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

• L&G close to finding chairman

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

First Quench to shed more jobs and stores

The administrators of First Quench, owners of Threshers and Wine Rack chains, said it would cut almost 1,900 jobs and close hundreds more stores

Chemring raises $280m to help fund deals

The military decoy and pyrotechnic device group has placed $280m of loan notes with institutional investors, giving it renewed firepower for further acquisitions

Anite pins hopes on renewed LTE spending

The telecommunications testing group is pinning its hopes for a second-half upturn on renewed spending on next-generation networks

UK Mail lifts profits

The postal and parcel delivery company has seen some uplift in business as consumers sought alternatives to Royal Mail’s service, but revenues fell as the recession dragged on demand

Hershey and Ferrero flag interest in Cadbury

US and Italian confectionery groups are considering whether to enter the bid battle for Cadbury, though analysts are quick to play down the chances of a joint bid

Bolland must wear two caps at M&S

Just two months ago Marc Bolland, chief executive of Wm Morrison, said ‘I love Morrisons. I am happy where I am’