Phones4U sale

ONE of Britain's richest men today put his Phones4U retail business up for sale, after a number of approaches from potential suitors.

Midlands billionaire John Caudwell, who set up the operation in 1987, said he had delayed the sale of his fixed-line telecoms arm Caudwell Communications and was instead inviting offers for the wider Caudwell Group.

The company, which has annual sales of more than £2bn and employs 8,500 staff, said it had received "many offers" from buyers interested in all or part of the group

Crime threat

CEOs and boards need to be vigilant about the threats posed by a global organised crime industry that has the capacity to be able to bring down firms at will.

For while the audit process can identify financial risks, UK businesses of every size are at risk from the activities of cyber criminals, including digital fraud and extortion.

That is the message DK Matai, chairman of bespoke online security firm mi2g, will deliver to delegates at tomorrow's Chartered Institute of Management Accountants yearly conference in London.

Oil export blow

THE status of the UK as an oil exporter was dealt a new blow by data showing that the economy again relied on imports of crude in September.

Not since records began a quarter of a century ago has the UK shipped in more oil than it sold overseas for two months in a row, the Office for National Statistics said.

Imports outstripped exports of oil to the tune of £200m in September - following a deficit of £500m during the previous month.