The Business Matrix: Thursday 19 February 2015

Bank’s HQ set for £500,000 wash

The Bank of England’s Threadneedle Street HQ is in line for a clean-up for the first time in more than 20 years – at a cost of more than £500,000. The cleaning of the masonry of the Grade I-listed building’s exterior wall – known as the Soane Wall after the Bank’s famed surveyor Sir John Soane – will begin this weekend.

Rexam jumps as US firm closes in

Shares in the can maker Rexam jumped nearly 4 per cent yesterday on reports that the US packaging company Ball is close to a deal to buy it for about £4bn. According to the Wall Street Journal the two companies, which revealed they were in talks earlier this month, could unveil the takeover as early as this week.

Good conditions lift Galliford Try

The construction firm Galliford Try said its half-year profits rose by 12 per cent to a record £42.5m after a strong performance from its Linden Homes division. It said it was optimistic about housing market conditions, while its enlarged construction business now has a record order book of £3.2bn.

Buffett sells down Exxon Mobil stake

The sinking oil price has led the billionaire SU investor Warren Buffett to sell down his company’s stake in US oil giant Exxon Mobil. Latest dealings for his Berkshire Hathaway investment vehicle show he sold 41 million Exxon shares in the last three months of 2014. Oil prices hit an almost six-year low of $45.19 in January.

King steps down at House of Fraser

House of Fraser’s chief executive John King will step down after eight years at the helm of the department store. He was brought in by previous owners, the Highland consortium, and becomes a non-executive director less than a year after it was sold to Chinese owners Nanjing Cenbest.

Central bank’s $300m for hryvnia

Ukraine’s central bank has spent more than $300m since the start of February in indirect currency interventions to support the struggling hryvnia, it revealed yesterday. The hryvnia fell nearly 50 per cent against the dollar last year and has dropped another 40 per cent so far this year.

US horseracing deal for Betfair

Betfair has tightened its grip on US horseracing broadcasting, paying up to $73m (£47m) for the HRTV horseracing television network. The station, bought from racecourse operator Stronach Group, will be combined with Betfair’s current US subsidiary TVG.

Walkman stops spinning for Sony

Sony is phasing out its once world-beating Walkman business to focus its attentions on the Japanese technology firm’s lucrative Playstation and entertainment divisions. The loss-making company said the move is aimed at turning a £2.7bn profit within three years.

RSA sheds stake in Indian firm

RSA Insurance continued its disposal programme yesterday with the sale of its 26 per cent holding in Indian insurer Royal Sundaram Alliance Insurance Company to Sundaram Finance, its joint venture partner, for about £46m.

Worries over low rise in US output

US manufacturing output rose modestly, by just 0.2 per cent, in January and not at all in December, potentially worrisome signs for the US economy given the recent strength in the dollar and weaker overseas markets.