Channel Islands

Errors have been found in the accounts of Tesco Property Holdings (TPH) filed with Companies House. The mistakes include the understatement of property market values and administration costs.

Hilton is thought to want to resume aborted negotiations with Six Continents (6C) about possibly merging the two hotel groups. 6C owns hotel brands such as InterContinental and Holiday Inn.

Morgan Sindall has reported a drop in annual pretax profits from £20.8m to £15.5m. References: The Times 12/02/03 page 26 (Results in brief) .

The Financial Services Authority is considering introducing rules to protect consumers who invest in risky commercial property funds. Sir Howard Davies told an industry conference there was ample scope for…

Baguar, which has taken a 0.5% stake in Selfridges, is understood to have no plans to make a takeover bid for the company, says The Times.

Westdeutsche Landesbank is threatening to mount a hostile takeover attempt of AWG if directors refuse to discuss its £900m offer. WestLB is working with Bream Investments, formed by Gordon Morrison,…

The Treasury has laid an order that will strengthen the role of the National Audit Office (NAO). It means private-sector companies that win government contracts will have to open their…

Office fit-out specialist Morgan Sindall rose 1.5p to 202.5p on hopes that todays annual results would meet reduced forecasts. A consensus full-year pretax profit forecast of £25.7m at Morgan Sindall…

Traders say Land Securities has been oversold recently. The comment moved the shares 9.5p higher at 753p. References: The Daily Telegraph 11/02/03 page 30 (The Market) .

Waitrose will call for all bids for Safeway to be referred to the Competition Commission. It will write to the Office of Fair Trading today, arguing consolidation could reduce consumer…

AWG has spurned a £900m informal approach from WestLB. AWG said it understood Gordon Morrison, brother of Sir Fraser Morrison, was involved with the approach.