PRESS DIGEST – British business – Aug 28

RBS HITS OPEN SPONSORSHIP OUT OF BOUNDS

Royal Bank of Scotland (RBS.L: ) has withdrawn its sponsorship
of The Open Championship, after nine years of patronage of the
golf tournament. The bank has recently scaled back its
sponsorship commitments, ending contracts with Formula 1 and the
golfers Luke Donald and Paula Creamer.

Some observers have theorised that RBS chose to end its
sponsorship of The Open due to its association with disgraced
former boss Sir Fred Goodwin, a keen golfer.

D1 OILS CHIEF QUITS AFTER REBEL INVESTOR FORCES COLLAPSE OF
TAKEOVER TALKS

Ben Good has resigned as chief executive of the biofuels
maker D1 Oils (DOO.L: ), following the failure of takeover
negotiations with the Australian company Mission NewEnergy
(MBT.AX: ).

Whilst the merger had the support of the board and 41
percent of shareholders, it failed to take place largely because
of a lack of support from the former chairman Brian Myerson,
whose Principle Capital investment vehicle still owns 27.5
percent of the company.

The Independent

ROLLS-ROYCE ENGINE DELAY STALLS 787 DELIVERY

There has been a further delay in Boeing’s (BOE.L: ) delivery
of its new 787 Dreamliner aircraft, due to the late arrival of
the Rolls-Royce (RR.L: ) engines necessary for test flights.

Production of the new aeroplane is already two years behind
schedule, and technical issues may push the arrival of the first
787s out to early 2011.

The late penalties which Boeing has paid to buyers of the
787 are thought to amount to over five billion US dollars.

DANA REPORTS 274 PERCENT JUMP IN PROFITS AS IT PREPARES TO
FEND OFF KNOC’S 1.9 BILLION DOLLAR BID

The Aberdeen-based oil and gas explorer Dana Petroleum
(DNX.L: ) has reported a 274 percent increase in pre-tax profits
to 82 million pounds during the first half of 2010.

The company was silent about future acquisition targets,
following its purchase of Petro-Canada Netherlands earlier in
August.

There was no update on the expected 240 million pound
acquisition of North Sea oilfields from Canada’s Suncor Energy
(SU.N: ). Dana was itself the target of a takeover approach from
the Korea National Oil Company last week, but rejected the 18
pounds-a-share bid as undervaluing the company.

PRESS DIGEST – British business – Aug 28