PRESS DIGEST - British business - Feb 18

The Times

CUSTOMERS FOR BT MOBILE PHONES AT ALL-TIME LOW

Subscribers to BT's(BT.L: Quote, Profile, Research, Stock Buzz) mobile service are languishing at an all time low, and trading figures reveal the number of BT mobile phone customers stands at only 86,000. The amount is the lowest it's been since quarterly key performance started to be collated in 2004-05. BT's poor performance in the mobile market is seen by analysts to be the reason for its wavering share-price. The group is now working on a new strategy which will heavily integrate its mobile phone service with its broadband offering.

HARD TIMES PROVE AN OPPORTUNITY FOR SOME

Following months of increasing unease about a declining housing market, specialist firms, like Quick Move, believe they can profit. The housing broker buys properties from homeowners and builders looking for a quick sale, and tends to buy them for about 86 per cent of their value. Quick Move's managing director, Hywel Luke, said: "We're seeing a lot more people that need our services and we're doing well on the resale side." Britain's auction houses are also taking advantage of the increase in repossessions.

PARAGON CLOSES ISSUE

Paragon(PARA.L: Quote, Profile, Research, Stock Buzz) will close its books on Monday on a rescue rights issue aimed at raising money to repay a debt facility that falls due this month. The niche mortgage lender needed to raise 287 million pounds. The issue is underwritten by UBS, and has been undermined by the decrease in Paragon's shares towards the 100 pence price of the rights. The lender mostly provides buy-to-let mortgages.

The Daily Telegraph

INC ELBOWS IN ON POOL BAR CHAIN