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Financial News

Nestle Said to Consider Options for Cadbury, May Challenge Kraft, Hershey Nestle SA is weighing options including a possible bid for Cadbury Plc that would challenge Kraft Foods Inc.’s offer and a potential move by Hershey Co., according to two people with knowledge of the matter.

Eni to Pay Over $1.5 Billion for Heritage Oil's Uganda Fields, Times Says Eni SpA, Italy’s biggest energy company, will pay $1.5 billion for Heritage Oil Plc’s fields in Uganda, the London-based Sunday Times reported, without saying where it got the information.

`Overvalued' U.K. Housing Market May Not Return to Peak Prices Until 2014 U.K. house prices will probably fall next year, and it may take until 2014 to return to the levels at the 2007 peak of the country’s biggest housing boom, according to a Bloomberg survey.

Blackstone May Buy Majority Stake in Gala Coral Group, Telegraph Reports Blackstone Group LP may buy a majority stake in Gala Coral Group Ltd., the closely held owner of Gala bingo halls, the Daily Telegraph reported, without saying where it got the information.

Robbie Williams May Sell 50% of Future Earnings to Investors, Times Says U.K. pop singer Robbie Williams may sell a 50 percent stake in future earnings to financial institutions for 50 million pounds ($82.4 million), according to the London-based Times.

Shell in Talks to Purchase 10% Stake in Essar Oil, Economic Times Reports Royal Dutch Shell Plc is in talks to acquire a 10 percent stake in India’s Essar Oil Ltd., the Economic Times said, citing unidentified people.

U.K. Flood Claims May Reach as Much as $165 Million for Insurers, ABI Says The cost to insurance companies of this week’s flooding in parts of the U.K. may be as much as 100 million pounds ($165 million), according to the Association of British Insurers.

Brown Says U.K. Government to Respond `Swiftly' to Walker Banking Review The U.K. government will respond “swiftly” to a banking review conducted by former Morgan Stanley International Chairman David Walker, Prime Minister Gordon Brown said.

BOE Says `Exuberance in the Supply of Credit' Fueled Financial Crisis The financial crisis “would have been less costly” had policymakers been able to make the system more resilient and “moderate exuberance in the supply of credit,” the Bank of England said.

U.K. Shares Decline for Fourth Day on Concern Economy to Falter; Tui Drops U.K. stocks declined for a fourth day after Morgan Stanley downgraded shares of Thomas Cook Group Plc and Tui Travel Plc and concern grew that the economic recovery may falter.

General News

Cameron Pledges to Work `Night and Day' for U.K. Majority as Lead Shrinks Conservative Leader David Cameron pledged to work “night and day” to win a majority in Parliament at the next U.K. election as an opinion poll suggested his party may fail to clinch enough lawmaker seats.

Car Bomb Left Near Northern Ireland Policing Board Offices, Two Flee Scene A car containing 400 pounds (181- kilogram) of explosives was left outside the Northern Ireland Policing Board offices in Belfast.

Pope, Archbishop of Canterbury Agree in Rome to Strengthen Relationship Pope Benedict XVI and Rowan Williams, the archbishop of Canterbury, reiterated their wish to strengthen the relationship between the Roman Catholics and the Church of England at a meeting in Rome today.


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