PRESS DIGEST - British business - June 18

The Times

TEN ALPS PROFITS ON THE RISE

The media production company, Ten Alps (TAL.L), which was co-founded by Bob Geldof, had an 18 per cent increase in revenues for the year to March 31. The company's revenues are now at 81.4 million pounds.

PARK SLIPS BUT OPTIMISM ON THE RISE

Park Group (PRKG.L) has reported a sharp drop in annual profits. The company, which runs voucher and savings clubs, said however that its orders for Christmas were up 17 per cent. Park Group's pre-tax profits to March 31 fell to 5.2 million pounds from 10.1 million pounds.

BET OF THE DAY

Rio Tinto (RIO.L) rose 205 pence to 60.9 pounds after reports that Chinalco was keen to buy a range of global resources assets. Chinalco, which is China's state owned aluminium giant, is also rumoured to be increasing its stake in Rio Tinto. The website BetBrokersBinaries.com is offering 2-1 that the share price of the mining group is higher than 6500 pence in five market days.

The Daily Telegraph

TEMASEK PREPARES BARCLAYS CASH LIFT

On Tuesday the Singaporean state investment fund, Temasek, was conducting due diligence on Barclays (BARC.L) ahead of a possible cash injection to help the bank repair its stretched balance sheet. It is believed to be one of three or four investors lined up to buy new shares in and underwrite a placing to raise around four billion pounds. Barclays shares rose 11.5 pence to 340.5 pence on Tuesday.

FRIENDS WILL GET BY WITH A LITTLE HELP FROM PANTHEON AND LOMBARD.

Friends Provident (FP.L) could be about to gain new allies. The blue-chip company could sell Pantheon, its independent financial advisory arm, as early as next week. The division is estimated to be worth between 25 and 30 million pounds. Investors are hoping this could mark the start of a new chapter for the company.

RAYMARINE SHARE FALL BLAMED ON US

Marine electronics supplier, Raymarine's (RAY.L) shares fell almost 12 per cent on Tuesday. The drop came after it warned that sales had not met expectations due in part to the credit crunch and a weak US market. US retail and dealer channels account for 40 per cent of the company's sales. The financial director, Tony Osbaldiston, said "Our market has been affected by all of the adverse economic events".

The Independent

REVIEW OF MEDIA SECTOR WEIGHS ON TRINITY MIRROR