PRESS DIGEST - Financial Times - March 5 =3

Cable & Wireless (CW.L: Quote, Profile, Research, Stock Buzz), which is attempting to revive its UK business by serving the telecoms needs of companies rather than consumers, said it would be 2011 before its UK business hit a core profit target of 400 million pounds. Shares in the telecommunications company fell 20.4 pence to 157 pence on the news, with Mark James, analyst at Collins Stewart, downgrading his recommendation on the stock from "buy" to "hold".

DIC CONFIDENT LIVERPOOL BID WILL SUCCEED

Dubai International Capital set a deadline of midnight on Tuesday for Tom Hicks and George Gillett to accept its debt-inclusive offer of 400 million pounds for Liverpool FC. This would leave the pair with a profit of 25 million pounds each, but Mr Hicks has rejected the offer and does not want a 50-50 shareholding with anyone other than Mr Gillett. It is unclear whether Mr Hicks needs to retain his stake in Liverpool to underpin a planned flotation of his Hicks Sports Management group.

PREMIER CALLS FOR MORE WHEAT FIELDS