Today's letter from the Editor
Today's Matrices
iJobs Job Widget
iJobs General

Sauce Recruitment: Retail Planning Manager - Home Entertainment UK

salary equal to £40K pro-rata: Sauce Recruitment: Are you available to start a...

Ashdown Group: Front-End Developer - London - up to £40,000

£35000 - £40000 per annum: Ashdown Group: Creative Front-End Developer - Claph...

Recruitment Genius: Product Quality Assurance Technologist - Hardline & Electric

£18000 - £24000 per annum: Recruitment Genius: The role in this successful eco...

Ashdown Group: QA Tester - London - £30,000

£28000 - £30000 per annum: Ashdown Group: QA Tester - London - £30,000 QA Tes...

The Business Matrix: Wednesday 20 April 2011

Sunnucks to head new Gap division

Gap is combining its international divisions under one leadership structure run from the UK. The division will be led by its president of international, Stephen Sunnucks. The US clothing retailer will also take its Old Navy brand worldwide in 2012.

Grosvenor £395m back in the black

Grosvenor, the property group owned by the Duke of Westminster returned to profit last year. The privately owned business, which owns properties in London’s Mayfair and Belgravia, said pre-tax profits were £395m, up from a loss of £239m the year before.

Gunther will take charge of N&P

Norwich & Peterborough Building Society has appointed Anne Gunther as its chief executive. Ms Gunther was chief executive of Standard Life Bank, the life insurer’s foray into mortgages and savings until 2009. She also chaired the Council of Mortgage Lenders.

Shareholder sues Buffett and board

Warren Buffett and the Berkshire Hathaway board are being sued by a shareholder after it emerged that David Sokol, a former executive at the investment giant, traded in the stock of a firm before it was bought by Berkshire. Mr Sokol is also named in the suit.

Character shows strength in profits

The toys and games designer Character Group reported a 78 per cent surge in pre-tax profits to £6.6m in the six months to the end of February. The company, which includes Peppa Pig merchandise and Doctor Who figurines among its products, saw revenues rise 35 per cent to £58.1m in the same period.

SAB Miller’s beer volumes up 3%

The beer maker behind Peroni and Grolsch reported a three per cent rise in beer volumes in the first three months of 2011. SAB Miller also said that price rises had helped to push its annual revenues five per cent higher.

Greece pays a high rate for £1.5bn loan

Greece managed to borrow €1.65bn (£1.5bn) in three-month notes on the debt markets yesterday, but was forced to pay a high rate of interest amid investor fears that its debt is unsustainable. Although the Greek government insists that it will repay its debt in full, most economists, and an increasing number of politicians, expect a restructuring, with the German government adviser Clemens Fuest saying that it is inevitable.

Gold futures hit record $1,500 high

Gold futures hit a record high above $1,500 an ounce yesterday while silver surged on a combination of dollar decline, crude oil gains and worries about sovereign debt problems in Europe. Bullion rose to a record for a second straight day on market jitters after the ratings agency Standard & Poor’s on Monday revised the credit outlook of the US to “negative” from “stable”. Spot gold was up 0.11 cents to $1,495.19 an ounce.

Burberry revenues up 32% at £390m

Burberry is planning to expand its store space by more than 10 per cent after a bumper finish to its financial year. The 155-year-old maker of raincoats and handbags posted a 32 per cent surge in revenues to £390m in the three months to March, which it said would result in full-year profits at the top end of expectations. It said that it would increase store space by 12 to 13 per cent in 2012.

UK Coal suffers a second £100m loss

The UK’s biggest coal producer has admitted to “deep-rooted problems” after it recorded losses of more than £100m for the second year in a row. UK Coal, which has three deep mines in the Midlands and Yorkshire, has already made £12m savings through pay and head-office cuts while it works on a full strategic plan that it hopes will help to identify a viable business model.

