City&FinanceBriefing Inbrief Cadbury shares climb on talk of bid sweetenerCADBURY shares were moving upwards today as market-makers bet that suitor Kraft will soon make an improved takeover offer for the 185-year-old business. The stock added 4p to 780p, heading further away from Krafts 745p-a-share, 10.2 billion informal bid. This means the City expects an improved deal soon -- but also that it thinks Cadbury man- agement is open to talks at the right level. A letter from Cadbury chairman Roger Carr to Kraft boss Irene Rosenfeld released yester- day and posted at the stock exchange today gave a strongly worded rejection of the deal. Carr said being absorded into Krafts low growth, conglomerate business model was an unappealing prospect. But it clearly left the door open for further talks. Manoj Ladwa, senior trader at ETX Capital said: With the current Cadburys share price well in excess of the bid level, the markets are clearly expecting more from Kraft. With the considerable strategic benefits that Cadburys offers it probably makes sense for Kraft to continue the hunt. Other bidders, such as US chocolate giant Hershey and private equity house KKR, are expected to enter the fray. BY SIMON ENGLISH London looks lively as business pace picks up London today seemed to have put the worst of the Lehman Brothers crisis behind it just a year after the collapse of the investment bank. A survey showed business activity in the capital hit an 18-month high in August, fuelling hopes the recession is drawing to a close. The dramatic failure of Lehman sent the global economy into a tailspin and sparked the most vicious slump since the Great depression. Shares around the world plunged in the aftermath of the shock but have rallied sharply in recent months, boosting business in the City of London and Canary Wharf. The FTSE 100 index hit a low of 3512 in March, but last week smashed back through 5000. It was down 28.56 to 4982.91 today. Global stock markets have also enjoyed a healthy recovery. However, shocking figures from the London High Street today served as a timely reminder that the road to recovery will be long and painful. The British Retail Consortium (BRC) said sales in London last month were 5.9% lower than a year ago as shoppers tightened their belts. But economic researchers at Markit were more upbeat after a survey showed business activity in London expanded at its fastest pace in 18 months in August. Unemployment also rose sharply last month in the capital. Security firm nabs top job SECURITY and defence group Westminster has won a 540,000-a-year contract to protect a wealthy Middle Easterner. The new contract provides 24-hour security at home and on extensive trips abroad for the man and his family from male and female close protection operatives supplied by Westminsters recent acquisition Longmoor. Westminster paid 2.4 million for London-based Longmoor, chaired by former Tory minister Sir John Wheeler. Australia Dollars 1.8340 Canada Dollars 1.7132 Denmark Kroner 8.1002 Eurozone Euro 1.0915 Hong Kong Dollars 12.2800 Japan Yen 144.9800 New Zealand Dollars 2.2099 South Africa Rand 11.7800 Sweden Kronor 11.1600 Switzerland Francs 1.6503 UAE Dirham 5.7535 United States Dollars 1.5942 TouriST raTeS DOWN 28.56 at 4982.91 fTSe 100 dow joneS nikkei -$ DOWN 22.07 at 9605.41 DOWN 214.54 at 10,229.79 DOWN 0.87c at $1.6572 >>for all the latest City share prices, call 0905 817 1694* or visit * Calls cost 75p/min from a BT landline & last approx 1 min per quote. not all stocks are available rios diamonds back in demand l Rio Tinto is to resume the expansion of the worlds biggest diamond mine next year as global demand for jewellery begins to recover from the recession. The mining giant shut down processing facilities at the Argyle mine in Western Australia from January to June. But work has now restarted, and a 900 million expansion programme will go ahead. Monkey business: cult Cadbury television ad featured a gorilla eu wind farms need billions l Billions must be invested in offshore wind farms in the next few years if the EU is to hit its target for 20% of energy from renewable sources by 2020, the European Wind Energy Association said today. some 57 billion (49.9 billion) is needed to build the farms with up to 30 billion for connections to bring the electricity ashore and pass it between states. fuhrers backing Goldshield bid l GoldshiEld, the healthcare and pharmaceuticals group at the centre of a price-fixing probe two years ago, may soon be on the end of a 140 million-plus bid. Former chief executive Ajit Patel, who was charged along with the company by the serious Fraud office but won on appeal, today revealed he is backed by the Fuhrer family, owner of israels neopharm group. jPMorgan wins takeover tussle l A UniT of JPMorgan Chase today agreed to buy carbon credit firm Ecosecurities for 122.9 million after a takeover battle involving a rival bidder. JPMorgan Ventures Energy Corporation trumped a 90p-a-share hostile bid by dutch firm Guanabara, led by Pedro Mora Costa, Ecosecurities co-founder, with a 100p-a-share offer. 42 Monday, 14 September 2009 London Lite index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html32.html33.html34.html35.html36.html37.html38.html39.html40.html41.html42.html43.html44.html45.html46.html47.html