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Banks and resource stocks lead FTSE 100
Miners and financial stocks led a strong rebound as strong metals prices and an upbeat reception for the first part of Lloyds’ recapitalisation plan set the pace in opening trade
Cadbury is sweet on takeover by Hershey
The UK chocolate maker is expecting a friendly bid from Hershey if the US confectioner can arrange the financing for a takeover offer
Spanish step is start of ex-pilot’s global wish-list
The future aims of Willie Walsh, the high-flying chief executive of British Airways, are to build on the Iberia deal in spite of important matters in his in-tray
Rockspring buys distressed RBS assets
The property fund manager, agrees to buy a portfolio of UK industrial properties from Royal Bank of Scotland, in one of the first deals to take distressed assets from a UK lender
Chi-X leaves upstart label behind
In continental Europe, Chi-X regularly trades enough shares in blue-chips such as ST Microelectronics and Siemens that, while it is technically not an ‘exchange’ like Euronext or Deutsche Börse, it still ranks as third-largest trading platform
Blacks Leisure set for deal to escape administration
The outdoor goods retailer looks set to reach and agreement that will allow it to back out of leases on 101 stores
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
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




