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The Business Matrix: Monday 30 January 2012

 

Monday 30 January 2012 03:17 GMT
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VW in for Porsche sports cars

Car company Volkswagen is reported to be considering acquiring the remaining 50.1 per cent of Porsche SE's sports car business. The company's supervisory board is believed to be planning to discuss the move at an extraordinary meeting on 14 February. Volkswagen will have to pay 3.9bn euros plus taxes for the remaining stake.

Renewable deals hit record high

The value of deals involving renewable energy companies soared by 40 per cent to a record $53.5bn (£34bn) worldwide last year, as the Fukishima disaster prompted a move away from nuclear power. The rise was driven by the solar power industry, where the value of transactions jumped by 56 per cent to $15.8bn.

Family's tax bill tops £656,000

The average family pays £656,000 in direct and indirect tax over their lifetime. The figure includes a total of £250,000 in income tax and £101,000 in VAT, according to calculations by the Tax Payers' Alliance. The figures are based on the current level of taxes applying over a working lifetime of 40 years as well as 15 years of retirement.

Record product recalls in 2011

Batches of a Loyd Grossman korma sauce, Beko freezers from Turkey and Pfizer's hormone replacement drugs were part of a record 291 products recalled in the UK last year – a 27 per cent increase on 2010. A recall report, from law firm Reynolds Porter Chamberlain, found faulty electrical and food products were the biggest culprits.

BSkyB could see sales lift

BSkyB has not had a great run-up to the release of its second-quarter figures, due tomorrow. The satellite broadcaster has been hit by a many analysts cutting their forecasts. Investec's Steve Liechti is expecting BSkyB to report a 6.7 per cent jump in its sales to £3.4bn and a lift in television subscribers.

Imperial Tobacco volumes decline

Imperial Tobacco enjoyed a good 2011 but the cigarette maker – whose brands include Davidoff and Lambert & Butler – has not been in demand this year, and Nomura's analysts are expecting it to announce weak volumes with its first-quarter update on Wednesday. Cigarette volumes could see a single digit decline.

BT results set to be solid, for now

Nick Lyall at UBS expects BT's third-quarter results on Friday will be "solid" but there are concerns about what the rest of 2012 will bring. This year could see rival BSkyB roll out its fibre broadband service and the launch of YouView television venture, so the City will be looking for an comments on either issue, warning both of them issues "introduce uncertainty".

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