Update 1-press Digest- Sunday British Business – Oct 6

UK white space trial participants to include Google, Microsoft and Neul

PENSION CORPORATION EYES 1.2 BILLION POUND FLOAT Pension Corporation, a specialist insurer for defined benefit retirement schemes has discussed a possible stock market listing with investors as it looks to raise capital to support growth. CVC COLLECTS $865 MLN DIVIDEND FROM FORMULA ONE Private equity group CVC, the largest single shareholder in Formula One, has banked an $865 million dividend from the motor racing business for the financial year to December 2012. CHINESE CHEMICALS GIANT TO LIST IN LONDON Chinese chemical company Tianhe Chemicals, which postponed a London float in 2011 and had since planned to list in Hong Kong, has switched its sights back to London again and is looking to go public by March next year. TESCO INVESTORS URGE CHIEF EXECUTIVE TO CUT PRICES A top-10 Tesco shareholder said Chief Executive Philip Clarke needed to be more aggressive with its turnaround plan, including cutting prices in the UK, and was running out of time to prove to shareholders he was the right man for the job. The Sunday Times SERCO FACES GOVERNMENT INVESTIGATION Global outsourcing group Serco faces a wide-ranging government investigation into its largest state contracts. Its UK and Europe Chief Executive Jeremy Stafford is expected to leave, according to sources. HOUSE OF FRASER SPEEDS UP FLOAT PLANS Department store House of Fraser is accelerating plans for a stock market float early next year and is expected to appoint bankers in the next few weeks. ROYAL MAIL COULD PAY NO TAX FOR YEARS AFTER FLOAT The prospectus for Royal Mail’s London listing reveals it may not have to pay corporation tax for several years, after building up a backlog of 2.8 billion pounds of losses against which it can claim tax relief. RBS ACCUSED OF BLOCKING HOUSING BUILDING State-backed Royal Bank of Scotland has been accused of blocking house building on 1 billion pounds worth of property, acquired through repossessions, despite the government’s push for more new homes to be constructed. TESCO UNDER PRESSURE OVER TURKISH BUSINESS Tesco shareholders have called on the supermarket to come up with a plan to shake-up its loss-making Turkish business or sell the 191-store Kipa chain. JOHNSTON PRESS SEEKS DEAL ON DEBT British regional newspaper publisher Johnston Press has hired Rothschild to co-ordinate discussions with its lenders over refinancing its 300 million pound debt pile.

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USC-UK box score

4-39.5 1-41.0 Fumbles-Lost……………… 0-0 2-1 Penalties-Yards…………… 2-9 5-40 Possession Time…………… 30:15 29:45 Third-Down Conversions…….. 5 of 11 5 of 9 Fourth-Down Conversions……. 2 of 2 0 of 0 Red-Zone Scores-Chances……. 4-4 2-2 Sacks By: Number-Yards…….. 3-16 2-15 RUSHING: Kentucky-Jalen Whitlow 17-69; Jojo Kemp 12-40; Raymond Sanders 7-14. South Carolina-Mike Davis 21-106; Connor Shaw 9-50; Pharoh Cooper 2-26; Shon Carson 3-7; Dylan Thompson 1-minus 5; TEAM 3-minus 6. PASSING: Kentucky-Jalen Whitlow 17-24-0-178. South Carolina-Connor Shaw 17-20-0-262; Dylan Thompson 1-3-0-13.

UK chain telling porkies?

Picture: Bongiwe Mchunu London – Supermarket giant Tesco has been accused of lying to shoppers after being caught selling foreign lamb because home-produced meat was out of season. Cumbrian sheep farmer Linda Allan complained when her weekly groceries included New Zealand lamb. And she was outraged when Tesco told her: As lamb is not in season in the UK at the moment, we have to source our supply from elsewhere. Mother-of-four Mrs Allan, who runs a 200-acre upland farm with 1 000 sheep at Killington with her husband Neil, pointed out the British season is at its peak. She said: On its website, Tesco says it sources lamb from the north of England from September to December. But what it is doing totally contradicts that. I was shocked. I dont understand why it is doing it when there is a glut of British lamb on the market. What hope have British farmers got if this is the attitude of our biggest supermarket? Farmers leaders have accused Tesco boss Philip Clarke of breaking a pledge made during the horsemeat scandal to sell more British meat. Phil Stocker, leader of the National Sheep Association, has asked for an urgent meeting with the retailer. He said: For Mrs Allan to be told lamb is out of season is astonishing, and either purposefully misleading or a case of Tesco being completely unaware of reality. It is unacceptable either way. He said: Mr Clarke stated after the horsemeat scandal that Tesco needed to support UK farmers. The recent evidence shows that this is not happening. Charles Sercombe, chairman of the National Farmers Unions livestock board, added: The market is awash with UK lamb. Tesco described the incident as an error and said it supported British farming. In a statement, it added: We are confident that we source more British lamb than any other UK retailer. However, two months ago in an industry survey of British lamb on sale in supermarkets, Tesco came bottom with 67 percent.