Business news in brief: Jaguar | Yellow Pages | Solar Electricity Systems

JAGUAR LANDROVER, the iconic British car maker that is owned by Tata of India, may set up a plant in Saudi Arabia.

Group chairman Ratan Tata said in an interview in India at the weekend that a low-cost aluminium smelter in Saudi Arabia could create opportunities for Jaguar Landrover.

The Saudi smelter, a joint venture between Alcoa and Saudi Arabian Mining Company, starts production next year and Tata said: “This could make the production of aluminium very competitive. We could have an interesting business case that we are examining today.”

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Yellow Pages turned over to the banks

The publisher of Yellow Pages is set to be taken over by a massive syndicate of banks under plans to tackle its £2.2 billion debts, it was reported at the weekend.

More than 400 banks and bond investors are said to have started work on a financial restructuring that will see a large chunk of the debts wiped out in return for control being handed to lenders.

Retailers expecting Olympic ‘afterglow’

High street retailers failed to enjoy an Olympics boost last month – but an “afterglow” effect could boost consumer confidence this month, claims a new survey published today.

Accountancy firm BDO’s monthly report found that like-for-like sales fell by 0.5 per cent year-on-year in August at mid-tier retailers that turn over between £5 million and £500m a year.

Sun shines on Solar Electricity contract

A renewable energy firm in Glasgow expects to nearly double its sales this year after signing a distribution deal with a Portuguese company.

Solar Electricity Systems forecast that its revenues will hit £18 million this year compared with £10.5m in the previous 12 months after it starts acting as the sole Scottish distributor for panels made by Energie, which are used to heat water in homes.