Now GSI will extend its search to an additional 50,000 sq km awarded solely to Falkland Oil on 7 December.. The vessel GSI Admiral sets sail today at the start of a five-month seismic survey of the oil-bearing prospects around the Falkland Islands on behalf of Falkland Oil & Gas. Geophysical Services Incorporated (GSI) was already contracted to undertake the first 2D seismic survey for more than 10 years on Falkland Oil's initial licence area of 33,000 sq km, where it has a 77.5 per cent stake The other 22.5 per cent is owned by Hardman Resources. A £35m upfront payment will be followed by instalments of more than £4m a year for three years.But when the BFG deal has gone through, the Iceland chain will be sold to a separate consortium, while Baugur and Mr Hunter will buy most of the group's property for more than £210m. That will leave BFG with Woodward Foodservice and Booker cash and carry.. That is likely to be conferred by the end of next month.Institutional investors controlling about 20 per cent of Big Food's shares have pledged their support for the deal. Their holdings will in effect have a 25 per cent say, because Baugur cannot vote its 22 per cent stake.Giant TopCo is to inject a total of £49m into BFG's pension scheme, to reduce a £192m deficit. Its shares have been as high as 180p this year.The purchase will have to be voted on by shareholders, and is then being put into effect through a scheme of arrangement, which requires court approval.

Last June it bought 19.5 per cent of China's Chongqing Brewery.Beer accounts for just 10 per cent of alcohol sales in India, which has a population of more than 1.1 billion. The market has grown by 9 per cent a year over the past five years and is likely to keep increasing, aided by an expanding economy and government deregulation. United Breweries and Scottish & Newcastle will control half the market.The partnership is an opportunity to bolster Kingfisher by distributing the brew through Scottish & Newcastle's network. Ravi Nedungadi, the chief financial officer of United Breweries, said: "The present joint venture is limited to India, but growing the Kingfisher brand in other markets is part of our plan."Scottish & Newcastle's international beer division had sales of £90m last year.. Malcolm Walker said yesterday he was determined to take on the supermarket giants when he resumes control of the Iceland chain and returns it to its frozen food roots. The company, which holds the biggest shares of the UK and French beer markets, started a joint venture with United Breweries in May last year.

Scottish & Newcastle, Britain's biggest brewer, is spending up to £88m on 37 per cent of United Breweries, the Indian brewer which makes Kingfisher beer. Most of the stake is being bought in the open market, with the rest flowing from Scottish & Newcastle selling its Indian beer business to United Breweries. The Edinburgh-based company brews Kronenbourg 1664 and Maes Pils.The investment includes £28m for redeemable preferred stock in United Breweries. Controlling shareholders, led by the chairman Vijay Mallya, have agreed to reduce their stake until it matches Scottish & Newcastle's.The deal is another step by Scottish & Newcastle to expand in emerging markets, where beer consumption is growing more quickly than in Western Europe. We must ensure that companies who go down this route are doing so as part of a long-term business plan and not because they perceive the UK as a poor location for manufacturing."On a rating of 1 (negative) to 5 (positive) the UK scored below 3 on five out of six competitiveness indicators - transport, planning, other business costs, taxation and regulation. Only skills availability was regarded as having a neutral impact on businesses Regulation was seen as the most negative factor in the UK..

If UK and EU policymakers do not commit to measures that will free up enterprise and make their economies more dynamic, there is a danger the eurozone will be left standing on the platform. In addition, two-thirds of companies said their dominant focus was on increasing innovation, with 46 per cent saying they were also developing niche markets and customising their products.Commenting on the survey, the EEF's director-general, Martin Temple, said: "These results prove that manufacturers are well placed to succeed in an increasingly competitive environment by adopting strategies which focus on adding value in the UK, while making best use of the options that low-cost manufacture overseas gives them.""However the figures provide a stark warning that the low-cost economies of the east are arriving like an express train. Manufacturers are slashing costs in a desperate effort to ward off what they see as growing threats from China, India and Eastern Europe, according to the latest report from the Engineering Employers Federation (EEF). According to the EEF almost half of manufacturers said that more production would take place outside the UK over the next five years, with the primary reason being to achieve cost reduction (86 per cent) A further one-fifth were considering outsourcing. This report highlights the accountability problems in the sector, revealing that half of all mutual life insurers have no audit or remuneration committee - a requirement that is mandatory for publicly quoted companies.The FSRF also reveals that the market share of mutual life offices has declined significantly over the past decade, from about 50 to just 17 per cent of the life insurance market, as an increasing number of the largest companies have chosen to demutualise.. They include all remaining building societies and a handful of life insurers, such as Standard Life.Mr Myners' latest report coincides with the publication of another piece of research looking into standards in the mutual life insurance sector, published by the Financial Services Research Forum (FSRF). An opening promotional rate of £80 per double is available Sunday-Thursday.The addressSquare (01273 691777; ), 4 New Steine, Brighton BN2 1PB..

"Hello! Did you find the centre of Britain?" he asked with a smirk."Yes, it was really impressive," we lied. "Glad we made the effort."GIVE ME THE FACTSWhere to StayThe Hark to Bounty Inn, Slaidburn, Clitheroe, Lancashire (01200 446246; ) offers double rooms from £59.50 per night with breakfast. The Inn at Whitewell, near Clitheroe, Lancashire BB7 3AT (01200 448222) has doubles from £94 per night with breakfast. Open peat fires cost £6 extra.What to doBikes can be hired from Higher High Field, Slaidburn (01200 446670). Bowland Wild Boar Park (01995 61554); Bashall Barn (01200 428964).Further informationBowland Visitor Centre, Beacon Fell Country Park (01995 640557; ) and Lancashire Countryside Service (01772 534709) has details of guided walks and other activities. The Bowland Transit system makes linear walks possible; its buses will also take bikes and deviate off the route to pick up passengers (01995 618 25)..