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Heritage to sell Ugandan fields to Eni

Heritage, the UK-listed oil company, has agreed to sell its Ugandan oil fields to Eni, the Italian energy group, in a deal worth about $1.3bn

Hershey weighs $17bn bid for Cadbury

The charitable trust that controls Hershey has encouraged the US confectioner’s management to pursue a $17bn bid for Cadbury, topping Kraft Foods’ hostile $16.2bn offer

ASB urges bond pensions benchmark

Company pension liabilities should be discounted by an interest rate equal to that on risk-free government bonds

Rio Tinto bolstered by US coal sale

Gobal mining company that faced huge debt burden a year ago continues recapitalisation drive and nets $741m by spinning off US coal assets

Nationwide lashes out at rescued banks

The head of Nationwide, Britain’s biggest building society, accuses government-backed companies of seriously distorting the savings market as its profits fall more than 60%

L&G set to appoint John Stewart as chairman

The UK’s third largest life and pensions company is on the verge of appointing John Stewart, the former head of National Australia Bank, as its new chairman, pending FSA approval

Mortgages before current accounts at Tesco

The supermarket chain, which has pledged to become the ‘people’s bank’, has indicated that it could look to introduce mortgages by the end of next year, but may not begin offering current accounts until 2011

Gartmore to cut debt with £250m IPO

The asset management group says the offering will cut net debt to £150m. Managers are expected to sell up to 20% of their shares

Fullers highlights sector split

Fuller Smith & Turner provided further evidence that the pub sector is split between successful managed operators and struggling leased and tenanted ones after it delivered robust first-half results

Discounters rush to grab Woolies inheritance

Discount retailers have been the major beneficiaries of Woolworths’ collapse, with 39% of stores now let taken by Poundland, B&M Bargains and other value chains

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