British candy maker Cadbury PLC was thrown further into doubt Tuesday when a major Kraft Foods Inc

Kraft Cadbury

LONDON The battle for British candy maker Cadbury PLC was thrown further into doubt Tuesday when a major Kraft Foods Inc. shareholder voted not to endorse the U.S. company’s hostile takeover bid, even as Kraft sweetened its offer with more cash.Billionaire Warren Buffett’s Berkshire Hathaway Inc. said it had voted against Kraft’s proposal to issue 370 million shares to finance its 10.3 billion pound ($16.5 billion) bid, saying it was worried Kraft would raise the bid even higher.Kraft earlier Tuesday increased the cash part of its offer after agreeing to sell its North American pizza business to Nestle for $3.7 billion. Nestle also said it wouldn’t be making its own offer for Cadbury, as some analyst had speculated.That leaves Kraft the sole bidder for now, though the British maker of Dairy Milk chocolate and Dentyne gum has said it has received expressions of interest from The Hershey Co. of the United States and Italy’s Ferrero International SA.

Cadbury dismissed Kraft’s plan to use the money raised from selling brands such as Tombstone and Jack’s to increase the proportion of cash in its offer as “tinkering.”Shares in the British maker of Dairy Milk chocolate and Dentyne gum were down 3.7 percent at 775 pence, after briefly diving to 764.4 pence following Berkshire Hathaway’s announcement.Berkshire Hathaway, which holds 9.4 percent of Kraft’s stock, said that the share issue would give Kraft “a blank check allowing it to change its offer to Cadbury in any way it wishes.””And we worry very much that, indeed, there will be an additional change from the revision announced this morning,” it added. “To state the matter simply, a shareholder voting “yes” today is authorizing a huge transaction without knowing its cost or the means of payment.”

Kraft, based in Northfield, Illinois, could not immediately be reached for comment on Berkshire Hathaway’s move.Kraft, whose brands include Philadelphia cream cheese and Oreo cookies, earlier said its change to offer reflected calls by some Cadbury shareholders to have more of the offer in cash and “to be more sparing in its use of undervalued Kraft Foods shares as currency for the offer.””Kraft Foods continues to believe that its share price is depressed as a consequence of a number of short term factors which it believes will dissipate once the uncertainty surrounding its offer for Cadbury is resolved,” the company said in a statement.

Kraft said Tuesday it will use an amount equivalent to the net proceeds from the pizza sale, which it estimates to be 60 pence per Cadbury share, to fund a partial cash alternative to its offer.It also extended the deadline for shareholders to accept its bid until Feb. 2 – the last day in the 60-day timetable set by the U.K. Takeover Panel.It has until Jan. 19 to revise its offer further.Berkshire said it will vote to issue shares only if it does not think the final offer hurts value for Kraft shareholders.

Cadbury’s share price is still well above the original 742 pence value of Kraft’s offer – 300 pence in cash and 0.2589 Kraft shares for each Cadbury share – reflecting the odds that changing the cash component is unlikely to be enough to win over shareholders who are seeking a higher overall price.Cadbury, which recently outlined its credentials as a stand-alone company by raising its long-term performance targets and producing better-than-expected profit margins, said the offer continued to undervalue the British company.

“Kraft has once again missed the point,” it said. “Despite this tinkering, the Kraft offer remains unchanged and derisory with less than half the consideration in cash.”Cadbury is due to provide a trading update, including the key Christmas season, next week.Nestle’s earlier decision to rule itself out of the bidding settled rumors that the Swiss maker of Nescafe coffee and KitKat chocolate was gathering a war chest for a rival bid after it agreed to sell off its 52 percent stake in eyecare company Alcon for $28 billion and announced it would spend less cash on share buybacks.

Some analysts still believe that another suitor may emerge.”We think that Hershey is keen to make a deal with Cadbury,” analysts at Numis stockbrokers wrote in a research note. “In reality Nestle is acting as a fund provider to the Cadbury deal and we would not be surprised to see the Swiss group play that role again by buying assets from Hershey, the Kit Kat brand in the U.S. being an obvious candidate.”

