PRESS DIGEST - Financial Times - Dec 28 =2

CNMI BUYS MARINA IN WEST INDIES

Camper & Nicholsons Marina Investments (CNMI.L) has bought a marina in Grenada's capital St George's from Port Louis Land and Port Louis Trading for 12 million pounds. The marina is part of a 260-million pound development being spearheaded by Peter de Savary, the property magnate, who has described the Port Louis development as "Grenada's answer to St Barts, St Tropez, the Costa Smeralda and Portofino". Nick Maris, chairman of Marina Management International, said: "With this acquisition we have now committed around 45 million euros (33 million pounds), representing about 45 percent of our current total investment capacity. We have a number of exciting additional investment opportunities which we are actively pursuing."

NEVILLE PORTER COUNTS COST OF PITCHED BATTLE

Neville Porter NEVP.L, the Aim-listed bookmaker, has been forced into slashing the value of the pitches from which it operates at race meetings following a bitter row between racecourses and on-course bookies. Reporting a pre-tax loss of 913,000 pounds in the seven months to the end of June, of which 552,000 pounds was the writedown by 60 percent of the group's 43 pitches, Neville Porter said the entrenched positions taken by both sides in the clash over the value of pitches had reached a point where "this matter will eventually go before the courts". Over the next four years, the remaining value of the pitches will be written down to zero. The shares, floated at two pence, were unchanged at 1.38 pence.

PIONEERS HERALD A PUSH INTO ELECTRONIC BROKING

Michael Spencer, chief executive of the world's biggest inter-dealer broker, Icap (IAP.L), has said that the shift into online broking will cut costs, stating: "I don't have to pay bonuses to (computer) servers." Spencer has pioneered the move to electronic inter-dealer broking, with Icap aiming to conduct half of its business electronically; a third of its deals are already done online. Margins on electronic deals are much higher than on transactions done the traditional way -- over the phone. Michael Gooch, chief executive of rival GFI (GFIG.O), agrees that technology is increasingly crucial to staying competitive, saying that as well as improving operating margins, "a hybrid model (voice and electronic). presents a barrier to entry from rival brokerages."

NSG HIRES BRITISH FINANCE DIRECTOR

A Briton has been appointed as the new group finance director of Nippon Sheet Glass (5202.T), the Japanese glass manufacturer, in a move that is unusual for traditionally insular Japanese companies. Mike Powell was the finance director of Pilkington Group, the British company acquired by NSG for 2.2 billion pounds in June 2006, and his promotion follows that of fellow former Pilkington director Stuart Chambers, who was made group chief operating officer of NSG in September. The appointments were part of a reorganisation process following the acquisition of Pilkington, said NSG in a statement.

WH IRELAND HITS TARGETS DESPITE MARKET UPHEAVAL