The Business Matrix: Wednesday 26 June 2013


Edelman PR takes $32m in UK fees

Edelman proved there is plenty of money in public relations as its UK fees income leapt by 26 per cent to £32.4m last year. The US company, the world’s biggest privately owned PR group, has profited from its focus on corporate and consumer work while other City-focused agencies have struggled during the financial downturn.

Northgate plans van rental push

Northgate hopes that cracking the fleet van rental market in London will reverse its fortunes after it reported a 17 per cent fall in full-year profits. Northgate, which rents vans to engineering and distribution companies in Spain, Britain and Ireland, said pre-tax profits fell to £49.5m in the year to April from £59.7m a year earlier.

Arison hands over tiller at Carnival

Micky Arison, the billionaire who masterminded the takeover of P&O’s cruise ship business, has been forced to walk the plank at Carnival. Mr Arison, pictured left, who owns the champion US basketball team Miami Heat, will be replaced as chief executive of the cruise giant, with board member Arnold Donald taking the rudder.

India businesses attack UK ‘bond’

Indian business leaders condemned plans to make visitors to enter the UK pay a £3,000 “security bond”. The idea, which will be piloted from November, was described as “highly discriminatory” by the Confederation of Indian Industry. Home Secretary Theresa May defended the “selective” approach to migration.

Clegg brother’s firm cuts losses

Accsys Technologies, the environmental technology group run by Nick Clegg’s brother Paul, has cut its annual losses by a quarter as demand grows for its treated wood products. The Windsor-based firm’s processes give sustainably grown soft woods the properties of more durable timber for building.

Expats flee from sinking Spain

Spain’s population dropped by just under 114,000 to 46.7 million last year as many of its foreign residents opted to leave in the wake of a five-year economic crisis. The National Statistics Institute said yesterday that a total of 476,748 people left Spain last year while 314,358 moved to the country.

Sun fails to warm up store sales

Better weather this month has done little to imrove retailers’ fortunes. A CBI survey showed sales volumes stagnant in the year to June, hopes of only modest growth. Barry Williams, of the CBI, said: “Family spending power is likely to remain fragile through the summer.”

More high-street names buckle

Two more fashion chains are on the brink of administration after yesterday’s third-quarter rent day forced them to throw in the towel. Internacionale, which has 150 shops, is set to call in Ernst & Young as early as today, while 50-store ModelZone is set to hire Deloitte.

Legal setback for privacy principle

The senior lawyer at the European Court of Justice has said that Google and other search engines should not be responsible when personal data appears on web pages they index – a defeat for the so-called “right to be forgotten” privacy principle.

AirAsia cuts ties with ANA venture

AirAsia, the budget airline run by Tony Fernandez, owner of Queens Park Rangers FC, has cut its ties with All Nippon Airways on the duo’s joint venture in Japan. AirAsia will sell its 49 per cent stake in AirAsia Japan to ANA for ¥2.45bn (£16.3m).