The Business Matrix: Tuesday 3 June 2014


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The Independent Online

World Cup exit could cost pubs

The sooner England get knocked out of the World Cup – they play Italy in their opening match on 14 June – the harder shares in pub chains will fall, according to research. With England’s expectations at their lowest level for years, shareholders may need another heatwave, according to share registrar Equiniti.

Glaxo partners up for cancer drug

GlaxoSmithKline began a collaboration with Adaptimmune to develop cancer medicines that would bolster a type of white blood cell key to the body’s own defenses. Glaxo will pay more than $350m over the next seven years if the collaboration is successful, Adaptimmune, a biotechnology company based near Oxford, said.

Abe reveals plan for growth boost

Japan will adopt a new corporate governance code, promote technology from service-sector robots to hydrogen stations for cars and court private investment for infrastructure, according to a draft plan of Prime Minister Shinzo Abe’s growth strategy. The reforms will form the basis of Abe’s update due this month.

UBS faces further probes in Belgium

Swiss banking giant UBS is being investigated over suspected money laundering in Belgium, prosecutors announced today. “Nobody has been charged yet but an investigation into money laundering and organised crime has been started,” they said. UBS said it was not aware of the investi gation and cannot comment.

St Modwen hails booming demand

Developer St Modwen cheered a “sustained improvement” in property markets amid demand for its land from builders. The company, which made a planning application for the redevelopment of the New Covent Garden Market site last month, said builders were snapping up land to speed up sales.

Imperial raises £150m for studies

Imperial Innovations announced it is raising up to £150m, as it said City investors want to back research from the “Golden Triangle” of universities in London, Cambridge and Oxford. The AIM-listed firm invests in intellectual property and looks to sell it in the commercial sector.

Airlines struggle with regulation

European airlines are being “burdened by high regulatory and infrastructure costs”, according to the International Air Transport Association. The European region is expected to generate a net airline profit of £1.64bn this year, which represents only £1.93 per passenger.

Dai-ichi closes in on deal for rival

Japanse insurance giant  Dai-ichi Life is closing in on US rival Protective Life in a deal that could be worth more than $5bn (£3bn). It would be the latest overseas acquisition by Japan’s insurers, who are buying foreign assets to offset weak domestic demand.

US rules to cut  use of coal power

US leaders have proposed strong new rules targeting coal-burning power plants in an effort to curb global warming.

The Environmental Protection Agency’s Clean Power Plan seeks to cut carbon emissions by 30 per cent by 2030.

Rethink required to finish job

A fundamental change in mindset is needed from Government and business leaders to remove the last barriers to equality, according to the Women’s Business Council, despite there being more women in jobs than ever before.