Her best horse had been beaten again, and a wild, murky afternoon in the flatlands must have blended fairly seamlessly with her own emotional landscape. But Henrietta Knight did not have to seek far here yesterday to remember how it's an ill wind that blows no good. It was only five days previously, after all, that the horse who had just beaten Somersby dismayed his own connections with a fall at Sandown. Having duly avoided a hard race against Sizing Europe, Gauvain was able to rise from the canvas and win the Betfred Peterborough Chase – and, in the process, at least he confirmed Knight in her suspicion that Somersby nowadays requires a stiffer test of stamina.

DS Smith has posted a 20 per cent rise in first-half pre-tax profits to £42.8m on improved volumes, better selling prices and an acquisition. It expects further volume increases in the second half.

Fears the aircraft-parts maker has fingers in too many pies to become a takeover target helped Meggitt finish in last place on the blue-chip index last night. Disappointed investors left the group 17.1p weaker at 366.4p after Credit Suisse said that, despites frequent bid speculation, the wide variety of its operations were likely to put off any predators.

Political instability and economic uncertainty are set to intensify next year, hitting global firms, says the risk consultancy Control Risks.

If employees sat on the committees that set bosses' pay, we might see a diminution in their remuneration packages, suggests Richard Northedge

As Tom Glocer steps down as CEO, Sean Farrell reads between the lines

New York City Opera declared an impasse yesterday in contract negotiations with unions for its singers and musicians, threatening to present its abbreviated season without them.

Britain's construction sector suffered a relapse during November, new data suggested yesterday, after posting a surprise gain in October.

SDL, the UK translation group, is set to secure beleaguered marketing technology group Alterian after lifting its bid by more than a third to £68.4m.

UBS, the investment banking group hit by a trading scandal in September, has replaced its risk management chief less than a year after she was appointed to the role.

Mouchel's troubles increased yesterday as its losses trebled, sending the shares plunging 27 per cent. The company that turned down a £330m bid last year is now worth close to £14m.

The parent companies of American Airlines and its regional affiliate American Eagle are filing for bankruptcy protection.