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

Recruitment Genius: Junior Web Developer

£16000 - £20000 per annum: Recruitment Genius: This company is a world leader ...

Recruitment Genius: Telesales Executive - OTE £25,000

£13000 - £25000 per annum: Recruitment Genius: Would you like to be part of a ...

Recruitment Genius: 1st Line Technical Support Engineer

£19000 - £23000 per annum: Recruitment Genius: This IT and Telecoms company ar...

Recruitment Genius: Assistant Manager - Visitor Fundraising

£23000 per annum: Recruitment Genius: The Visitor Fundraising Team is responsi...

The Business Matrix: Wednesday 9 February 2011

Phoenix puts Clive Bannister in top job

The zombie insurance fund manager Phoenix has named Clive Bannister, left, as chief executive, replacing Jonathan Moss. Mr Bannister, who is the son of the four-minute mile athlete Sir Roger Bannister, used to run HSBC’s private bank and insurance business.

Mittal pays himself $478m dividend

Britain’s richest man Lakshmi Mittal paid himself a $478m (£297m) dividend yesterday from ArcelorMittal. The steel group, of which Mittal owns 41 per cent, posted a $780m loss in the final quarter of 2010, but made a $2.9bn profit for the year.

Bad debts rise for Clydesdale & Yorks

The Clydesdale and Yorkshire banks have seen bad debts rise after UK economic recovery faltered at the end of 2010. Owner National Australia Bank said the business continued to “demonstrate resilience” and was on track to deliver its two-year pledge to advance £10bn loans by October.

UBS returns to profit after four years

UBS, the Swiss finance giant, was finally able to report a return to profit yesterday, four years after its last period in the black, but said it still planned to cut the bonuses paid to bankers. It is also continuing its policy of not paying a dividend to shareholders. UBS made a Sfr7.2bn (£4.7bn) profit last year, against Sfr2.7bn loss in 2009.

Sour note for Warner Music

Sales at Warner Music Group fell by more than expected in the three months to 31 December, pushing it to an $18m (£11m) loss. The world’s third-largest music company declined to comment on recent reports that it had put itself up for sale while simultaneously exploring the possibility of buying smaller rival EMI.

High gas prices boost BG profits

The oil and gas explorer BG posted a 13 per cent rise in fourth-quarter earnings to $1.1bn (£680m), lifted by high gas prices. The group also said production was set to rise by 7 per cent a year until 2020. Full year earnings came in at $4bn.

Tinned food names sold to Premier

Premier Foods has sold it canned grocery business – which includes such household brands as Crosse & Blackwell and Fray Bentos, as well as factories in Lincolnshire and Cambridgeshire – to Princes for £177.4m. Princes, which has grown from being an importer of canned fish, has also secured a long-term licence to make products such as baked beans and canned pasta under the Branston and Batchelors brands.

WH Smith buys 22 British Bookshops

WH Smith bolstered its high street estate yesterday with the acquisition of 22 stores from the administrator of British Bookshops and Stationers. The retailer paid just over £1m for the outlets. British Bookshops started life in Sussex in 1938 but went into administration in January. The recovery firm Zolfo Cooper said it was pursuing options for the remaining 29 stores, which have all remained open.

Unionto re-ballot BA cabin crew

The union representing British Airways cabin crew will re-ballot its members over possible strike action after it admitted a recent vote was vulnerable to being challenged as legally invalid. Cabin crew voted last month to hold further strikes but BA argued the ballot was unlawful. Unite said it would hold another vote on taking industrial action “within the next 10 days or so”.

Copper-bottomed gains at Xstrata

Xstrata beat expectations as it posted a 75 per cent rise in profits on soaring metal prices such as copper and pledged a 50 per cent boost in volumes by the end of 2014. The Anglo-Swiss miner, which is listed on the FTSE 100 index, saw profits leap to $7.7bn (£4.8bn) in 2010, said an overhaul the previous year paid off.

Another Russian float in difficulty

The Russian pump manufacturer HMS Hydraulic Machines & Systems has slashed the price and size of its London listing, casting further doubt on the chances of a smooth ride for other planned Russian share sales. HMS’s struggle to get over the line came days after the coking coal and pig iron producer Koks cancelled its $520m (£323m) float, citing market conditions.

