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

Recruitment Genius: Office / Sales Manager

£22000 - £32000 per annum: Recruitment Genius: Established and expanding South...

Recruitment Genius: Administrative Assistant / Order Fulfilment

£14000 per annum: Recruitment Genius: An exciting opportunity to join a thrivi...

SThree: Trainee Recruitment Consultant

£18000 - £23000 per annum + Uncapped OTE: SThree: Trainee Recruitment Consulta...

SThree: Trainee Recruitment Consultant

£18000 - £23000 per annum + Uncapped OTE: SThree: Trainee Recruitment Consulta...

The Business Matrix: Wednesday 31 July 2013

Profits down a fifth at Drax 

The coal-fired power producer Drax said underlying earnings slumped 22 per cent to £120m in the first half of the year, driven lower by the Government’s move to tax carbon emissions. The firm, based in Selby, North Yorkshire, also blamed the fall on the cost of switching its power output from coal towards biomass.

Hargreaves hires PwC to do books 

Hargreaves Lansdown has dumped Deloitte as its auditor after seven years and appointed rival “big four” accountant PricewaterhouseCoopers following a “rigorous” tender process. But the broker warned that plans to reform the market are unlikely to break the stranglehold of the leading four accountants anytime soon.

Prince George boosts pizza sale

Domino’s claimed the royal baby’s birth boosted sales of its pizzas. The firm, which posted a 14 per cent rise in half-yearly sales,  said: “As Prince George made his appearance, we saw a 20 per cent sales jump versus the previous week, and a 12 per cent rise on the year before. A lot of people watched on TV and wanted someone else to cook.”

US boost for set-top box firm

Set-top boxmaker Pace upped its full-year profit guidance after delivering a 57 per cent jump in underlying earnings to £62.9m in the first half of the year, on revenues 31 per cent higher. The group said growth was boosted by demand in North America, which now accounts for nearly two thirds of all revenues.

Deutsche shrinks to boost capital

Deutsche Bank has warned it will face hundreds of millions of euros in costs for litigation and compliance with new bank rules after reporting weaker-than-expected earnings. The German banking giant plans to cut its balance sheet by 20 per cent, or €250bn, to meet new regulations on capital.

Eurozone morale at 15 month high 

Economic morale in the Eurozone hit a 15-month high in July, further lifting hopes that the 17-member single currency bloc will pull out of recession in the second half of the year. The European Commission’s economic sentiment index rose to 92.5 points in July – its highest since April 2012.

Mining downturn weighs on Weir

The Glasgow-based engineering firm Weir saw pre-tax profits slide 14 per cent to £193m in the first half of the year as demand for mining equipment slowed. But the fall was better than feared, while the group also said it expected revenues and profits to improve in the second half.

Spain on track to grow this year

Spain’s two-year economic slump continued between April and June with a 0.1 per cent decline, but the latest fall was much shallower than the first three months of 2012, when the economy shrank 0.5 per cent. The country is expected to return to growth later this year.

Smartphones lift Wolfson profits 

Wolfson Microelectronics narrowed interim losses by 9 per cent to  £5.7m after a 32 per cent surge in revenues. The audio chip maker said growth in demand was continuing to be driven by the booming smartphone and tablet market.

Tullett Prebon hit by legal fees 

Subdued financial markets combined with higher regulatory and legal fees pushed down profits at broking giant Tullet Prebon in the first half of the year. Profits slipped 5 per centto £62.8 m on revenues 3 per cent lower at £440m.

Latest stories from i100
SPONSORED FEATURES
Career Services

Day In a Page

Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones