10 07 17

Sir Trevor Nunn is an English theatre director who was artistic director of the Royal Shakespeare Company from 1968 to 1986 and of the National Theatre from 1997 to 2003.

He has directed world premieres of Cats, Sunset Boulevard, Starlight Express and Aspects of Love by Andrew Lloyd Webber, among many productions in Britain and on Broadway. Nunn, 77, lives in London and has five children.

He is currently directing Dessert by Oliver Cotton at the Southwark Playhouse in London.

How did your childhood influence your work ethic and attitude to money?

I was born during the war and brought up in a working class household in Ipswich during a time of rationing and the pretty constant threat of unemployment.

My dad was a carpenter so there wasn’t a great deal of money to live on. Having very little was a constant worry for my parents. But we were a very happy family in spite of it. My work ethic…

10 07 17

ritish specialist engineering services provider TP Group is embarking on a fundraising to build up a £23.9m war-chest as it eyes acquisition targets in the defence, aerospace and government sectors.

The Aim-listed company, which supplies oxygen generating systems for Royal Navy submarines, unveiled plans to issue 368,044,411 new ordinary shares at a price of 6.5p apiece. Some £20m will be raised through a firm placing and approximately £3.9m by an offer offer.

Most of the money raised will be used to finance an ambitious acquisition programme, while the remaining funds will be used to fund investment opportunities in the existing business.

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TP Group’s shares have surged 66pc since November. Data source: Bloomberg

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ValuesTP Group’s shares have surged 66pc since NovemberData source: BloombergMid PriceJul ’16Oct ’16Jan ’17Apr ’17Jul ‘17246810Highcharts

Directors of the Hampshire-based business has already identified 20 potential acquisition opportunities and entered discussions with ten. It aims to announce its first purchase in the second half of this year.

All takeover targets will be earnings enhancing in the first year following the acquisition and help TP achieve annual revenues in the range of £90m-£100m by 2020.

Chief executive Phil Cartmell said the strong support from shareholders represents “a clear validation of the significant progress TP Group has made over the last two years”, having acquired business and won sizable contracts – including a framework contract with the Ministry of Defence which has a potential value of up to £22.5m.

He added: “The Board firmly believes the defence, aerospace and government sectors offer scope to accelerate our growth and the strengthening of our balance sheet will enable management to work quickly to consolidate what we believe to be highly fragmented markets.”

In 2016, TP, which has a market cap of £30.6m, recorded its first profitable year and made a number of management changes, including the appointment of Derren Stroud as chief financial officer.

Since hitting a nadir in November last year, shares have surged by more than 65pc, bolstered by the acquisitions of ALS Technologies and Flexible Software Solutions in February and contract wins.

10 07 17

Carillion shares plummeted by more than 35pc in early trading as the support services group said its overall performance was expected to be below previous expectations and that it had parted ways with its chief executive.

Carillion said that Richard Howson had stepped down as chief executive after two years in the job, although he is to stay with the company for up to a year to support the transition.

Keith Cochrane has been appointed interim chief executive while the search begins for a permanent successor.

It comes as the FTSE 250 company warned that full-year revenues would be lower than expected amid “difficult” markets and withdrawals from certain territories.

Carillion, which maintains railways, roads and military bases, said it was beginning a “comprehensive review of the business and capital structure”.

It has left the construction markets in Qatar, Saudi Arabia and Egypt, and said it is only undertaking future construction work “on a highly selective basis”.

“Despite making progress against the strategic priorities we set out in our 2016 results announcement in March, average net borrowing has increased above the level we expected, which means that we will no longer be able to meet our target of reducing leverage for the full year,” said Philip Green, non-executive chairman.

“We have therefore concluded that we must take immediate action to accelerate the reduction in average net borrowing and are announcing a comprehensive programme of measures to address that, aimed at generating significant cashflow in the short-term.”

In December, Carillion said the pace of work had slowed in the second half of 2016 partly because of a pause in work from the Government following the vote to leave the EU.

10 07 17

Frank de Boer is set to make Chelsea midfielder Ruben Loftus-Cheek his first signing as Crystal Palace manager.

De Boer is close to taking Loftus-Cheek on a season’s loan after winning the race to sign the England under-21 international ahead of competition from Newcastle, Southampton and Brighton.

Chelsea sources have revealed that Loftus-Cheek is expected to complete the form

The 21-year-old made only six appearances for  the Premier League champions last season and De Boer has moved quickly to bring him to Selhurst Park.

Palace are the only top-flight club not to make a signing so far this summer but the capture of Loftus-Cheek will kick-start De Boer’s recruitment drive ahead of the new season.

Loftus-Cheek becomes the latest Chelsea youngster to secure a loan move away from Stamford Bridge, after Tammy Abraham and Kasey Palmer joined Swansea and Huddersfield respectively.

Nathaniel Chalobah is in talks over a permanent move to Watford while attacking midfielder Izzy Brown could sign for Brighton on loan this week.

Chelsea are expecting a busy week of transfer activity in the next few days after completing a £35m deal for Roma defender Antonio Rudiger.

Conte’s squad fly out to the Far East for their pre-season tour next week and are working on a number of deals, including Monaco midfielder Tiemoue Bakayoko.

