PRESS DIGEST – British business – April 23

The Independent

IoD WARNS THE GOVERNMENT AGAINST BLOCKING TAKEOVERS

Business lobby group the Institute of Directors called on
the government to refrain from blocking foreign takeovers and
argued for a strengthening of the Takeover Code. Miles
Templeman, the IoD director general, said: “We would be very
concerned if the Government had powers to block or approve
takeovers except in cases of national security.” An IoD
statement, released in response to the controversial 11.5
billion pound takeover of Cadbury (CBRY.L: ) by Kraft, supported
proposals to raise shareholder approval for hostile takeovers to
two-thirds. The group said that the two-thirds rule should also
apply to the buyer’s shareholders.

INVESTMENT COLUMN

Anglo American (AAL.L: ) (Buy)

IMI (IMI.L: ) (Buy)

Bluebay Asset Management (BBAY.L: ) (Buy)

The Guardian

BRITISH AIRWAYS STAFF TO VOTE ON PEACE DEAL

The Unite union is preparing to hold a consultative ballot
of 12,000 British Airways (BAY.L: ) cabin crew on proposals
resulting from talks between the airline and Unite general
secretary Tony Woodley. The discussions revolved around perks BA
withdrew from staff who took part in seven days of strike action
last month. The British Airlines Stewards and Stewardesses
Association, a branch of Unite, said that members would have
five days to vote, choosing either “to accept the deal or give
notice for further strike dates”.

CLIMATE PROTESTORS TARGET RBS OVER TAR SAND LOANS

Camp for Climate Action has announced that state-controlled
Royal Bank of Scotland (RBS.L: ) will be targeted by a series of
direct action environmental protests this summer. The campaign
group is broadening its protests against controversial tar sands
operations to include institutions providing funding for the oil
companies that have already been the target of the group’s
protests. Tar sands operations can produce up to three times the
volume of carbon emissions produced in conventional oil
production, and a recent report suggested that RBS invests more
heavily in companies involved in tar sands than any other UK
bank.

Investing Analysis
($1=.6501 Pound)

PRESS DIGEST – British business – April 23