wins hovercraft deal

Rolls-Royce has won a contract to power the US Navy's future fleet of hovercrafts. Rolls has been selected to build the initial development craft, but said the programme could extend to 73 hovercraft. The hovercrafts will replace the US Navy's current fleet of landing craft over the next 20 years.

G4S wins £250m Oslo contract

G4S, the outsourcing group that failed to provide enough security for the London Olympics, has won a £250m contract to provide security services at Oslo Airport in Norway for six years. The firm has provided more than 750 security staff at the site since 2008.

Anglo threat to striking miners

AngloGold Ashanti, the world's No.3 gold producer, has told striking South African miners to return to work or face dismissal, joining rivals taking an increasingly hard line against labour unrest that has choked off output.

Boots tucks in to Jamie's lunches

The health and beauty specialist Boots has launched TV chef Jamie Oliver's first "on-the-go" lunch range at 100 stores at prime commuter sites across the UK. The "Jamie Does Lunch" range will include sandwiches, wraps, salads and dips.

Senior has a moment of relief

Senior's most important sector, the commercial aircraft market, has offset more challenging conditions in aerospace, military and defence and the European passenger vehicle market, the engineer said yesterday. Profits are in line with expectations and the group said it is well placed.

Higher costs eat into Devro shares

Sausage-skin maker Devro today saw its shares slip by 5 per cent after warning higher material costs and currency movements would cause it to miss City profit expectations this year. The problem is not diving demand for bangers but Devro has seen raw materials prices rise and this will continue into next year.

Megafon delays £10bn UK float

Russian telecom giant Megafon, which is backed by Alisher Usmanov, Arsenal's second biggest shareholder, has delayed its London stock market float. The £10bn company blamed recent merger activity, a review of listing rules by UK regulators, and the "proximity" of its next results.

BoE seeks boss to help Governor

The Bank of England is seeking to take the strain off its new Governor with the appointment of a new chief operating officer when it takes on responsibility for the new Prudential Regulatory Authority next year. Candidates for the role, encompassing responsibility for finance and human resources, are being sought by headhunter Odgers Berndtson,