Watchdog to look at Rank Gala deal
The Competition Commission is to review Rank's proposed acquisition of a rival casinos business after a referral by the consumer watchdog, the Office of Fair Trading, which is concerned the tie-up will reduce competition. Rank in May agreed to buy the casino business of Gala Coral.
Olympics fail to bother Bovis
Bovis Homes shrugged off worries over an Olympic slowdown for housebuilders yesterday as the firm doubled profits and dividends in the first half of the year. The company's pre-tax profits rose to £16.2m. Bovis investors also welcomed the doubling of the interim dividend to 3p.
Amlin in black on fewer disasters
Lloyd's of London insurer Amlin bounced back into profit thanks to fewer catastrophes this year than last and also revealed it paid tax at a rate of barely more than 8 per cent. For the six months to June it made a profit of £184.5m, compared with a loss last time around of £192.3m.
CME to run new market in London
The world's largest futures exchange, CME, has applied to run a new European derivatives market from London. That will pitch it against the existing big players in the European derivatives market, London-based Liffe, and Eurex, the Frankfurt-based exchange.