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. ($1=.6501 Pound)