PRESS DIGEST - British business - May 27

The Times

CHANNEL 4 RADIO HOPES MOBILE PHONE DEVELOPMENT WILL SAVE DAB

Channel 4 Radio is in talks with electronics manufacturers to create a branded plug-in DAB device that would enable mobile phone and iPod users to access digital radio. The news comes as the broadcaster prepares to launch digital station E4 Radio later this year. It is keen to develop an E4 or Channel 4-branded device that would cost no more than 20 pounds, sources said. The development comes as DAB radio take-up has been slow, with only 6.5 million digital radio sets in use compared to 100 million analogue sets. DAB suffered a setback in February as a result of the announcement of the planned departure of GCap GCAP.L, Britain's largest commercial radio group, from digital radio. Enders Analysis suggested in a recent report that DAB could become the new Betamax.

GULF BETWEEN U.S. AND EUROPEAN POLICY WIDENS AS BOOM TURNS SOUR

The president of the New York Federal Reserve appeared to widen the rift between Europe and the United States over the credit crisis as he acknowledged that the European Central Bank and the Fed were moving in different policy directions. Speaking at the Group of 30 meeting in Jerusalem, Timothy Geithner said: "The circumstances in each country are very different and the policy responses are going to be very different even though we face a common challenge in the global inflation dynamics."

BOLTON SAYS IT IS TIME TO MOVE INTO FINANCIALS

One of the City's leading fund managers called the top of the commodities market on Monday when he indicated that he would switch out of metals and oil and into financial stocks. Anthony Bolton, who until January ran Fidelity's Special Situations Fund, said: "After five years of strong commodity markets, a contrarian such as myself would start to get more worried. I would switch out of commodities today and move into financial stocks." If you had a spread of such stocks, "you should do well," said Bolton.

The Daily Telegraph

OVERSEAS MOVE HIGH ON PRUDENTIAL AGENDA

Mark Tucker, chief executive of Prudential (PRU.L), has revealed the insurances and pensions group is considering moving offshore. Although a move is not imminent, Tucker confirmed that joining the exodus of British companies overseas was high on the agenda. "You have to, on a continual basis, look at domicile and tax residency," he said, conceding that Prudential's registered base could be moved abroad with its administrative headquarters remaining in the UK.

QATARIS EYE LONDON AS THEY PLAN FIVE BILLION POUNDS SPREE

A consortium made up of four Qatari state-backed investors -- Qatar National Bank (QNBK.QA), Qatar Islamic Bank QISB.QA, Barwa International and QInvest -- is preparing to work with Sellar Property Group to invest up to five billion pounds in UK and European commercial property. The group took an 80 percent share in Sellar's 1.4 billion pound Shard of Glass development on London's South Bank in January. Sheikh Jasim, chairman of QIB, said: "We will continue to look for similar opportunities. It is our belief that the UK continues to be an attractive investment place in Europe."

UNION TO PROTEST AT M&S FLAGSHIP

A protest is expected outside Marks & Spencer's (MKS.L) flagship London store at Marble Arch on Thursday after a Lincolnshire factory owned by Northern Foods (NFDS.L), M&S's biggest food supplier, was slated for closure. Stefan Barden, chief executive of Northern Foods, decided to mothball the site rather than yield to demands by M&S for discounts as part of its supplier review programme, Project Genesis. Andy Fletcher, regional organiser of the GMB union, said: "Members who are losing their jobs at Grantham will be travelling down by coach to join other GMB members at the store. We will be inviting the region's MPs to join the demonstration."

The Independent

DEBENHAMS LOOKS TO INDIA AND RUSSIA FOR EXPANSION