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BP goes into afterburn.

Oil company BP beat off competition to take a 20% stake in the troubled company that supplies nearly all of China's imported jet fuel.

BP has agreed to spend $44m (pounds 25.4m) for the stake in China Aviation Oil (CAO) ( the Singapore group that was at the centre of the country's biggest scandal since Barings Bank collapsed in 1995.

New report a blow to P&O

THE rollercoaster ride for P&O shares continued as the stock slipped amid reports it was less likely to draw a rival takeover approach.

P&O has already agreed a pounds 3.3bn deal with Dubai Ports World, but its shares soared another 12% on Friday when it emerged Singapore shipping giant Temasek had taken a 3.2% stake in the ports and ferries group.

England kit is kicking off

SPORTSWEAR firm Umbro eyed a World Cup bonanza after reporting record demand for England kit ahead of this summer's tournament.

The company said its 2006 order book for replica team kits and Three Lions products was already ahead of last year's Euro 2004 sales figure.

Aberdeen sees profits up 70%

ABERDEEN Asset Management said annual profits rose 70% as margins strengthened and it proved more adept at winning business.

The fund manager booked pounds 3.6bn of new business during the year to September 30.

Food firm takes a roasting

A STRUGGLING sausage, burger and pastry manufacturer which blamed falling sales on celebrity chef Jamie Oliver's campaign for healthier school dinners says it is under threat.

Canterbury Foods was forced to put many of its businesses up for sale but said yesterday the offers would not wipe out its debts of around pounds 20m.

Jobs rise slows in services

THE pace of employment growth in services slowed to its lowest rate since February last month.

The barometer used by the Chartered Institute of Purchasing & Supply to measure job levels fell from 51.9 in October to 51.2 in November.
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Publication:The Journal (Newcastle, England)
Date:Dec 6, 2005
Words:327
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