That seems odd because everyone is getting out of the industry, but it's not incongruous to go in at a mature level ... [perhaps] to bring finance to the table." In a statement, he said he would explore opportunities in non-competing hi-tech areas.NXT yesterday reported like-for-like losses of £6.1m, compared with £6.5m, for the six months to 31 December Sales rose 40 per cent to £2.6m.. The government's rail franchising programme was plunged into further disarray yesterday after the Strategic Rail Authority scrapped plans to re-let the Central Trains franchise. The government's rail franchising programme was plunged into further disarray yesterday after the Strategic Rail Authority scrapped plans to re-let the Central Trains franchise. Mike Grant, the SRA's chief executive, defended the decision on the grounds that neither of the two competing bids from National Express and Group 4 offered sufficient benefits for passengers and taxpayers.The decision makes it even less likely that the SRA will meet its target of re-letting the 16 short-term franchises by the end of this year on new 20-year leases.

Only two have so far been successfully re-tendered - Chiltern and South Central.The delay is likely to prove embarrassing to the SRA and the Government since billions of pounds of investment in new rolling stock and stations hinge on the franchises being re-let.National Express, the current operator of Central Trains, said it was "surprised and disappointed" by the announcement. A spokeswoman added that its plans for the franchise, which provides urban and rural services in the East and West Midlands, Wales, East Anglia and Lincolnshire, involved a doubling of services, 200 new trains and heavy investment in new lines.The current seven-year franchise, which is due to expire in 2004, was put out for re-tender almost a year ago. However, Mr Grant said the SRA was not satisfied with the value of the bids received. "We have always said that we would not agree longer franchises unless we were satisfied that they offered sufficient benefits to passengers and taxpayers," he added.. Anil Bhoyrul, one of the City Slickers sacked by The Mirror over allegations of improper share dealing, has settled his claim for unfair dismissal against the newspaper's owners. Anil Bhoyrul, one of the City Slickers sacked by The Mirror over allegations of improper share dealing, has settled his claim for unfair dismissal against the newspaper's owners. Mr Bhoyrul has withdrawn his claim against Trinity Mirror in return for a financial settlement before a potentially embarrassing hearing at an employment tribunal that had been due to take place next week.The Mirror's editor, Piers Morgan, and Trinity Mirror chairman, Sir Victor Blank, were both expected to be crossexamined by Mr Bhoyrul's lawyers in a case that would have attracted maximum publicity. The terms of Mr Bhoyrul's "pay-off" are confidential but it is understood to exclude his legal costs.Mr Bhoyrul was sacked almost a year ago with James Hipwell, with whom he wrote The Mirror's share-tipping column, City Slickers.

Trinity said both journalists had broken their terms of employment by ignoring press rules on buying shares.The scandal ended with Piers Morgan being severely censured by the Press Complaints Commission in May for buying shares before a City Slickers' tip.A spokesman for Trinity Mirror confirmed yesterday that the employment tribunal case "is not proceeding".. Leading City fund managers have warned the European Commission that plans to force asset management firms to adopt tough new solvency guidelines will add to their operational costs and threaten to drive the industry offshore. Leading City fund managers have warned the European Commission that plans to force asset management firms to adopt tough new solvency guidelines will add to their operational costs and threaten to drive the industry offshore. The new EU proposals follow last month's publication of the revised Basle accord, which for the first time will require banks to set aside capital to cover potential market losses. The EU regime, which underpins the enforcement of the capital adequacy rules, applies to fund management firms as well as banks. This is in contrast to the US and Japan, where fund managers are outside the regime and are therefore unaffected by the planned overhaul of the global capital adequacy rules.Michael Haag, general secretary of the European Asset Management Association, the industry lobby, said that the Basle rules were designed to combat systemic risk "The asset management industry poses no systemic risk.

It is inappropriate and misguided to set the capital requirement at a significantly high level," he said.He warned: "The proposals are excessive and particularly damaging to the European industry. This is a highly competitive industry, which faces a strong challenge from the US. If these go ahead the industry will simply move offshore."The existing EU regime requires investment management firms to set aside the equivalent of 13 weeks' expenses. Following the introduction of the revised Basle accord, the Commission is proposing to replace that with a new requirement on firms to set aside a sum based on the total funds under management. The industry believes that the existing regime has worked well and should be maintained.The FSA is aware of the UK industry's concerns but is worried that any attempt to push for special treatment would delay the adoption of the directive.. Women are increasingly setting up their own businesses so they fit their working lives around their families rather than having jobs that leave them no time for their children. Women are increasingly setting up their own businesses so they fit their working lives around their families rather than having jobs that leave them no time for their children. A study released by the Government's Women's Unit yesterday showed that women started up 35 per cent of new businesses in Britain, compared with 19 per cent in 1979.

Two-thirds of the female entrepreneurs were women aged between 35 and 54. One in three businesswomen worked from home compared with just 12 per cent of businessmen, the report by a British and Swedish group of researchers said.It showed that despite the trend for more women to set up businesses, they still made up only 27 per cent of the self-employed workforce in the UK and 25 per cent in Sweden.Baroness Jay of Paddington, the minister for Women, said: "Although there has been a steady growth in business start-ups by women, an even higher rate is essential to stimulate greater innovation and employment.". British Telecom has posted worse than expected third quarter profits. British Telecom has posted worse than expected third quarter profits. The firm said its pre-tax profit of £760 million were hit by interest payments on its massive debts.The figure still represents a £91 million rise on the previous year.Profits were bolstered by a one-off £434 million gain from asset sales and a rates refund..City analysts had predicted pre-tax profits of about £1 billion.. The Bank of England today cut interest rates by a quarter of one percent to 5.75 percent.