Interesting about Cullum. Don't remember this being picked up

The Express

January 4, 2008 Friday
U.K. 1st Edition

BLACKFRIAR;
CITY AND BUSINESS EDITED BY STEPHEN KAHN

SECTION: CITY; 67

LENGTH: 269 words

JAPAN LEISURE had grand plans to build a substantial business in Japanese "love hotels". These provide shortstay rooms for couples struggling for privacy in the country's overcrowded cities.

But the course of true love seldom runs smoothly and the firm has struggled to woo investors.

Originally, it hoped to raise GBP 100million through a November Aim flotation, valuing it at GBP 200million. Now the company is seeking a more modest GBP 3million in a mid-January float, valuing it at GBP 22million.

INSURANCE billionaire Peter Cullum has headed Management Today magazine's list of Britain's 100 "most dynamic" entrepreneurs. Over the past 10 years he has built his company Towergate Underwriting from nothing to a value estimated at GBP 3 billion. His total wealth was put at GBP 1.7 billion.
It is understood he will channel some of his immense wealth into football interests in 2008.

STABILITY is returning to Max Petroleum. The Kazakhstan-focused oil producer has appointed a new chief executive, Mark Johnson, after firing the former boss and six other staff following an investigation into share options. As part of his 26 years in the industry, Johnson established oil giant Texaco's first subsidiary in Kazakhstan.

INDIA is one of the biggest Asian investors in the UK economy. It is no surprise, then, to see the country's government investing GBP 3.2million to set up a Professorship of Indian Business at the University of Cambridge.

The professor will be assisted by a PhD student, sponsored by oil giant BP. This could prove a far-sighted move. Chances are students will become top Indian business leaders and if they remember their Cambridge days with fondness, then it can only be to the UK's benefit.

Posted By: Dion 13 inches, Jan 21, 14:26:12