Business news in brief

The Church of England plans to review its guidelines on ethical investments and focus more on the activities of individual companies rather than on broad investment categories after a debate by the General Synod in York on Saturday. At present the Church bans investment in companies operating in five major sectors: armaments, gambling, brewing and distilling, tobacco and newspapers.

Office workers voted Newcastle the best place in Britain to work in, according to a survey of 15 working cities by property consultants Healey & Baker. Milton Keynes and Glasgow came next, while Cardiff, Southampton, Leeds and Manchester were voted equal fourth. Workers said ease of getting to work was the most important criterion.

Chez Gerard, the quoted restaurant chain, opens its first Chez Gerard steak and frites restaurant in the City of London today in a listed building in Bishopsgate opposite the NatWest Tower. The group has five Chez Gerard restaurants in central London.

WH Smith is launching a loyalty card this week, offering a 2 per cent discount, which it claims is twice the rebate offered by the supermarket chains. The company said the cards would provide it with useful information about its customers' shopping habits.

Small and medium-sized businesses expect to expand by almost 13 per cent in the next 12 months, according to a survey by accountants BDO Stoy Hayward. Companies with a turnover of pounds 15m-pounds 50m and those in London and the South-east have the greatest confidence.

Lloyd's names are being given the opportunity to convert their future underwriting at Lloyd's from unlimited to limited liability. Angerstein Underwriting Trust and its members' agent, Stace Barr, have produced a conversion scheme which will allow names to switch and still meet the stricter capital requirements needed for limited liability underwriting. Aberdeen Nomina and JO Hambro & Partners have also launched a scheme to allow conversion to limited liability underwriting.