PRESS DIGEST - British business - Aug 11

The Times

BERKELEY MARKETS 'AFFLUENT COUNTRY TOWN AMBIENCE' OF STANMORE IN INDIA

Berkeley BKG_u.L, the FTSE-250 listed property developer, is targeting well-to-do Indians looking to buy-to-let in London. In a ballroom of Bombay's finest hotel last week, a cadre of estate agents flown in from London talked of a "window of opportunity" created by the downturn in the UK housing market. Simon Halfhide, director of new homes at Berkeley's partner Jones Lang LaSalle, said: "There is a lot of foreign buying in London . But so far India has been relatively untapped".

CREST MAY ASK HBOS FOR CAPITAL INJECTION

The housebuilder Crest Nicholson is holding meetings with investors including HBOS HBOS.L to discuss the possibility of them putting additional equity into the business, at a time when it is also trying to renegotiate the terms of its debt. HBOS bought Crest last year in partnership with West Coast Capital and is understood to be considering inviting a new partner on board, with hedge funds and private equity groups thought to be interested. Crest said in June that profits for 2007 were 69.7 million pounds, down from 80 million pounds the previous year.

JOBLESSNESS SET TO RISE FOR SIXTH SUCCESSIVE MONTH

Jobless figures for last month, due out on Wednesday, are expected to provide official confirmation that unemployment has risen for the sixth successive month. Two influential surveys to be published on Monday will reinforce the bleak outlook. According to the latest quarterly report from the Chartered Institute of Personnel Development and KPMG, more than a quarter of employers are now planning redundancies in the present quarter. And a Royal Bank of Scotland (RBS.L) survey will suggest that numbers in work fell in every region in the UK last month, and at the fastest rate since late 2001.

The Daily Telegraph

BP ON ALERT AS RUSSIAN JETS ATTACK PIPELINE IN GEORGIA

Russian jets were reported to have launched a bombing raid on Saturday targeting BP's (BP.L) main pipeline in Georgia, raising fears that Moscow is moving to extend its stranglehold on Europe's energy supplies. BP owns a 30 percent stake in the Baku-Tbilisi-Ceyhan pipeline, which carries one million barrels of oil a day from Azerbaijan to the Mediterranean. Local reports recorded 51 missile strikes within 100 yards of the pipeline, although a BP spokesman said that after thorough checks the company had "disclosed no bombing in the vicinity of the BTC line".

LITTLE CHEF BACK ON THE ROAD

Little Chef, the roadside restaurant chain, has reported an eight percent rise in sales since the beginning of the school summer holidays. The chain, which celebrates its 50th anniversary this year, said the boost was thanks to an increase in Britons holidaying in the UK. A partnership with Michelin-starred chef Heston Blumenthal and a revamped menu focusing on healthier foods had also helped boost sales, the company said.

MARSTON'S TIPPED TO PITCH FOR CAINS

Cains, the Liverpool brewer which went into administration on Thursday after running into cashflow difficulties, has more than a dozen potential bidders expressing interest. At least 12 parties are understood to have been in contact with PricewaterhouseCoopers, the administrator, about acquiring all or part of the group. The brewer Marston's (MARS.L) has been tipped by analysts as a possible buyer for the business.

The Independent

WHITTARD SEES SWITCH FROM COFFEE HOUSES