Retirement home specialist McCarthy & Stone is at the centre of a £1bn bidding war between Augusta Capital and private equity group Permira.

Augusta is backed by billionaire investors David and Simon Reuben.

McCarthy & Stone revealed that it had received more than one takeover approach last week.

Shares in the company rocketed 15% after the announcement.

At the time, City observers said the interested parties were unlikely to be any of the volume housebuilders because of the huge price that would have to be paid and the fact that few cost saving synergies could be made.

The BRE and Housing Corporation have launched an environmental standard for existing housing stock. EcoHomes XB has been designed specifically to help housing associations and local authorities plan and measure the benefits of improvement to their housing stock.

Topics covered include: energy, transport, pollution, water, health, waste and management policies.