PRESS DIGEST - British business - June 25

The Times

BRADFORD & BINGLEY READY TO OPEN BOOKS AFTER COWDERY REVISES OFFER

Mortgage bank Bradford & Bingley BB.L looks poised to agree to open its books to Resolution after a revised 400 million pound bail-out proposal was tabled by Clive Cowdery's investment vehicle. It is understood Rod Kent, chairman of the buy-to-let lender, will convene a board meeting on Wednesday at which the management will grant Resolution identical due diligence terms to those given to TPG, the U.S. buyout firm whose proposal to pay 179 million pounds for a 23 percent stake in B&B currently has the board's backing.

DEBENHAMS IN CALL FOR GREATER VIGILANCE ON CHILD LABOUR

Debenhams (DEB.L) reacted on Tuesday to reports that suppliers of Primark had children working for them by calling for greater vigilance from clothing retailers in monitoring their suppliers. Rob Templeman, chief executive, said: "What's happened with Primark is a lesson for everybody. You have to make sure if you have sequin or embroidery work carried out that it's being done in the factory and not outsourced. It is very, very hard to police but you've got to be vigilant." The BBC's Panorama programme discovered that children in India as young as 11 were carrying out work on Primark clothing.

DUBAI SOVEREIGN WEALTH FUND SHUNS PARTNERS IN 1.4 BILLION POUND RACE FOR TRILLIUM

Dubai's sovereign wealth fund has ruled out making a joint offer for Trillium, the 1.4 billion pound property outsourcing division of Land Securities (LAND.L), and is now expected to table an individual bid. Investment Corporation of Dubai had been the cash backer of an approach for Trillium by property entrepreneur Victor Tchenguiz and aAIM, the property fund manager part-owned by HBOS HBOS.L. But rifts between the parties derailed the plan, with ICD opting to mount the bid on its own, sources said. Final bids are due on Friday.

The Daily Telegraph

BG MAKES 6.7 BILLION POUND PITCH FOR ORIGIN