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.”

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.