PRESS DIGEST - British business - July 11

The Times

BRITISH LAND FENDS OFF REMUNERATION REVOLT

A third of British Land (BLND.L) investors voted against the company's annual remuneration report. The property company's new chief executive Chris Grigg received a 242,500-share "golden hello" while executives were awarded bonuses worth between 200 percent and 500 percent of their salaries. The report was carried.

CENTRICA BEATS DEADLINE WITH 1.3 BILLION POUND BID

Centrica (CNA.L) has made a 1.3 billion pound takeover bid for Venture Production (VPC.L), the North Sea gas producer. The company also announced it has increased its stake in Venture to 29 percent. Centrica said the 845p-a-share all-cash offer represented a 45.7 percent premium to Venture's share price on the last day of trading before its intentions towards Venture became known. Centrica's chief executive Sam Laidlaw said a successful bid would give the enlarged group an enhanced position in the North Sea and a more diversified portfolio of assets.

THE SUN SHINES ON WAITROSE

Waitrose has benefited from the good weather with a 14 percent increase in takings in the week to last Saturday with sales of quiche, sandwiches, yoghurts and ice creams reaching record levels. Sales of seasonal flowers have also soared. Like-for-like sales at the supermarket are 5.3 percent higher for this financial year to date which began on February 1. Tony Solomons, retail director of the parent company John Lewis [JLP.UL], said: "Many sought to bring a bit of summer indoors."

The Daily Telegraph

FOXTONS CONTRACTS "UNFAIR"