UPDATE 1-ICI opens books to Akzo after raised $16.3 bln bid

(Reuters) - LONDON, Aug 6 - Britain's Imperial Chemical
Industries has opened its books to Akzo Nobel
after receiving an improved 8 billion-pound
takeover proposal from its Dutch suitor, it said on Monday.




ICI, the maker of Dulux paints, said the new proposal was
670 pence a share in cash, up from the 650 pence a share it
rejected last week.


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FTSE up as M&A boosts; BoE eyed but jitters stick

(Reuters) - The FTSE 100 index of Britain's leading shares edged up 0.2 percent on Monday after a flurry of M&A activity boosted the upside but interest rate concerns and credit uncertainty continued to worry investors.

Fears that a rise in defaults on U.S. subprime mortgage loans could spiral into a broader financial crunch have surrounded global markets since mid-June.


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UPDATE 1-Cadbury US drinks sale value in question -source

(Reuters) - LONDON, July 26 - Britain's Cadbury Schweppes
is unsure of the value of bids it will receive for its
U.S. drinks arm as a result of turbulent debt markets, a source
familiar with the matter said on Thursday.




The auction will test to what extent the recent turbulence
in debt markets has reduced the ability of buyout firms to offer
compelling terms, the source said.


Read more at Reuters.com Bonds News

FTSE gains as Barclays ups ABN bid, insurers buoy

(Reuters) - The FTSE 100 of Britain's leading shares edged higher on Monday as merger and acquisition activity boosted stocks at the start of a busy week for corporate earnings.

At 0806 GMT, the UK's main share index was up 9.9 points, or 0.2 percent at 6,595.1.


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Terna, InterGen, Sparebanken, Groupama to Sell Debt: European Bond Alert

(Bloomberg) -- Network Rail Ltd., the government-
backed owner of Britain's railways, is among borrowers seeking to
raise the equivalent of at least 3.5 billion euros ($4.8 billion)
from sales of bonds in euros and pounds, according to data
compiled by Bloomberg.

Companies sold the equivalent of $1.04 trillion of bonds
denominated in euros and pounds so far this year, up from $844
billion in the same period in 2006.


Read more at Bloomberg Bonds News

European shares open mixed with M&A in focus

(Reuters) - European shares got off to a mixed start on Monday as merger activity lent some support while investors still worried that problems in the U.S. housing market could spread to the broader economy.

M&A activity came to the fore again after Britain's Barclays


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US subprime concerns hit FTSE; Imperial Tobacco up

(Reuters) - Britain's top share index fell for the third straight day, down 0.8 percent by midday on Wednesday, on concerns over the troubled U.S. subprime mortgage market and its impact on the broader economy.

At 1030 GMT, the FTSE 100 was down 53.4 points at 6,605.7, along with other European markets, but mergers and acquisitions offered some respite, boosting shares in Imperial Tobacco and Sainsbury.


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UPDATE 2-UK buyout firms urged to voluntarily end secrecy

(Reuters) - LONDON, July 17 - Private equity firms should
disclose more details about themselves and the companies they
acquire, but not be subjected to greater regulation, an
independent review requested by Britain's buyout industry found.




David Walker, a former chairman of Morgan Stanley
International, was appointed in March to look at ways for buyout
firms to communicate more information to more people to help
silence a growing chorus of public and political criticism.


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U.K. Electricity Rises, Boosting Profit Margins for Gas-Fired Power Plants

(Bloomberg) -- U.K. electricity for delivery a day
ahead gained, boosting profit for operators of plants that burn
natural gas, the fuel for about 40 percent of Britain's power
generation.

Baseload electricity for next-day delivery rose as much as
4.2 percent to 28.65 pounds ($58.50) a megawatt-hour, according
to prices on Bloomberg from the energy broker Spectron Group
Plc. It traded at 28 pounds a megawatt hour at 8:52 a.m. in
London. Baseload power is delivered around the clock.


Read more at Bloomberg Energy News

FTSE weighed by miners, worries over US economy

(Reuters) - Britain's top share index fell on Tuesday as miners suffered downgrades and investors braced for U.S. inflation data after fresh fears over the subprime mortgage market fuelled concerns about the state of the world's largest economy.

Investors were also unsettled by a UK inflation report that showed price pressures remained strong, stoking fears of higher interest rates.


