PRESS DIGEST - British business - July 15

The Times

MFI CALLS ON RESTRUCTURING AGENTS AFTER RIVAL'S COLLAPSE

MFI has brought in corporate restructuring expert John Talbot of Kroll Talbot Hughes, a fortnight after the collapse of its rival ScS Upholstery. The move is unlikely to quell speculation about the impact of the credit crunch on MFI which announced earlier this month plans to close a call centre in Sunderland. MFI was also forced in May to scrap a 24 million pound advertising campaign after insurers declined to cover the possibility that the chain might fail to pay for the work.

TIDDLER TO WATCH

Emerald Energy unveiled on Monday a deal to share the costs of drilling its Columbian prospect and confirmed the start of oil production next month at its Khurbet East filed in Syria. House broker Evolution said the discount to its 470 pence core net asset value from producing fields was unjustified. Shares rose 18 pence to 349 pence.

RUMOUR OF THE DAY