Henrietta Knight: The trainer of Somersby said:

Somersby left flat-footed by revived Gauvain

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 packs a profit

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.

Market Report: Would-be predators put off by Meggitt's many parts

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.

Deal with it: Groupon ponders its future

The discount coupon leader now faces competitors big and small, angry consumers and merchants, and a fickle stock market

Global businesses face a more unstable 2012

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

Growth is contracting, factory bosses warn

Most companies expect fewer orders next year than in 2011, according to manufacturers' body

Cable's review to tackle 'cross-pollination' of boardroom pay

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

SDL to buy Alterian after raising bid

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.

Construction growth slows despite housing boost

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

Strike threat at New York city opera

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.

Breaking news: A new man at Reuters helm

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

Trading scandal-hit UBS replaces risk boss

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 losses widen as it seals new bank deal

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.

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Independent Travel
Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
Burgundy, the River Rhone & Provence
Prague, Budapest and Vienna
Lake Garda
Minoan Crete and Santorini
Prices correct as of 1 May 2015
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