Nestle, meanwhile, is gaining a pizza business that includes the Tombstone and Jack’s brands in the U.S., the Delissio brand in Canada and the California Pizza Kitchen trademark license. It also includes two Wisconsin manufacturing facilities in Medford and Little Chute, Wisconsin.Nestle said the acquisition will add a “new strategic pillar” to its frozen food portfolio in the U.S. and Canada, making it a significant player in the $37 billion a year pizza market. Nestle is already represented in the U.S. with brands such as Stouffer’s, Lean Cuisine, Buitoni, Hot Pockets and Lean Pockets.Shares in the Swiss company rose 1.5 percent to 50.95 Swiss francs.About 3,400 employees are expected to transfer to Nestle.(AP)

National Health Service has approved nine schemes costing £187m.

Hi-tech hospital labs running 24-hours-a-day and £25m for new ambulances are two of a number of NHS projects which will go ahead this year.Health Secretary Nicola Sturgeon has approved nine schemes costing £187m. The new Southern General Hospital in Glasgow will benefit from the labs which will provide haematology, biochemistry and mortuary services. Over the next three years, millions will also be spent replacing Scottish Ambulance Service vehicles. Ms Sturgeon said the schemes would stimulate the economy in the recession.

‘Tough times’

The government’s capital investment group must approve all NHS Scotland projects above £10m in both the Greater Glasgow and Clyde and the Lothian health board areas, as well as projects which cost more than £5m in other areas. Other major projects approved include a £9.8m refurbishment of Cupar Hospital in Fife, and the £8.3m replacement of Migdale Hospital in the Highlands.

Ms Sturgeon said: “The projects approved this year by the Scottish government will benefit patients the length and breadth of Scotland. “From the new £90m labs at the new Southern General in Glasgow to the replacement of Migdale Hospital in Sutherland, these facilities will make a real difference to the standard of healthcare in these areas. “They also provide an important economic stimulus in these tough times, helping some of the most vulnerable sectors of our economy, such as construction, which have been hit especially hard by the collapse of private investment.”

Smoking-related illnesses cost the NHS more than £200m a year.

smokers

Smokers in Scotland are being urged by a government minister to quit the habit in 2010.Shona Robison said giving up smoking was the biggest single thing anyone could do to improve their health. The public health minister’s plea comes as Holyrood is expected to ban tobacco displays in shops and cigarette vending machines later this month. Ms Robison said she hoped the new legislation would help reduce the number of young people smoking. The Bill also proposes to bring in fixed-penalty notices for retailers who sell cigarettes to under-18s.

Hospital admissions

Banning orders will prevent retailers selling cigarettes if they continually flout the law. Labour and the Liberal Democrats broadly support the plan but the Tories are opposed, in part because of what they claim is “flimsy evidence” in the link between advertising and youth smoking.

The Scottish Government said more than 60,000 quit attempts were made in 2008-09 and 23,126 people managed to kick the habit. Smoking is responsible for about 13,000 deaths and 35,500 hospital admissions each year, officials said. Smoking-related illnesses cost the NHS more than £200m a year.

Npower sent low energy bulbs to three million customers

Npower sent low energy bulbs to three million customers

The Green Party accused Npower of taking “inexcusable” shortcuts instead of investing in more effective measures such as loft insulation. Unsolicited mail-outs of light bulbs as an option under the scheme were stopped by the government as of this month.NpowerLow energy light bulbs were scrapped as an option in June 2009 – and the ban came into force at the new year. said the bulbs were “part of a mix of energy-efficient measures”.The regulator Ofgem said it had expressed concern with Npower about the practice of unsolicited mail-shotsThe government ordered energy companies to help pay for measures to cut household energy consumption – such as cavity wall or loft insulation, or by issuing low energy light bulbs – two years ago. Npower – Britain’s third-largest energy supplier – sent an unrequested selection of low energy bulbs to all of its three million customers before the deadline, the Times reported. That met the company’s requirements under the scheme, but will only cut a fraction of the energy that other measures such as cavity wall or loft insulation will achieve, critics claim.

Reduce emissions

Other major energy firms, including British Gas, are thought to have distributed light bulbs before the practice was banned. It was stopped because it was not clear whether the bulbs were being used.

