Mail on Sunday

WHEN is a police officer not a police officer? It sounds like a daft Christmas cracker question but it's one I pondered on a recent trip to Middlesbrough. While the traditional bobby on the beat is a rarity in most towns, I noticed that the streets of Middlesbrough were awash with men and women in uniform.

Debt Fears Stalk the High Street ; Price Cuts and Over-Borrowing Will Push Firms to the Brink, Financial Mail

BANKS and accountancy firms have been put on alert amid warnings that poor Christmas trading could push fragile businesses including some well-known High Street names over the edge. The bleak picture emerged after warnings that cheap finance has encouraged many businesses to borrow too much. This leaves them increasingly vulnerable to collapse as consumer confidence, the engine driving the economy, weakens.

Ringmaster Lifts Sales at the Big Top ; Financial Mail

THE Big Top has become big business for Guy Laliberte, the founder of Cirque du Soleil, whose latest show opens in London and Manchester this week to further swell the bank balance of the Canadian. Since Laliberte, 45, set up the business 20 years ago with a troupe of 73 performers touring Canada, Cirque du Soleil has become one of the world's great entertainment franchises, making its owner very wealthy and attracting celebrity endorsements from the likes of supermodel Naomi Campbell.

Energizer to Spark Durex Group Battle ; American Battery Giant Lines Up Bid for Ssl International, Financial Mail

AMERICAN battery group Energizer is preparing a move for SSL International, prompting a likely bidding war for the Durex-to-Dr Scholl sandals group. Energizer is thought to have retained Goldman Sachs as its banker for a possible deal, but it is understood that several other bidders are lurking in the wings for the British group.

Interflora Rejects Mystery Bid

INTERFLORA directors, who stand to gain if a deal to sell the florists' network to venture capital firm 3i goes through, turned down a better offer for the business. They received an offer 20 per cent higher than 3i's Pounds 23.3 million, which the board of the florists' network hopes members will vote through on January 23.

Cadbury in Birthday Spree ; Financial Mail

SWEETS giant Cadbury Schweppes will bid a happy 100th birthday to its best-known brand this year with a Pounds 20 million marketing campaign for Dairy Milk, writes Andrew Leach. Turning a blind eye to Government concerns about diet and obesity, the company will launch the biggestever marketing push for the chocolate bar, which is bought by 65 per cent of the population and enjoys annual sales of Pounds 320 million.

House Buyers Rule

MORE than six out of ten househunters believe prices will continue to fall this year, according to research by property website assertahome.com. The findings follow figures from Nationwide building society last Thursday showing that house prices fell 0.2 per cent last month.

Germans Lose Appetite for Euro ; Financial Mail

THE euro may be legal tender for much of the Continent, but it is not the 'single currency'. The franc, mark and lire vanished six years ago, but in their place is springing up a dense undergrowth of do-it-yourself currencies as recession-mired regions seek to pump purchasing power back into their communities.

Double Court Battle Could Force Equitable Somersault ; Financial Mail

A LEGAL tangle could hinder Equitable Life's Pounds 2.1 billion High Court battle against auditor Ernst Young, scheduled for the spring. The troubled insurer's lawyers face the awkward prospect of having to argue two potentially opposing cases before the same judge.

The Apocalypse Is Off As Smart Shoppers Rule ; Financial Mail

Reasons to be cheerful this New Year appear to be few and far between. House prices, if not heading down, have lost momentum. And if consumer spending did not already appear iffy, there is the certainty of higher fuel bills and council tax to take into account.

Capital Safety Aims High in Pounds 150m Sale ; Financial Mail

CAPITAL Safety, which designs and manufactures safety harness equipment for venues such as Wimbledon's Number One Court and Glyndebourne Opera House, is up for sale at about Pounds 150 million. Private equity group Electra Partners, which backed the management buyout of the company in 1998, has appointed adviser Close Brothers to manage the sale.

Euro Firms Allowed to Escape Uk Laws ; Gaps in 'Muddled' Corporate Rules Lead to Fears of Unregulated Businesses, Financial Mail

A NEW breed of 'Euro company' can now set up in Britain and escape key aspects of UK regulation, Financial Mail has learned. The 'Euro plcs' can evade many national laws and have the right to challenge any official takeover rulings.

Triumph Back in the Red ; Financial Mail

THE troubled Triumph motorcycle firm continues to be dogged by bad fortune. Two decades ago it was in the hands of liquidators and in March 2002 its factory in Leicestershire was destroyed by fire.

If I'm Fired I'll Play in a Band ; the Interview,Stung by Lurid Headlinesand Setbacks in a Bid for the Stock Exchange,Werner Seifert Reveals His Back-Up Plan, Financial Mail

Werner Seifert, the millionaire boss of the Deutsche Borse, has had better Christmases. Instead of celebrating a swift takeover of the London Stock Exchange, he was nursing a king-size blow to his immediate ambitions and reputation.

Rivals Turn Sour Over Cream Liqueur Name ; Financial Mail

A BARROOM brawl has broken out between British and Irish drinks firms over rival cream liqueurs sold in the United States. TJ Carolan Son of Clonmel, Tipperary, accuses the UK's Diageo of launching a brand whose name too closely resembles its product.

Six Picks to Pack Away for the Year ; Financial Mail, Midas

HAVING drawn a discreet veil over a disappointing 2004, Midas enters the New Year confident that our portfolio approach to stock selection will produce better results. We will continue to highlight shares for their potential capital gain, rather than income growth, over the coming 12 months.

Confidence Grows As Market Ends On High ; Financial Mail,Share Prices,Taking Stock

THE stock market has ended on a high note for the second successive year, and with analysts predicting another 12 months of share price gains, it is safe to say that the City's traders will be enjoying a relaxed New Year weekend. On Friday lunchtime as the City closed early for the New Year, the FTSE 100 stood at 4,814, up almost eight per cent over the year.

Next Leads the Retail Charge ; Financial

FASHION chain Next takes centre stage on Thursday when it kicks off a round of announcements from retailers detailing how well they fared over the crucial Christmas period. The group, headed by chief executive Simon Wolfson, is expected to show that it has done better than many of its rivals.