Cars drive German export success

German luxury car makers provided clear evidence that they are driving the country’s dramatic export boom yesterday after announcing record January sales figures. BMW said deliveries were up 28 per cent on a year ago, while its rival Audi reported year-on-year sales increases of 23 per cent.

Rio Tinto predicts demand doubling

A senior executive at Rio Tinto predicted the demand for metals such as iron, copper and aluminum would double in less than two decades. The comments from the head of the miner’s diamond and minerals unit, came just days before Rio’s full-year results, which are expected to show a bumper rise in profits last year.

US inquiry clears Toyota throttles

A10-month US investigation has found no link between electronic throttles and unintended acceleration in Toyota vehicles. The world’s largest car maker also lifted its annual forecasts after better than forecast sales, but a heavy reliance on exports is expected to keep it a laggard as long as the yen stays strong.

Latest stories from i100
SPONSORED FEATURES
Career Services

Day In a Page

The Silk Roads that trace civilisation: Long before the West rose to power, Asian pathways were connecting peoples and places

The Silk Roads that trace civilisation

Long before the West rose to power, Asian pathways were connecting peoples and places
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled

The honours that shame Britain

Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled
When it comes to street harassment, we need to talk about race

'When it comes to street harassment, we need to talk about race'

Why are black men living the stereotypes and why are we letting them get away with it?
International Tap Festival: Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic

International Tap Festival comes to the UK

Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic
War with Isis: Is Turkey's buffer zone in Syria a matter of self-defence – or just anti-Kurd?

Turkey's buffer zone in Syria: self-defence – or just anti-Kurd?

Ankara accused of exacerbating racial division by allowing Turkmen minority to cross the border
Doris Lessing: Acclaimed novelist was kept under MI5 observation for 18 years, newly released papers show

'A subversive brothel keeper and Communist'

Acclaimed novelist Doris Lessing was kept under MI5 observation for 18 years, newly released papers show
Big Blue Live: BBC's Springwatch offshoot swaps back gardens for California's Monterey Bay

BBC heads to the Californian coast

The Big Blue Live crew is preparing for the first of three episodes on Sunday night, filming from boats, planes and an aquarium studio
Austin Bidwell: The Victorian fraudster who shook the Bank of England with the most daring forgery the world had known

Victorian fraudster who shook the Bank of England

Conman Austin Bidwell. was a heartless cad who carried out the most daring forgery the world had known
Car hacking scandal: Security designed to stop thieves hot-wiring almost every modern motor has been cracked

Car hacking scandal

Security designed to stop thieves hot-wiring almost every modern motor has been cracked
10 best placemats

Take your seat: 10 best placemats

Protect your table and dine in style with a bold new accessory
Ashes 2015: Alastair Cook not the only one to be caught in The Oval mindwarp

Cook not the only one to be caught in The Oval mindwarp

Aussie skipper Michael Clarke was lured into believing that what we witnessed at Edgbaston and Trent Bridge would continue in London, says Kevin Garside
Can Rafael Benitez get the best out of Gareth Bale at Real Madrid?

Can Benitez get the best out of Bale?

Back at the club he watched as a boy, the pressure is on Benitez to find a winning blend from Real's multiple talents. As La Liga begins, Pete Jenson asks if it will be enough to stop Barcelona
Athletics World Championships 2015: Beijing witnesses new stage in the Jessica Ennis-Hill and Katarina Johnson-Thompson heptathlon rivalry

Beijing witnesses new stage in the Jess and Kat rivalry

The last time the two British heptathletes competed, Ennis-Hill was on the way to Olympic gold and Johnson-Thompson was just a promising teenager. But a lot has happened in the following three years
Jeremy Corbyn: Joining a shrewd operator desperate for power as he visits the North East

Jeremy Corbyn interview: A shrewd operator desperate for power

His radical anti-austerity agenda has caught the imagination of the left and politically disaffected and set a staid Labour leadership election alight
Isis executes Palmyra antiquities chief: Defender of ancient city's past was killed for protecting its future

Isis executes Palmyra antiquities chief

Robert Fisk on the defender of the ancient city's past who was killed for protecting its future