Promethean hails revenues of £41.9m

Interactive whiteboard maker Promethean World reported a sharp fall in revenues to £41.9m in the three months to the end of March from £53.9m. The group said first-quarter interactive display system revenues were £37m and learner response system revenues £5.3m, a fall of 20 per cent and 35 per cent respectively.

Seagate will buy Samsung division

Seagate Technology is to buy Samsung Electronics’s loss-making hard-disk-drive business for $1.4bn (£858m) as the US group looks to combat rival Western Digital Corp and arrest price wars that have damaged the industry. The deal comes a month after Western Digital sought to buy the HDD unit of Hitachi for $4.3bn.

Mortgages ‘will be scarce until 2014’

Homebuyers are likely to have to wait until 2014 before it becomes easier to obtain mortgage finance, a report suggests. The market analyst Datamonitor said lenders looked set to continue rationing mortgages this year because they still had problems raising funds. Mortgage advances have fallen more than 60 per cent since 2007.

More buyers sign up with agencies

Interest in the housing market rose sharply last month as potential buyers looked for pre-Easter bargains, according to the National Association of Estate Agents. The number of new buyers registered with estate agents rose to an average per branch of 290 in March from 268 in February, according to the NAEA.

Latest stories from i100
Career Services

Day In a Page

HIV pill: Scientists hail discovery of 'game-changer' that cuts the risk of infection among gay men by 86%

Scientists hail daily pill that protects against HIV infection

Breakthrough in battle against global scourge – but will the NHS pay for it?
How we must adjust our lifestyles to nature: Welcome to the 'Anthropocene', the human epoch

Time to play God

Welcome to the 'Anthropocene', the human epoch where we may need to redefine nature itself
MacGyver returns, but with a difference: Handyman hero of classic 1980s TV series to be recast as a woman

MacGyver returns, but with a difference

Handyman hero of classic 1980s TV series to be recast as a woman
Tunnel renaissance: Why cities are hiding roads down in the ground

Tunnel renaissance

Why cities are hiding roads underground
'Backstreet Boys - Show 'Em What You're Made Of': An affectionate look at five middle-aged men

Boys to men

The Backstreet Boys might be middle-aged, married and have dodgy knees, but a heartfelt documentary reveals they’re not going gently into pop’s good night
Crufts 2015: Should foreign dogs be allowed to compete?

Crufts 2015

Should foreign dogs be allowed to compete?
10 best projectors

How to make your home cinema more cinematic: 10 best projectors

Want to recreate the big-screen experience in your sitting room? IndyBest sizes up gadgets to form your film-watching
Manchester City 1 Barcelona 2 player ratings: Luis Suarez? Lionel Messi? Joe Hart? Who was the star man?

Manchester City vs Barcelona player ratings

Luis Suarez? Lionel Messi? Joe Hart? Who was the star man at the Etihad?
Arsenal vs Monaco: Monaco - the making of Gunners' manager Arsene Wenger

Monaco: the making of Wenger

Jack Pitt-Brooke speaks to former players and learns the Frenchman’s man-management has always been one of his best skills
Cricket World Cup 2015: Chris Gayle - the West Indies' enigma lives up to his reputation

Chris Gayle: The West Indies' enigma

Some said the game's eternal rebel was washed up. As ever, he proved he writes the scripts by producing a blistering World Cup innings
In Ukraine a dark world of hybrid warfare and murky loyalties prevails

In Ukraine a dark world of hybrid warfare

This war in the shadows has been going on since the fall of Mr Yanukovych
'Birdman' and 'Bullets Over Broadway': Homage or plagiarism?

Homage or plagiarism?

'Birdman' shares much DNA with Woody Allen's 'Bullets Over Broadway'
Broadchurch ends as damp squib not even David Tennant can revive

A damp squib not even David Tennant can revive

Broadchurch, Series 2 finale, review
A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower: inside the mansion of Germany's 'Bishop of Bling'

Inside the mansion of Germany's 'Bishop of Bling'

A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower