PRESS DIGEST - British business - April 25

The Times

BP BUYS INTO BRAZILIAN ETHANOL VENTURE

BP(BP.L: Quote, Profile, Research, Stock Buzz) is joining forces with two Brazilian agribusinesses, Santelisa Vale and Maeda Group, investing more than 284 million pounds in Tropical Bioenergia, a joint venture company that will farm sugar cane and refine the sugar into ethanol. The head of BP biofuels, Phil New, said: "If you just act as a purchaser and refiner of commodity feedstocks, you will get utility returns. It makes better sense to be upstream with the lowest cost and sustainable production."

MEDIA

Mama Group (MAMG.L: Quote, Profile, Research, Stock Buzz) has reported a sharply lower first-half pre-tax profit in a period of restructuring that also saw significant acquisitions. However, the group, which owns the Hammersmith Apollo music venue in West London, added it expects a strong second half and continued growth in revenues and profits in coming months.