THE DAILY BRIEFING

FOUNDER ROLE

The cofounder of Paragon Entertainment will step down from his job as chief executive into a new development director post.

Mark Pyrah, who launched the visitor attraction business 11 years ago, is being replaced by chief operating officer John Dobson.

Mark Taylor, executive chairman, said it was part of a move to ‘further strengthen management’ for the future.

‘John Dobson is ideally positioned to lead management best practice and release Mark Pyrah to focus on his passion and propensity for sales and business development,’ Taylor added.

The firm has launched new projects including the Land of the Lions at London Zoo, the Rolling Stones Exhibitionism at the Saatchi Gallery and the Wallace and Gromit Thrillomatic at Blackpool Pleasure Beach.

BAKING BOOM

The Real Good Food group, which makes cake decorations such as metallic food paints and sprinkles, is seeking to grow its export business on the back of booming demand for baking.

In the UK the Great British Bake Off has caused a renaissance in baking at home and the firm has created a subsidiary Renshaw US to focus on the American market.

It has secured a five-year lease on a warehouse in New Jersey to sell its cake decorating in the USA and Canada and plans to expand across the Americas.

SKYPE OFFICE

Microsoft is closing one of the UK offices of its video-call app Skype, putting hundreds of jobs at risk.

In July, the tech giant said it would be scrapping 2,850 roles across its business late this year, although it has not said when the London roles will go.

Skype was launched in Europe in 2003, and changed hands a number of times before being bought by Microsoft in 2011 for £6.5bn.

DEAL EXTENDED

Facilities management giant Interserve has won a two-year extension to its contract with the Environment Agency, worth £11m.

Its contract, which has already been running for three years, includes maintenance, cleaning and security across 100 sites.

Interserve made £1.6bn in revenues last year.

INSURER ROCKED

Profits at insurance company LV= collapsed in the first half of the year after it was hit by subdued home insurance sales and ultra-low interest rates. The Bournemouth-based firm said that pre-tax profits for the six months to June 30 plunged from £49m to £1m.

LV= also warned that car insurance premiums could rise.