Diego Costa’s future remains uncertain and it is thought unlikely that he will be joining his team-mates for the flight into Beijing next Tuesday.

Chelsea’s squad return to their Cobham training base on Monday – though Rudiger will not be present after being given time off following his participation in the Confederations Cup for Germany – but it is unclear whether Costa will be there.

Last month Costa was informed by text message by Costa that he is no longer required at the title winners and he is angling for a move back to former club Atletico Madrid.

Atleti cannot register any players until January due to a transfer ban but there is a sense that Costa will return, possibly by playing for another club on loan until the New Year.

10 07 17

For three golden minutes of a three-Test series the Lions were ahead on the scoreboard. At the end of a six-week tour they were level with the All Blacks. These achievements – much bigger than they sound – have tempted Warren Gatland to put his name forward again in 2021, after John Spencer, the manager of this trip called him “the best head coach in the world”.

At the team hotel the morning after the night before, Gatland made a startling revelation: “My wife asked me about three weeks into it, ‘how are you enjoying the tour?’ – and I said ‘I’m hating it’.” The hostility picked up by Gatland’s family was souring his experience of travelling round his homeland. But all the while the man who led the victorious tour of Australia four years ago was also detecting signs of vulnerability in the All Blacks. “Hating it” turned to hope, then to one hell of a series.

Sir Ian McGeechan remains the supreme commander of these raiding parties, with two tours as a player and four as head coach, in 1989, 1993, 1997 and 2009. Gatland, though could yet become a three-Tour leader, unless the All Blacks make a move for him after his contract with Wales ends in 2019. On Saturday night here in Auckland, the players were unsure whether to treat a draw as an outcome worth celebrating. Surely it was, in the context of New Zealand’s World Cup wins in 2011 and 2015, their terrifying home record and the intensity of the schedule, which prompted Gatland to think he was probably on “a hiding to nothing”.

On 2021, he said: “Yeah, possibly. It’s up to the board and the Lions isn’t it? I’m definitely, definitely finishing up after the World Cup with Wales, no matter what. They may get rid of me before the World Cup. I would have been there for long enough and so I don’t know what I’m going to do post-2019.

Warren Gatland arrives at Lions press conference wearing clown nose

“There’s a possibility that if the opportunity came again it would be something you would consider. The South African thing is a little bit easier in terms of the time frames and the travel and getting there. We’d hope also that we don’t let the next four years go before we start planning and putting things in place.

“Discussions need to take place about just having some reasonable preparation time. I’m not being stupid, I’m not asking for a month. I think a week in the UK or Ireland beforehand, then arriving in South Africa for a week before the first game is reasonable.”

These were not the thoughts of a coach heading for the beach two years from now. Gatland was using his deep knowledge of New Zealand rugby to plot its downfall, or at least stop it fulfilling the prophecy of an easy 3-0 win. As Spencer said, the Lions “set a Kiwi to catch a Kiwi”.

A tourist in 1971, when the Lions last won here, Spencer went on: “Warren was very interesting in the team talk to the boys. He talked about going after the All Blacks, not watching them play, or altering our style of play to meet theirs. We were going after them, they were going to have to cope with us, and that’s what happened.”

Three minutes might not sound a lot to be ahead against the All Blacks in Auckland, Wellington and Auckland again, but the physical commitment and psychological resilience displayed by Gatland’s squad left an imprint on New Zealand rugby in the run-up to the 2019 World Cup. England, above all, will have sniffed an opportunity. The mass retirements of illustrious All Blacks in 2015 has been concealed by rhetoric and wins against countries who lacked a sense of how to test them, as Ireland (in Chicago) and the now the Lions have.

Gatland found ways of undermining his homeland. He told us: “From my experiences in the past – having lived in Ireland and England and now Wales – if you have some understanding of the culture you’re going to, it gives you a massive advantage. I was lucky enough that when I went to Ireland at a young age, I’d studied Irish history at university. I had that understanding of the relationship between the north and the south and independence – all those things.

“In the past people have come to New Zealand and haven’t been quite prepared for culturally what they’re facing. So we’d made sure that we prepared properly, in terms of the welcomes and having to sing and stuff. And then understanding, as a Kiwi, that everyone has strengths and weaknesses in their culture, as a country. There are strengths in New Zealand as a nation, in terms of the isolation and being so far away, and galvanising themselves to have a go at anything. But there can be cracks at times as well.”

Gatland says he spotted signs after the Lions’ 24-21 win in Wellington that doubt was stalking Steve Hansen’s men. “I don’t think the All Blacks are very vulnerable, but last week there were a few comments made that I hadn’t expected,” he said. “There were signs there we could build on, have some confidence and self-belief. Often when you play All Blacks teams in New Zealand, that’s the biggest challenge – to get 15 players going on the field believing they’re good enough to win. Someone [Hansen] mentioned the [Wellington] result and said that, if they lost, the sun would still come up tomorrow, and it wouldn’t be the end of the world and they would learn from that experience. Those are comments you don’t hear very often coming out of the New Zealand camp.”

Nor do you see parity often on an Eden Park scoreboard; or at the end of a tour by people pulled together six weeks previously. They came, they saw, they drew. But “draw”is an inadequate way to describe what the Lions did here.

With Gatland’s management and his local knowledge, they stopped one point short of a miracle.