Business News In Brief

Property

Canadian manager joins bidders for Regent Street

Canadian fund manager PSP has emerged as the fourth shortlisted party vying to buy part of the Crown Estate's £1.6bn Regent Street portfolio.

PSP joins fellow Canadian fund manager Oxford Properties, Australian fund manager Future Fund and the real estate arm of the Norwegian sovereign wealth fund Norges. The Crown Estate, advised by CB Richard Ellis, is selling a 25 per cent stake with an asking price of around £400m.

Retail

Chinese furniture firm to take a seat in Europe

Forbidden City, a Chinese luxury furniture brand, is to launch in the European market with exhibitions in Chelsea and Mayfair showrooms this week. The company has three ranges of contemporary furniture. Its entry into Europe is being promoted by the Hong Kong Trade and Development Council. David Marsden, the council's UK director said: "Bilateral trade between the UK and Hong Kong exceeds $10bn a year."

UN

Ban Ki-Moon seals Global compact deals

The UN Secretary-General, Ban Ki-moon, has pulled off a number of private partnership deals as part of the "Global Compact" and the Millennium Development Goals, writes Irene Hell in New York. The deals include a promise by Cherie Blair to support 100,000 female entrepreneurs through her foundation and a commitment by the Indian company Water Health International to proved clean water to more than 175,000 people.