PRESS DIGEST - British business - Feb 26

The Times

M&S TALKS OVER PLAN TO PUT FOOD SALES ON MENU IN INDIA

Marks & Spencer (MKS.L: Quote, Profile, Research, Stock Buzz) held talks with Reliance Industries (RELI.BO: Quote, Profile, Research, Stock Buzz) about selling its ready made curries in India. The British retailer had been selling clothes in India since 2001, but is yet to make an impact on the food market. Reliance also held talks with luxury marques, and the deals that arise could include joint ventures and franchise agreements. One source said: "We expect to have something substantial to announce in four to five months."

RIVALS PREDICT BBC WILL BID "WHATEVER IT TAKES" TO WIN.

The BBC [BBC.UL] is ready to take on BSkyB (BSY.L: Quote, Profile, Research, Stock Buzz) and ITV (ITV.L: Quote, Profile, Research, Stock Buzz) for the right to broadcast Champions League football. Virgin Media (VMED.O: Quote, Profile, Research, Stock Buzz) is thought to be unlikely to participate after its chief executive said it would invest in its broadband network instead. Currently, both Sky and ITV share the rights. ITV is believed to pay 42 million pounds a year and Sky 47 million pounds. In an attempt to extract more revenue, the next rights deal will be broken into smaller chunks, and Team, the company that manages the rights, is asking broadcasters to bid separately for the right to the first and second picks of matches on each evening.

STAGECOACH SAYS TRADING STRONG

Stagecoach (SGC.L: Quote, Profile, Research, Stock Buzz), the train and bus operator, announced trading since the end of October was strong and financial performance has been at the top end of expectations. Stagecoach said like-for-like revenue growth was 14 percent in its UK rail division and 7.4 percent in its bus division for the 40 weeks to Feb. 3.

The Daily Telegraph

NATIONWIDE RAISES DEPOSIT THRESHOLD