PRESS DIGEST - British business - March 29

The Times

BA FACES 250 MILLION POUND THREAT TO PROFITS.

British Airways (BAY.L: Quote, Profile, Research) could face a 250 million pound a year loss in profits due to the sweeping away of restrictive rules that govern transatlantic air travel. From Saturday, BA will face increased competition on its most lucrative routes as the "open skies" era begins. The agreement allows any European carrier to fly to any U.S. city. A BNP analyst, Geoff van Klaveren, said: "BA has had a protected position at Heathrow and that will be impacted by open skies."

FORTRESS TAKEOVER OF MAPELEY COLLAPSES AMID CREDIT CRUNCH

Negotiations that could have resulted in a takeover offer for Mapeley (MAY.L: Quote, Profile, Research) have collapsed. Last month, the hedge fund Fortress proposed an offer, believed to be worth about 19 pounds a share, but problems in raising finance in U.S. money markets are thought to have led to its collapse. On Friday, Mapeley's shares fell from 15.57 pounds to 13.21 pounds, and their value has more than halved over the last year.

JARVIS WINS NEW CONTRACT

Jarvis (JRVS.L: Quote, Profile, Research) saidit had won a new track renewal and signalling contract from Network Rail. The agreement is worth more than 40 million pounds and the company said it expects to see improved trading in the second half compared to the first half. Jarvis also revealed it expects full-year results to be in line with its expectations.

The Daily Telegraph

SLIDE AT PETER JONES DULLS JOHN LEWIS' SHINE