In July, a consultation paper revealed that energy suppliers have sent households about 200 million bulbs as part of the Carbon Emissions Reduction Target (CERT) scheme. Energy suppliers’ research had suggested that 6% of the bulbs would be unused. A Green Party spokesman said: “It is inexcusable to take short cuts by sending out millions of unsolicited light bulbs instead of taking more effective measures such as cavity wall or loft insulation.”

A Department of Energy and Climate Change spokeswoman said unsolicited mail-outs of light bulbs had been stopped because it was not clear whether they were being used and research suggested enough had been distributed to satisfy demand. Energy efficiency driveShe said the ban “means energy suppliers will have to fulfil their obligation by providing more installations of loft and cavity wall insulation instead, which will further reduce emissions and permanently lower fuel bills”.

“We’ve recently increased and extended the obligation meaning even more money will be made available into making homes more efficient,” she added. Npower said it was committed to the CERT scheme and “was doing the right thing by [its] customers and energy efficiency”. A spokesman said: “These low energy bulbs are part of a mix of energy-efficient measures (including cavity wall or loft insulation) – some of which are inherently more expensive than others.

“They should be viewed in the wider context of the 120 projects undertaken by Npower every hour of every day at a cost of over £100m.” Npower customers who have already received low energy bulbs may still contact the company and request financial support for additional carbon reducing measures and will be judged on a case-by-case basis.

Sir Alex Ferguson rules out Manchester United move for Campbell

campbell vs C.ronaldo

The 35-year-old centre-half revealed he would be keen on an Old Trafford move having been released from his Notts County contract last weekFerguson said: “Campbell was a great player. But he is not a player we are thinking about bringing to United.”However, Arsenal boss Arsene Wenger has not ruled out a move for Campbell, saying: “You never say never.”Campbell, who left the Gunners for Portsmouth in 2006, has been training at Arsenal’s training ground in Hertfordshire since leaving County.

Wenger added: “I love Sol Campbell and the fact he came back here and wanted to practice with us shows he loves the club as well.”At the moment, we have four centre-backs and we will always have four.

“If one would go, then I would consider it, but at the moment we are four, so I have no need to sign anybody else.”Sol can still do a job in the Premier League, especially now he is fit. He has worked very hard.”

Campbell, capped 73 times by his country, is a free agent and available in the January transfer window having been released from his five-year contract with the League Two side last week.

Earlier in the week, the former Tottenham star told ESPN he would “love to play for Manchester United”, but without any official contact, added he was “not counting any chickens and just waiting to see what happens”.

United had 15 players missing – including eight defenders – for Tuesday’s 3-1 Champions League win at Wolfsburg and Campbell could have been viewed as an attractive option.Michael Carrick and Darren Fletcher were part of a makeshift three-man defence in Germany and Patrice Evra and Nemanja Vidic are the only regular defenders who are fit.

However, the injury crisis shows some sign of receding with the news that Jonny Evans (calf) could be back in 10 days, while John O’Shea (thigh) may return after Christmas.Ferguson added: “We are having a hard time with centre-backs at this moment in time but I am sure by January most of them will be back.”

It has been suggested the club are experiencing financial difficulties with Ferguson’s lack of transfer activity following the sale of Cristiano Ronaldo to Real Madrid for £80m in the summer.

However, the Scottish boss said: “It has been said I do not have the money, but the money is there if I wanted to use it.”I didn’t see any value in the summer and I don’t see any value at the moment either. I am happy with the players I already have at the club.”

Campbell only settled his contract dispute with Notts County last Wednesday after the club initially refused to release his registration.

He linked up with director of football Sven-Goran Eriksson at Meadow Lane in August but departed less than a month into the deal having played just one game after reportedly becoming disillusioned with the club’s rate of progression.

Cadbury PLC said Monday it plans to publish its formal response to a 9.8 billion pound

Cadbury PLC

LONDON  Cadbury PLC said Monday it plans to publish its formal response to a 9.8 billion pound ($16.3 billion) hostile takeover offer from Kraft Foods Inc. on Dec. 14.Kraft, the maker of Oreo cookies, Nabisco crackers and its namesake cheese, took the offer straight to shareholders of the British candy company on Friday. In doing so, it bypassed the Cadbury board, which had already rejected an almost identical offer last month as “derisory.”

