PRESS DIGEST - British business - March 26

The Times

BONUS FOR HBOS EXECUTIVES AS BANK'S SHARES RISE

Shares in HBOS (HBOS.L: Quote, Profile, Research, Stock Buzz) soared a record 15 percent, giving the bank's top executives a 1.7 million pound profit on stock they bought last week. The group saw the largest one-day increase since HBOS was created by the merger of Halifax with the Bank of Scotland in 2001. Rumours that were spread by rogue traders last Wednesday were responsible for HBOS shares plummeting by 17 percent, which wiped more than three billion pounds off the bank's value.

TCHENGUIZ AND APAX DIVIDED

Apax and Robert Tchenguiz are believed to be at loggerheads over whether to sell Somerfield, which is up for auction but has only attracted one bid. Sources suggest Tchenguiz is keen to press ahead with the disposal because he is sitting on millions of pounds of losses from soured bets on Mitchells & Butlers (MAB.L: Quote, Profile, Research, Stock Buzz) and J Sainsbury (SBRY.L: Quote, Profile, Research, Stock Buzz). Apax is prepared to put the sale on hold if it does not achieve a decent price for the group's 955 stores.

CLIPPER COUNTS COST OF WINTER

Clipper Windpower (CWPR.L: Quote, Profile, Research, Stock Buzz) announced it has raised more than 25 million pounds through a share placing. The news from the wind turbine maker comes following inclement winter weather, which had affected its production plans, and caused a four-week delay to work on its turbine drivetrains.

The Daily Telegraph

BT TO EMPLOY 300 FOR NEW INDIAN CENTRE