Newspaper round-up

(Reuters) - Stagecoach, Eurotunnel and Royal Bank of Scotland feature in our round-up of Tuesday's business press.

Financial Times

DEVELOPERS FEEL THE PINCH AS SPENDING SLOWS

According to the British Retail Consortium, UK retail sales last month fell by 1.6 percent compared with March 2007. The reported decrease in consumer spending is, according to Greg Styles, head of retail at property agent Colliers CRE, is making retailers more choosey in terms of the retail space they acquire. This is coupled with the difficulties faced by developers in securing financial backing for retail schemes, states Mr Styles. ING Real Estate has postponed a 300 million pound project in Chester, partly as a result of the changing conditions in funding for retail projects. "The issues facing the credit markets, commercial and construction price inflation and market condition continue to prevail," argues development director David Alker. With Land Securities(LAND.L) expected to say in its trading statement in May that Cabot Circus, its Bristol retail project with Hammerson(HMSO.L), is more than 80 percent let, the outlook, however, is not altogether bleak.

WARNING OF HERITAGE SKILLS SHORTAGE

A report by the National Heritage Training Group has warned that the upkeep of some of the country's oldest buildings remains under threat due to a serious shortage of traditional building skills. The report adds, however, that the shortage of workers with traditional craft skills had decreased from almost 6,600 to nearly 3,600 since its publication of a similar report in 2005. The improved situation was attributed to better recruitment, improved careers marketing, staff retention, retraining and the arrival of skilled migrant workers from eastern and central Europe. However, there are still shortages in certain skills, and serious deficiency in the available number of construction professionals, such as architects, engineers and surveyors, with suitable knowledge and experience of conservation.

OFT FOCUSES ON BEVERAGES IN PRICE-FIX PROBE

As part of its latest probe into alleged price-fixing between supermarkets and their suppliers, the Office of Fair Trading is additionally looking into beverages. Requests for information have been sent to Coca-Cola Enterprises and Britvic, with the former confirming that it had been required to provide information to the OFT. The requests for information come in the light of co-ordinated visits last Thursday to the big four supermarkets- Tesco(TSCO.L), J Sainsbury(SBRY.L), Asda and Wm Morrisons(MRW.L), in addition to Procter & Gamble(PG.N). The latest investigation follows last week's OFT report alleging price-fixing in the cigarette market in the UK between 2002-03. The latest probe will not contribute to an easing of the growing tensions between supermarkets and the watchdog, with the former displeased by the OFT's strategy of mounting high-profile investigations into sectors that resonate with consumers.

WHITE CITY STRUGGLES TO LURE LUXURY