With remarkable timing, the police in Iceland launched a raid on Baugur’s offices over an alleged fraud.So finally last week Mr Green decided to go it alone. The question is, can he make a fast buck with Arcadia? Mr Green has a startling record at Bhs. When he bought it for £220m in early 2000, he managed to turn it around so fast that he could pay himself a £160m dividend earlier this year, and Bhs has now been valued at £1bn.But Arcadia was already halfway through a recovery under the guidance of chief executive Stuart Rose.However, SG Securities, the investment house, thinks that it is still possible to double the profit margins. He could turn the screw on suppliers to cut the costs.Speculators assume that Mr Green will sell off parts of the business fairly rapidly. Another option is the sale of some of Arcadia’s most valuable properties, such as its Oxford Circus Top Shop site. He could then lease them back.Mr Green has not shown his hand and revealed how he will benefit from the deal.

But Nick Bubb, retail analyst at SG, has views on the outcome. “There’s no guarantee what he’s going to do apart from make more money,” he says.. Virgin Blue, Sir Richard Branson’s Australian domestic airline, is to splash out £1bn on new aircraft to expand its fleet by almost three times. Competition bet- ween the two manufacturers has been particularly vicious as the aerospace industry has been in a significant downturn over the past 12 months.Will Whitehorn, Sir Richard’s spokesman, said the exact size of the order is still under negotiation.

However, he added that including options, the number of planes could be up to 40.Mr Whitehorn said the first tranche of planes would be delivered in late 2003 or early 2004. The decision on which manufacturer to choose is expected in the coming months.Virgin Blue has 16 aircraft but they are all on lease, and would be replaced in the new deal over a five-year period.The options will be based on whether Virgin Blue expands its operations to take flights outside Australia to Hong Kong and New Zealand.However, it is also planning to expand within Australia, where according to its own figures it now has 18 per cent of the market. But Mr Whitehorn said that the company wants to expand to gain a market share of up to 30 per cent.Qantas, its main competitor in Australia, is one of the few airline companies to have experienced good financial fortunes over the past year. Last month it unveiled profits of A$631m (£221m).Although Virgin Blue has proved a successful investment for Sir Richard, Virgin Atlantic has not been as successful.

Last month it reported a £92m loss for the year, partly as a result of the 11 September terrorist attacks, which prompted a downturn in transatlantic travel.Virgin Express, his European low-cost airline, is forecast to be in profit this year.Low-cost carriers such as easyJet and Ryanair have outperformed the traditional long-haul airlines, which are now lowering their prices in response.Many domestic carriers have fared worse, with US Airways and Swissair going into bankruptcy proceedings.Virgin Blue is believed to be considering a flotation on the Australian Stock Exchange, possibly as early as the first quarter of next year.Sir Richard now owns half of the airline, after selling off a 50 per cent stake to Patrick Corporation, an Australian transport business, earlier this year.. Chris Tarrant may have helped members of the public win a million pounds but his departure could lead Capital Radio into losing a million. However, there has been speculation that he intends to leave the breakfast show soon.Morgan Stanley estimates that the show accounts for 15 per cent of Capital’s advertising sales. Its popularity with 35- to 40-year-olds who have grown up listening to Mr Tarrant would cost it dear, says the bank, if he were to go.The bank’s analysts point to the experience of Virgin Radio, which suffered a sharp drop in listening hours when Chris Evans left.Morgan Stanley estimates that Capital’s profits will be £18m this year were Mr Tarrant to leave.A Capital spokesman said: “This is the latest in a series of notes trying to make an arithmetic valuation of a hypothetical situation.”. Private shareholders in Telewest are clubbing together to force the cable company to appoint a new director to the board to represent their interests. It is recruiting members through its website, investoraction.co.uk.Telewest has begun talks with its bondholders about restructuring £3.6bn of debts.