Business and City Summary

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The Independent Online

Sir Bob Scholey, the outgoing chairman of British Steel, received a 15 per cent pay rise to pounds 331,361 last year even though the company plunged from a pounds 254m profit to a pounds 55m loss. The salary of the chief executive also rose from pounds 235,000 to pounds 255,000. Brian Moffat took on the post last July.


Gwent County Council pension fund is the latest to embrace passive management, which seeks merely to track stock market indices rather than beat them. New managers are being sought for the pounds 300m fund. About pounds 200m will go to a passive manager and the rest to a traditional active manager.

TODAY 6.7.92

Credit business (May). Cyclical indicators for the UK economy (May).

Interims: Evode Group.

Finals: Asda, Associated Nursing Services, Daejan Hldgs, Platignum, Reliance Security, RPH, Scottish & Newcastle, Tiphook, Wilshaw.


Interims: Gresham Telecomputing, P&P, Securicor, Securiguard, Security Services.

Finals: Associated British Engineering, Bimec Inds, Colefax & Fowler, Creighton's Naturally, Evans of Leeds, Howden, Kakuzi, Oceanics, Real Time Control, Seeboard, Torex Hire, Yorkshire Electricity (Amd).


Interims: Cattle's (Hldgs), Gardiner Group, M&G Dual Trust, Newman Tonks.

Finals: Bespak, Bogod, Budgens, Dixons, Eastern Electricity, French Connection, Gibbon Lyons, Hollas, Tops Estates.

Annual meetings: Allied Irish Banks, Atkins Group, Borthwicks, Eidos, IFG Group, Warnford Inv.


Unemployment figures, average earnings.

Interims: Domino Printing Sciences, Eurocamp, A Kershaw & Sons, Rank Organisation.

Finals: Banner Homes, Burtonwood Brewery, Greene King, Harland Simon, Jurys Hotel, Scottish Hydro-Electric, Stanley Leisure, Stewart & Wight, Symonds Engineering, Reg Vardy.

FRIDAY 10.7.92

Retail prices index.

Interims: Malvern UK Index Trust.