Business news in brief

Ex–RSA chief in the frame for RBS job

ANDY Haste, former chief executive of insurer RSA, is understood to be on the short list as a possible chairman for Royal Bank of Scotland’s newly rebranded Direct Line Group ahead of the business’s planned flotation this year.

Haste quit RSA in October after eight years. Other candidates for the RBS job are believed to include Richard Harvey, former chief executive of Aviva, and Patrick Snowball, former head of Aviva UK. RBS declined to comment yesterday.

RBS Chief executive Stephen Hester last week unveiled a major profit recovery at the bank’s insurance arm.

Shoppers stay close to home to save

STRUGGLING retailers have been dealt a further blow after more than half of Scots said they would shop less frequently to save petrol, according to a survey published today.

Some 44 per cent of Scottish shoppers said they would use stores closer to their homes in order to cut down on fuel costs.

Joanne Denney-Finch – chief executive of supermarket research firm IGD, which carried out the survey of about 1,000 consumers around the UK – said: “If petrol prices continue to rise, more people might think twice before making a journey by car.”

Debenhams pair reunited at RAC

PRIVATE equity group Carlyle has hired the former finance director of department store chain Debenhams to run RAC, its roadside breakdown business.

The moves reunites Chris Woodhouse with his former boss at Debenhams, Rob Templeman, who was made chairman of RAC in 2011.

The duo worked together at the retailer on its buyout and later flotation, and have also served alongside each other at retailers Halfords and Homebase.

Woodhouse said RAC was “a fantastic business”.

Premier Foods lines up new loan deals

Premier Foods is understood to be on the brink of agreeing new bank loans that will secure the future of the maker of Hovis, Ambrosia and Mr Kipling.

Part-nationalised Royal Bank of Scotland and Lloyds are among the lenders expected to renew £1 billion of loans and extend Premier’s repayment deadline for a further three years beyond the current 2013.

It is understood that the majority of Premier’s 28 lenders are supportive of the debt deal, although one or two have reservations which could prolong negotiations for another few weeks.