PRESS DIGEST - British business - Feb 13

The Times

RYANAIR TO CLOSE TICKETS WEBSITE AFTER OFT WARNING

Ryanair(RYA.I: Quote, Profile, Research, Stock Buzz) is to close its website for three days next week because it has missed a deadline set by the Office of Fair Trading to remove misleading prices from the site. The shutdown will allow the budget airline to revamp the website and meet the OFT's rules for including taxes and other charges within headline fares. The shutdown may cost Ryanair 20 million pounds in lost revenue. Concern over the airline's strategy has given cause for Deutsche Bank to issue a warning of a possible 'business model failure'

TIDDLER TO WATCH

Serica Energy reported it has received high tender offers for gas which is to be pumped from its Indonesian Kambuna well from December. The company also reported it has increased its share in another Indonesian exploration project from 53 per cent to 78 per cent. Share closed at 81.75 pence, up 12 .75 pence.

DEAL OF THE DAY

Six directors of Dairy Crest(DCG.L: Quote, Profile, Research, Stock Buzz) have spent 115,600 pounds buying shares in the company at 542.31 pence each. The company reported rising sales in January but warned of a challenging outlook. Dairy Crest is one of several companies sharing a 116 million pound fine from the Office of Fair Trading over dairy price fixing. Shares rose 19.5 pence to 560 pence.

The Daily Telegraph

UNEASE OVER M&S DISCOUNT GIVEAWAY