Homes builder takeover battle?

The UK's biggest builder of retirement homes appeared to be on the brink of a £1bn takeover battle.

The UK's biggest builder of retirement homes appeared to be on the brink of a £1bn takeover battle.

At the same time as McCarthy & Stone unveiled the terms of an agreed takeover, another private equity-based consortium told the City it was putting the finishing touches to a possible rival offer.

Car production plans limited

UNION leaders expressed disappointment after the Chinese company which bought collapsed car giant MG Rover announced plans for limited production in the UK, creating fewer than 200 jobs.

Nanjing Automobile Corporation, which bought the firm a year ago, said it would invest £10m at the plant in Longbridge, Birmingham.

Tesco bolsters its portfolio

SUPERMARKET giant Tesco bolstered its international portfolio with a deal to buy Poland's Leader Price for £72m.

Tesco already has 107 outlets in Poland, but will gain another 220 convenience stores through the purchase.

Revenues up for chain Wolseley

BUILD centre chain Wolseley said revenues were up by a quarter after solid trading in the UK and the impact of a number of acquisitions.

The company, which has 1,670 branches in the UK supplying building and other materials, said favourable currency exchange rates had also added £300m to group revenues.

Centre to be reopened

A DISTRIBUTION centre closed by Morrisons in a restructuring drive earlier this year will be reopened by rival Waitrose next year.

The site at Aylesford, Kent, was the subject of a row with unions after Morrisons closed it in March.

Chief arrested

A LEADING online gaming group was attempting to find out why its British boss was arrested at a US airport yesterday. BetOnSports chief executive David Carruthers was detained by US federal authorities as he changed flights on his way from the UK to the company headquarters in Costa Rica.

Journalists

David Whetstone
Culture Editor
Graeme Whitfield
Business Editor
Mark Douglas
Newcastle United Editor
Stuart Rayner
Sports Writer