The Business Matrix: Tuesday 8 July 2014

World Cup boost for TV and radio

The World Cup and the improving economic outlook helped boost TV and radio advertising spend this year. The Advertising Association and Warc (World Advertising Research Center) have revised their UK forecasts upwards on the back of the strong growth so far this year and now predict 6.7 per cent growth next year.

Tablets to outsell PCs by end of year

Tablet sales should overtake personal computers and laptops by next year showing how fast tablet devices have conquered the computing market just four years after Apple launched the iPad. Research firm Gartner estimates global tablet sales should hit 321 million, while PCs and laptops will notch up only 317 million despite sales stabilising.

Spire looks for £315m from listing

Spire Healthcare is hoping to raise £315m from its listing later this month. The company, which owns 38 private hospitals, will use the money to pay down its debt, but not before lining the pockets of its private equity owner Cinven. The company has revealed a 210p to 300p price range, valuing it at up to £1.1bn.

China in need of more stimulus

Chinese growth accelerated in the second quarter but the country might need more stimulus, Premier Li Keqiang said yesterday during a visit to Beijing by German Chancellor Angela Merkel. China’s GDP grew at an annual pace of 7.4 per cent in the first quarter, the slowest pace since the third quarter of 2012.

More challenger banks emerging

Changes to reduce barriers for new financial institutions have seen many more potential challenger banks emerge, according to the Prudential Regulation Authority. The regulator has authorised five new banks and seen another 25 applications since the changes were introduced in March 2013.

ADM pays £1.7bn for Wild Flavours

Wild Flavors, the food ingredients maker owned by the Wild family in Germany and the private-equity giant KKR, has been swallowed up in a €2.2bn (£1.7bn) takeover deal with America’s Archer Daniels Midland. However, Wild’s Capri Sun brand will continue to be owned by the German family.

Stiglitz warning on stock markets

The US economist Joseph Stiglitz told CNBC he is “very uncomfortable” with stock market levels, warning that high stocks do not mean a strong economic recovery. He said low interest rates and wages and fast-growing emerging markets boost multinationals.

FSCS helps 34,000 people to £243m

The Financial Services Compensation Scheme (FSCS) paid out £243m in the past year but the number of claims for mis-sold payment protection insurance (PPI) fell for the first time. FSCS helped more than 34,000 people, according to its accounts.

31% profits hike for Poundworld

Poundworld, founded on a Wakefield market stall in 1974 by current owner Chris Edwards, reported underlying profits of £6.2m for the year to 31 March, up 31 per cent. Turnover from the 242-store chain was £345.3m, a rise of 18 per cent.

Government puts £52m into training

The Government is to invest £52m into science skills and training, science minister David Willetts revealed yesterday. The Science Industrial Partnership – comprising 100 science groups led by GlaxoSmithKline – won the funding.