PRESS DIGEST - British business - May 5

The Times

REACTORS WILL COST TWICE ESTIMATE, SAYS E.ON CHIEF

Wulf Bernotat, head of the German energy giant E.ON EONG.DE, has said the Government is vastly under-estimating the cost of building a new generation of nuclear plants. The Government's latest estimate of 2.8 billion pounds per plant is way off the mark according to Bernotat, who says the cost per plant could be as high as six billion euros (4.8 billion pounds). "We are talking easily about five billion euros to six billion euros," he said. If his figures are correct, the cost of replacing Britain's 10 nuclear reactors could be as high as 48 billion pounds even before extra costs, such as dealing with nuclear waste, are factored in.

CENTER PARCS PLANS EMERALD ISLE EXPANSION IF WOBURN SITE PAYS DIVIDEND

Center Parcs is planning to expand into Ireland after it opens its new 200 million pound Bedfordshire site in 2010. The leisure group, which offers family activity holidays in some of Britain's biggest forests, has been monitoring Ireland for suitable locations. Martin Dalby, chief executive, said Ireland would be an obvious next step after the opening of the company's fifth site in 2010 effectively completed its geographical spread in mainland Britain. "Five sites is what the UK can support," he said.

DOCKLANDS EXCEL SOLD FOR 178 MILLION POUNDS

London's largest exhibition centre, the ExCel docklands conference centre, is being sold to a property company set up, owned and financed by the government of Abu Dhabi. The Gulf state's firm made a recommended cash bid for the centre's owner, London International Exhibition Centre Holdings. The purchase marks the start of what promises to be an international drive by the Abu Dhabi government to tap into the multimillion-pound conferencing industry through acquisitions of similar-sized venues.

The Daily Telegraph

ANOTHER BOOST FOR CAMERON'S FAMILY

Like-for-like sales at Oka, the up-market interiors group led by David Cameron's mother-in-law Annabel Astor, rose 28 percent in the first quarter of the year. Lady Astor, chief executive, said: "Having developed the Oka retail model of a multi-channel business all the investment and hard work of restructuring last year is now paying off." The firm, thought to be worth between 20 and 30 million pounds, is planning to open "at least" three further shops this year. It recently received a cash injection aimed at driving organic growth from Fleming Family & Partners, the private equity group.

APPRENTICES ANCHORED TO NAVY