Business and City Summary

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QVC Network plans no changes in its buyout offer for Paramount Communications and will not attempt to improve on Viacom's terms in the dollars 10bn auction.

Barry Diller, chairman, said the statement was not a concession and he was encouraging Paramount shareholders to tender their shares today to QVC's bid.


Midland Indpendent Newspapers, which will seek a listing in March, has appointed Frances Elliott, public affairs director at Tesco, and Gareth Davies, chairman of Glynwed International, as non-executive directors.

TODAY. 14.2.94

Producer price index (Jan).

Interims: Castle Cairn Inv Tst, English & Caledonian Inv, Foster's Brewing, Mid Wynd Intnl Inv Tst, Roxspur, Second Alliance Tst, Stanelco, Throgmorton 1000, Westminster Health Care.

Finals: Baring Tribune Invt Tst, Flying Flowers, Olim Convertible Tst, Second Market Inv Co.

TOMORROW. 15.2.94

CBI survey of distributive trades (Jan). Index of production (Dec). UK acquisitions and mergers (fourth quarter). Construction - new orders (Dec).

Interims: Armitage Bros, Hanson (first quarter), Howard Holdings.

Finals: British Airways (third quarter), Burlington, St Modwen Properties, TR Pacific Inv Tst, Union Discount Co of London.

WEDNESDAY. 16.2.94

Retail prices (Jan). Public sector borrowing requirement (Jan). Retail sales (Jan). Labour market statistics: unemployment (Jan, prov), average earnings (Dec, prov), employment, hours, productivity and unit wage costs, industrial disputes. Farm rents in Wales: results of 1993 inquiry.

Interims: Benson Group.

Finals: County Smaller Cos, Leslie Wise Group, Trencherwood, Trust of Property Shares, Vardon, Yeoman Inv Tst.

THURSDAY. 17.2.94

Machine tools (Dec). Financial statistics (Feb). Provisional figures for vehicle production (Jan).

Interims: Alumasc, Glasgow Income Tst (div), Glaxo, Intl Communication, Pantheon Intnl, River & Mercantile Geared.

Finals: Anglo & Overseas Tst, Bank Leumi (UK), Kleinwort Benson, River & Mercantile Tst, Vektra Corporation, Wickes.

FRIDAY. 18.2.94

Building societies' monthly figures (Jan). Provisional estimates of M4 and counterparts (Jan). Main British banking groups' monthly statement (end Jan).

Finals: Inoco.