The Business Matrix: Saturday 26 April 2014

Libor lawsuit back on after appeal

A US appeals court has revived a lawsuit against Barclays by shareholders who claimed they lost money because the bank manipulated Libor. The second US Circuit Court of Appeals in New York said a lower court judge was wrong to dismiss the case, saying there was a “plausible claim”.

Gotham fight back against Quindell

Insurance claims specialist Quindell has launched legal action against Gotham City Research, the short seller which published a damaging report on the company’s finances. About £900m was wiped off Quindell’s value on Wednesday as Gotham made a number of allegations, including some about its acquisition policy.

Shoppers increase their use of credit

Shoppers are increasingly turning to borrowed cash, according to figures from the British Bankers’ Association for March, which revealed the first annual growth in personal loans and overdrafts since January 2009, as consumers throw off some of their caution, house prices rise and inflation recedes.

Confidence boosts consumer spend

Rising confidence in economic fortunes triggered healthier than expected retail sales in March as volumes rose 0.1 per cent on the month, beating City forecasts, according to the Office for National Statistics. Sales are up 4.2 per cent in annual terms, partly reflecting a bitterly cold March last year.

Travelex plans £1bn flotation

Foreign exchange company Travelex is seeking to list on the London Stock Exchange in May or June this year, in a deal which could value the company at more than £1bn. Travelex, the world’s largest foreign exchange specialist, was set up as a bureau de change in 1970s and now trades in more than 50 countries.