(Corrects third item to make clear Allen&Overy reported a

fall in revenues, not a loss)

The Times

DYSON'S PAY CUT AS PROFITS FALL

The salary of James Dyson was slashed last year as pre-tax

profits slid 4 percent at his technology firm, to 85.3 million

pound in the 12 months to Dec. 31. The multimillionaire investor

took the pay cut as the recession took its toll on the firm.

Turnover grew 2.8 percent to 628 million pounds in the period

while research and development spending was 6 percent lower at

49 million pound.

CADBURY HAS SUPPORT TO TURN DOWN HOSTILE BID

Cadbury is expected to rebuff Kraft, the U.S. based

food group, if it makes a low-ball hostile bid and the bid must

arrive by 5 p.m. on Monday. The company has the support of key

shareholders to walk away. Legal&General, Cadbury's biggest UK

shareholder with a 5.4 percent stake, said in September that it

felt Kraft's opening offer was 'materially undervalued'. Kraft

is expected to bid for Cadbury either at its initial

745p-a-share offer price or at a small premium to the closing

price of 758.5p on Friday.

ALLEN&OVERY REPORTS FALL IN REVENUES AS BIG LAW FIRMS

STILL FEEL ECONOMIC PINCH

Law firm Allen&Overy (A&O) reported a 7 percent fall in

half-year revenues yesterday as its fee income for the half-year

period to Oct. 31 fell to 511 million pounds. The fall was

attributed to a slump in transactional work, the latest sign

that law firms are continuing to suffer from the economic

downturn. A&O is the first big firm to announce half-year

results, an action which is not compulsory.

TEMPUS

Cadbury ('Takeover could spur a rebound of M&A

activity in Europe')

Daily Telegraph

SALES OF QUIET FIREWORKS TAKE OFF

Tesco has reported that sales of 'quiet' fireworks

have doubled compared to last year. The supermarket retailer

sold 330,000 sets of the noiseless fireworks last week as

consumers move away from buying louder firecracker and cherry

bomb varieties in order to protect their children and pets.

Separately, the online pharmacy chemistdirect.co.uk reported a

large rise in sales of anti-anxiety drugs for pets. Sales of the

treatments for pets scared by bangs increased 45 percent this

year compared with 2008.

TATE&LYLE ENDS FINAL-SALARY PENSION

Tate&Lyle announced on Friday that its

final-salary pension scheme is to close to existing members. The

sugar manufacturer and refiner said that around 400 staff, or

approximately half of its UK workforce, will be affected by the

plans and has started a consultation on the matter. The company

also reported first-half profits consistent with analyst

forecasts. Excluding a one-off charge to close a sucralose

factory, the company's pre-tax profits fell 13 percent to 112

million pounds based on sales which increased 7.4 percent to 1.8

billion pounds.

POSTAL STRIKE DELIVER A BOOST TO RENTOKIL

On Friday Rentokil Initial's parcel business, City

Link, reported third quarter figures that exceeded expectations.

Rentokil Chief Executive Alan Brown said the company had

experienced a benefit in revenue of between 1 and 2 million

pounds due the postal strikes by Royal Mail. Brown described the

5 percent rise in revenue as 'modest' due to the costs

associated with meeting sudden peaks in demand. Rentokil revised

full-year forecasts for City Link from a 12 million pound loss

to a 7 million pound loss. The division had expected to move

into profit during the fourth quarter.

The Independent

ETHICAL TRAVEL COMPANY DROPS CARBON OFFSETTING

The founder of the online ethical travel operator

responsibletravel.com has strongly criticised the carbon offset

industry and has stopped offering offsets to its customers.

Travellers pay for carbon offsets in the belief that CO2

released during their journey will be counterbalanced by

investment in carbon-reducing schemes in developing countries.

Justin Francis, though, likened the practice to a 'medieval

pardon that allows people to continue polluting'.

STV TO LOSE TWO MILLION POUND IF ITV AXES 'TAGGART'

STV has pledged to continue producing Taggart regardless of

whether ITV axes the long-running detective series. The Scottish

media group has warned that its earnings could fall by 2 million

pound if ITV does not commission the series for 2010.

However, talks are continuing amid an increasingly bitter

dispute between STV and ITV over the Scottish ITV franchisee's

decision to opt out of a growing number of peak-time networked

shows in favour of local programming.

The Guardian

GOVERNMENT DEMANDS PROOF OF RBS EFFORTS TO HIT 25 BILLION

POUND LENDING TARGET

The Treasury is demanding that RBS provide evidence

of its efforts to lend 25 billion pounds to businesses and

households after the bank admitted that it would miss government

targets. RBS announced a third-quarter loss of 2.1 billion

pounds and Chief Executive Stephen Hester warned that its

investment banking arm could be hit by staff departures. Staff

earning more than 39,000 pounds will be prohibited from

receiving cash bonuses as a condition of receiving state aid.

BRITISH AIRWAYS POSTS RECORD 292 MILLION POUND LOSS

British Airways announced plans for a further 1,200

job losses on Friday, with Chief Executive Willie Walsh arguing

that the move was necessary due to losses of 292 million pounds

in the first half, the airline's worst results since

privatisation. The union Unite says it will press ahead with a

strike ballot which could see staff stage a walkout from Dec.

21. Walsh said talk of strike action was 'premature' and that

passengers should make bookings for the Christmas period.

Prepared for Reuters by Durrants.

Keywords: BRITAIN PRESS/BUSINESS

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