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FTSE down as Lonmin weighs on miners; banks support

(Reuters) - Britain's leading shares reversed earlier gains on Monday as Lonmin dragged mining stocks into the red after cutting its full-year sales forecast but M&A activity boosted banks.

Lonmin, the world's third-biggest platinum producer, dipped 7 percent after it cut its full-year sales forecast, blaming difficulties in processing lower grade ores and bottlenecks at refineries. Citigroup also cut its price target to "hold" from "buy".


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RBS-led group offers more cash in $98 bln ABN bid

(Reuters) - The offer is above a rival all-stock bid from Britain's Barclays that is worth about 64 billion euros, which has been recommended by ABN's board.




The revised bid pushed ABN shares higher, with the price up 3.5 percent at 37.12 euros by 0726 GMT.


Read more at Reuters.com Business News

Conrad Black found guilty of criminal fraud

(Reuters) - The three men on trial with the 62-year-old member of Britain's House of Lords were also found guilty of multiple fraud counts.




Black, who was found guilty of four of 13 charges, faces decades in prison and millions in fines.


Read more at Reuters.com Business News

Aviva's new CEO must woo investors to boost shares

(Reuters) - Currently the group's finance director, Moss takes over as
chief executive of Britain's largest insurer next Thursday from
Richard Harvey, one of the longest-serving FTSE 100 bosses.




Moss has been part of the management team since he joined in
2004 and has effectively led the group's strategy since Harvey's
early retirement was announced in January.


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Laidlaw profit beats Street view, takeover delayed

(Reuters) - The operator of the iconic Greyhound Lines buses and
ubiquitous yellow U.S. school buses also said that its takeover
by FirstGroup Plc , Britain's biggest bus company, has
been delayed by the U.S. Department of Justice.




Laidlaw reported its net income for its fiscal 2007 third
quarter, ending May 31, rose 79 percent to $61 million, or 76
cents a share, from $34.1 million, or 35 cents a share, a year
earlier. Last year's results included a loss of 9 cents a share
from discontinued operations.


Read more at Reuters.com Market News

U.K. Stocks Gain, Paced by Anglo American, Xstrata; Greene King Rallies

(Bloomberg) -- U.K. stocks gained, paced by Anglo
American Plc and Xstrata Plc as base metals rallied in London.

United Utilities Plc climbed on speculation Britain's
largest publicly traded water company may be bought. British
Airways Plc advanced after the airline won approval to fly from
U.S. cities to Europe. Rolls & Royce Group Plc rose after the
engine maker said its customer base grew ``significantly.''


Read more at Bloomberg Stocks News

GLOBAL ECONOMY-Europe factories flourish in June, Japan's slip

(Reuters) - PARIS, July 2 - Germany lifted the overall rate of
growth in the euro zone's manufacturing sector to a 4-month high
in June but growth slowed in other key European countries and in
Japan, monthly business surveys show.




Surveys of purchasing managers at thousands of companies
across the globe showed growth continued everywhere -- with
notable accelerations in Germany and Spain and eye-catching
slowdowns in growth rates in Britain and above all Japan.


Read more at Reuters.com Economic News

Conrad Black's legal fights far from over

(Reuters) - The jury began deliberating on Wednesday on 13 counts of fraud, racketeering, obstruction, and tax violations that could imprison the 62-year-old Black for the rest of his life and drain what remains of his fortune with fines and forfeitures.




On hold until the criminal case concludes are additional lawsuits involving the Canadian-born Black, a member of Britain's House of Lords.


Read more at Reuters.com Bonds News

FTSE ticks up; slower sales growth hits Tesco

(Reuters) - The UK's leading share index ticked higher on Tuesday as miners steamed ahead but Britain's largest retailer Tesco slid after announcing a slowdown in UK sales growth.

By 0743 GMT the FTSE 100 was up 8.1 points, or 0.12 percent, at 6,711.6.


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U.K. Natural Gas Prices Gain on Forecast of Cooler Weather, Lower Imports

(Bloomberg) -- U.K. natural-gas prices rose after
weather forecasters predicted rain throughout the country next
week, which may increase heating demand, and a pipeline to mainland
Europe reversed direction to take gas out of Britain.

Gas for delivery a week ahead at the National Balancing Point,
the U.K. trading hub, rose 0.7 percent to 20.75 pence a therm as of
11:31 a.m. in London, according to broker ICAP Plc. That equals
$4.09 per million British thermal units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News