London-based Cadbury noted that it is prohibited under U.S. securities law from making any further statement until it issues its formal response, which it said will be released alongside its previously scheduled trading update next Monday.

Kraft’s move to take the offer, which includes 300 pence in cash and 0.2589 new Kraft shares for each Cadbury share, directly to shareholders started the clock on a series of regulatory deadlines to get the majority support it needs.

It may also flush out rival bids and gives the U.S. company some wiggle room to increase its own offer should competition emerge.

Cadbury, the maker of Dairy Milk chocolate and Dentyne gum, is an attractive acquisition. As one of the world’s largest confectionary companies, it has strong international reach with a key presence in emerging markets.

U.S. chocolate maker The Hershey Co. and Italy’s Ferrero International SA have said they are considering an offer, but have not yet shown their hand. Analysts have also suggested that Nestle SA may be interested, although the Swiss company has made no comment.

Bidders face some strong opposition to the potential loss of the 195-year-old company’s independence. At least one member of Cadbury’s founding family has spoken out against it and the country’s leading labor union is yet to be appeased about potential job losses.

Kraft has said it wants to get the majority shareholder votes by Jan. 5, but it can take until February to complete the process under regulations.

Shares in Cadbury, which have shot up in recent weeks on the prospect of a bidding war, were down 0.6 percent at 790 pence on Monday.

bono The U2 rocker who is worth an estimated £400 million

The U2 rocker who is worth an estimated £400 million – says he devotes so much of his time to charitable projects because he believes he has more money than he deserves to have.Speaking at the launch of Nike’s Lace Up. Save Lives campaign, which raises money for HIV charity (Red) with Chelsea soccer star Didier Drogba, he said: ‘Theseguys are very wealthy. I am very well paid, overpaid and even over-rewarded for what I do. But a lot of these soccer guys are giving something back and they don’t need to do that.Meanwhile, Bono admits he and his bandmates are ‘delighted and humbled’ to have been asked to headline next year’s Glastonbury Festival, which is celebrating its 40th anniversary.He said: “Everyone in the band is very excited about it. I think it will just be about the music on that day, and that spirit that seems to take over everybody in that sacred ground.”We’ll certainly be well-rehearsed, we’ll be coming straight from the North American tour.”U2’s appearance at Glastonbury marks their first festival show in 25 years and it will be the first time the group have performed at the world famous music event.

Harry Potter's Invisibility Suit for Real

Although the cloaks may sound like something from Harry Potter, researchers in London were today given the go-ahead for a £4.9 million project to create a real invisibility suit. In JK Rowling’s stories, the young wizard uses his cloak to move around his school unseen.

Today, researchers at Imperial College said such a garment could soon become a reality. They hope to create a cloak from a new material that can manipulate light.

Normally, when light hits an object, it bounces off the surface and into the eye, making the object visible. The invisibility cloak made from ‘meta-material’ would work by ‘grabbing hold’ of light waves and making them flow smoothly around an object, in the same way that water in a river flows round a stick.

Putting the cloak on would render the wearer invisible to the human eye. The team at Imperial College say the meta-material could have a range of other applications, including creating super-sensitive microscopes and airport security sensors that can spot tiny amounts of chemicals.

However, they admit the Harry Potter cloak is likely to generate the most interest.  Sir John Pendry, who is leading the project, which is being funded by the Leverhulme Trust and will be carried out with the University of Southampton, said: ‘We’ve shown that an optical invisibility cloak is theoretically possible  –  the big challenge now is to build it.’

Intel to pay AMD $1.25 billion in settlement

Intel, the computer-chip giant accused of abusing its market power, will pay Advanced Micro Devices (AMD), $1.25 billion (£755 million) to settle all long-standing disputes over competitive and licensing issues.Intel, which makes 80 per cent of the central processing units at the heart of all personal computers, was accused in 2005 by AMD, its smaller rival, of offering financial incentives to computer makers and retailers to buy its microprocessors.Under the terms of the settlement, AMD said that the two companies will have a new five-year cross license agreement, as well as the one-off settlement pay-out. They will give up any claims of breach from the previous license agreement and drop all pending litigation including the case in U.S. District Court in Delaware and two cases pending in Japan.