PRESS DIGEST - British business - Aug 15

The Times

JJB SPORTS SHAREHOLDERS TURN TO FORMER CHIEF EXECUTIVE FOR.

JJB Sports' (JJB.L) leading shareholders have asked Tom Knight to replace Sir David Jones as executive chairman. Knight, who headed JJB until 2007, was approached by Harris Associates and Crystal Amber after JJB said it was searching for a chief executive so Jones could step down as executive chairman to become non-executive chairman. Tom Knight said, "I can confirm I was approached by major shareholders and have had a meeting with [Sir David] Jones. It has the opportunity to be recognised as the retailer for sports product. No one is better placed than JJB if they can get their finance and stock in place."

GERMAN GROUP TO ROLL WITH STOBART'S RAIL OPERATIONS

The running of Stobart Group's (STOB.L) rail operations has been handed to a division of Deutsche Bahn [DBN.UL]. DB Schenker Rail has been hired as Stobart's main provider of rail freight services, previously handled by Direct Rail Services. Stobart has not disclosed the value of the deal, but said the change would enable "a further step change" in its approach of developing "multi-modal" services. Andrew Tinkler, Stobart's chief executive, stressed the decision was not a reflection of DRS's service or performance, merely that it was due to Stobart's rapid expansion and its move into continental Europe.

RIO STAFF ON INDUSTRIAL SPY CHARGES HIRE LEADING LAWYERS

Some of Shanghai's best lawyers have been hired to defend the four Rio Tinto (RIO.L) executives being held by the Chinese government on suspicion of stealing state secrets, although this original claim has since been reduced to receiving bribes and stealing commercial secrets. Charles Duan of Duan & Duan, China's first private law firm, will represent Rio's lead iron-ore negotiator Stern Hu, with the other executives also hiring leading criminal lawyers.

The Daily Telegraph

BRITISH LAND IN BROADGATE STAKE SALE