News in brief: Centrica pulls out of UK nuclear build, DJ has all of G-A-Y after buy from HMV, Digital shift doesn’t make Future better

Plans to build nuclear power stations in Britain look set to go ahead without any major UK firm’s involvement after Centrica today pulled out of the project due to escalating costs and delays.

The owner of British Gas said it won’t take up its option for a 20% stake in building nuclear reactors at Hinkley Point and Sizewell. Sam Laidlaw, chief executive, said: “The anticipated costs have increased and the construction timetable has extended by a number of years.” Chinese investors are expected to get involved instead.

DJ has all of G-A-Y after buy from HMV

DJ Jeremy Joseph, the founder of London’s biggest gay nightclubs chain, has taken full control of G-A-Y Group after buying stricken retailer HMV’s majority stake, administrators Deloitte said today. HMV sold most of its music business last year, leaving just the G-A-Y bars and Heaven nightclubs. Joseph said he was “delighted” to have secured the future of his 200 staff.

Digital shift doesn’t make Future better

Moving towards digital formats wasn’t enough to stop Future, the publisher behind Total Film magazines and the TechRadar website, posting a 3% decline in revenues between October and now. Revenues from its digital division rose 24% in the period. But the falling sales were “driven mainly by the continuing managed decline of print activities in the US,” Future said.