Motion Media, the videophone developer beloved of day traders and other small investors, has slapped down market rumours that it was close to signing a big order for its innovative products. The company has lost 15 per cent of its value so far this week.Collins Stewart also hit back against its former employee, saying it was planning to ask the FSA to investigate his sale of shares in the company just after he was sacked.. James Middleweek, the analyst sacked by Collins Stewart for allegedly trying to blackmail his former employer, has accused its chief executive, Terry Smith, of being obsessed with driving revenues irrespective of the quality of business being offloaded on to clients. In a wide-ranging attack on the culture of the company under Mr Smith, Mr Middleweek has alleged that there was "a gradual deterioration in the standards of the firm" following its flotation in October 2000 and the appointment of Mr Smith as chief executive just beforehand.Collins Stewart strongly denies the allegations, and has hired Clifford Chance to investigate the charges raised by Mr Middleweek. Currently the UK accounts for 49 per cent of turnover, compared with 32 per cent from Continental Europe.. In the first half of the current year, margins fell again to 18.4 per cent.Mr Wilde spelt out his strategy yesterday, which will see the company go further into Europe, especially its southern and eastern flanks, and add to its sales force, which is already 3,200 strong. Margins have declined each year since 1999."In 1999 margins were 21.8 per cent, last year margins fell to 18.9 per cent.

Mr Wilde said the UK hygiene business was a "concern" with sales down 2.5 per cent but it is going through a restructuring.Group margins came in at over 18 per cent, ahead of peers, though analysts said the figure was on the decline and pricing pressure was evident.Geoff Allum, analyst at Investec Securities, said: "Such high margins also leads to a concern that pricing pressure will bring lower margins and a need to find turnover growth in what are fairly mature markets Margins have been coming down. American companies put on extra security while the war was on, leading to an 11 per cent jump in turnover for the division in that country.The hygiene business, which provides services for business washrooms, as well as pest control, continued to be weaker than other divisions, with turnover here increasing at half the 5 per cent group rate. "It's a bit unnecessary," Mr Wilde said, referring to attempts to label him.Pre-tax profits grew 7.4 per cent to £200.5m, for the six months to 30 June, ahead of expectations, helped by a jump in the security business, where profits were up by 11 per cent.Mr Wilde said that during the first half, the US security business was busy because of concerns surrounding the Iraq war. Sir Clive was known as "Mr 20 per cent" for delivering earning per share growth of that magnitude for years.He pointed out the company had been providing 10 per cent dividend growth since 1998. Rentokil Initial yesterday pledged that dividends would rise by 10 per cent a year for the "foreseeable" future as it pushed further into Continental Europe. However, reporting interim results, the support services group's chief executive, James Wilde, who succeeded Sir Clive Thompson earlier this year, rejected the label of "Mr 10 per cent". GX Networks, which provides telecoms services to small and medium enterprises, yesterday announced it had snapped up rival telecoms operation Firstnet Services in a move that will raise another couple of million pounds for its founder, Dominic Marrocco. NAB owns the Yorkshire, Clydesdale and Northern Banks in the UK.AMP's UK businesses - including Pearl Assurance, London Life and Henderson Global Investors - are planned to demerge from the Australian arm by the end of the year.AMP shares rose 23 per cent yesterday to close at A$6.35..

But he added that he awaited the "detailed information to be provided in AMP's demerger documents". "The National has no interest in acquiring AMP while AMP owns its UK businesses," Mr Cicutto said. NAB now holds a 5.4 per cent stake in AMP.Frank Cicutto, NAB's chief executive, described the stake as a "strategic investment" for the bank, as shares in the insurer have hit record lows in the past few weeks. It had to pay A$6 a share for the stake, a 16.5 per cent premium to AMP's closing price on Wednesday of A$5.15. National Australia Bank yesterday fell short of taking a 15 per cent stake in AMP but is still thought to be laying the groundwork for a multibillion-dollar takeover bid once the Australian life insurer is rid of its ailing UK businesses. Australia's largest bank bought a 2.3 per cent stake in AMP for A$206m (£84m), having placed an order through Citigroup and JB Were to buy 11.4 per cent. The IRB has not explained how it will prevent a crowd of 80,000 from singing unaccompanied.. Australia won the two previous World Cups.Whether the ban can be enforced is questionable.

It always has been and always will be."Some observers suggested the move had been orchestrated by rival teams jealous of the Wallabies' success. John Williamson, a country singer who often leads sporting crowds in a rousing singalong, said: "That song is our number one song. It's the fact of getting parity with the All Blacks.''"Waltzing Matilda" was sung by soldiers in the First World War trenches. As the former Australian team coach Rod Macqueen said: "It's not just singing the song. Toutai Kefu, the vice-captain, said: "It gets the crowd in a jovial mood, it creates a positive atmosphere.'' Another player, Joe Roff, said: "I think it's worth points to the team during a hard match.''That the haka is to be permitted has added insult to injury, for the New Zealand All Blacks are the Wallabies' chief rivals. 'Waltzing Matilda' is deeply evocative of Australian culture. How can you justify trying to ban the singing of it, and allow other presentations which are evocative of the culture of other countries?''The Australian players, who are known as the Wallabies, were also horrified by the ban.