(BARC.L) Barclays PLC Buy/Sell

The Times

SEEGERS IS DISCARDED AS BARCLAYS SHUFFLES THE PACK

Barclays Chief Executive Frits Seegers is to leave the bank as part of an overhaul of the company's management and business structure. Seegers has resigned as a director with immediate effect and will only remain at the bank for a short handover period. Barclaycard Chief Executive Anthony Jenkins is to be promoted to the executive board and is to take charge of the newly created Global Retail Banking division, reporting directly to Group Chief Executive John Varley. Valerie Soranno Keating is to succeed Jenkins as Barclaycard chief executive.

EUROPEAN FASHION FOR PRIMARK'S BARGAINS LIFTS REVENUE AT ABF

Associated British Foods has reported a 6 percent fall in pre-tax profits to 495 million pounds for the year, caused in part by a 65 million pound loss on the sale of the group's American packaged oil business. Adjusted pre-tax profits increased 4 percent to 655 million pounds based on revenues which were up 12 percent to 9.3 billion pounds. Graham Jones, analyst at Panmure Gordon, said: "The key growth driver was sugar, where ebita (earnings) rose 24 percent, and, while grocery profits where broadly flat for the year as a whole, growth in the second half was an impressive 22 percent."

M&S PREPARES TO DEPLOY BIG BRANDS IN WAITROSE WARS

On Wednesday Marks & Spencer is expected to announce plans to sell branded food at all of its stores following successful trials, a move which is seen as an attempt to close the gap on rival food retailer Waitrose. Analysts expect M&S to report a fall in pre-tax profits for the first six month to 285 million pounds from 297.8 million pounds last year. M&S Executive Chairman Stuart Rose said: "Our trials have shown that an edited selection of branded grocery and household products has a place at Marks & Spencer."

TEMPUS

Hammerson -

New Britain Palm Oil -

Blinkx -

The Daily Telegraph

HSBC TO CUT 1,700 JOBS IN THE UK THROUGH SECOND WAVE OF

RESTRUCTURING

A further 1,700 jobs will be axed from HSBC's UK workforce in the second wave of its restructuring following the economic crisis. The cuts will mostly happen in its credit card and collections businesses as well as in its back office functions. The administrative roles will be axed over the next year, with HSBC's investment banking division remaining unaffected. Paul Thurston, HSBC's UK chief executive, said the move was "difficult, but essential". 12,000 jobs have been cut by HSBC globally.

ALLIANCE BOOTS SALES SOAR TO NINE BILLION POUNDS

First half sales at Alliance Boots rose by 11.6 percent to 9 billion pounds, with like-for-like sales in the UK rising by 3.4 per cent. The pharmacy chain also reported that it has bought back 367 million pounds of its debt at a reduced price of 239 million pounds, taking the total level of debt repurchased over the past year to 558 million pounds. Alliance Boots was taken private in 2007 by executive chairman Stefano Pessina and Kohlberg Kravis Roberts in an 11 billion pound deal.

SUPERMARKETS FACE A WEEK OF PROTESTS

Waitrose and WM Morrison will be targeted by a co-ordinated boycott by a group of organisations in a "week of action" protesting against the sale of Israeli goods. The protests, which will run from Nov. 7 to Nov. 15, will include demonstrations outside stores and plans to "inundate" the chains' head offices with a mass phone-in. The Palestinian Grassroots Anti-Apartheid Wall Campaign accuses the supermarkets of selling products from Israeli settlements in the West Bank. A Morrisons spokesman said: "We believe in freedom of choice." A Waitrose spokeswoman said: "We are not motivated by politics."

QUESTOR

Lloyds Banking Group - (Take up rights)

Barclays (Buy)

The Independent

THRESHERS FRANCHISEES SEEK LEGAL HELP TO AVOID "BANKRUPTCY"

Owners of Threshers franchises are to visit the Oxford law firm Blake Lapthorn to explore their options after their owner First Quench went into administration last week. The franchisees have been told by the administrators KPMG that they will face bankruptcy if they cannot pay the management service fee -- up to 5 percent of sales -- in the next two weeks. Franchisees, however, may be unable to obtain an adequate amount of stock in light of the demise of First Quench.

BLACKS OFFERS LENDERS DEAL TO SECURE ITS FUTURE

Blacks Leisure is hoping to make its future secure and save 4,300 jobs through a company voluntary arrangement. Under the CVA, 89 of the company's worst-performing stores would be closed and Blacks would be allowed to renegotiate the rental terms of its other 291 outlets up until June 2011. Some 7.25 million pounds of compensation, the equivalent of around six months' rent, will be paid out to the landlords of the closing stores.

BP TO TRIPLE IRAQI OILFIELD OUTPUT

The terms of a joint venture to develop the Rumaila oilfield in Iraq have been agreed by a consortium comprising BP, the Chinese company CNPC and the country's State Oil Marketing Organisation. It is hoped that the oilfield's output will grow from 1 million to 3 million barrels per day, making it the second-most productive field in the world by the second half of the next decade. BP and CNPC are set to invest 9.2 billion pounds over 20 years under the terms of the deal.

INVESTMENT COLUMN

Rolls-Royce Group (Buy)

Stagecoach Group (Hold)

Hammerson (Buy)

The Guardian

UNION FEARS FOR 25,000 JOBS AS EU INSISTS LLOYDS AND RBS

MUST SHED BRANCHES

The EU is forcing the sale of more than 900 branches belonging to Lloyds Banking Group and Royal Bank of Scotland. The sale is designed to increase competition in the banking sector and is required in return for the two banking giants receiving government aid. The Unite union is warning it could mean the loss of 25,000 jobs.

EAST COAST MAINLINE NATIONALISED WITH SELL-OFF RULED OUT

BEFORE 2011

The government is planning to take control of the London-Edinburgh train route from National Express due to the company's £977.5m debts. The government will not re-let the contract until mid-2011, losing 179 million pounds in franchise payments. The most significant change to the franchise will be its rebranding to "East Coast". National Express is also in danger of losing its other rail franchises: c2c and National Express East Anglia, if it cannot settle its revenue stream.

AMBASSADOR GROUP BUYS LIVE NATION'S BRITISH THEATRES

The Ambassador Theatre Group has acquired sixteen theatres from Live Nation, including two in the West End, for 90 million pounds. The deal increases the number of Ambassador's British theatres to 39 and lifts the value of the company up to 150 million pounds. Despite the recession, theatre attendance has increased but the cost of maintaining historic theatres is becoming an increasingly bigger burden. Greg Dyke is also set to join the company as executive chairman and is "looking forward to being part of its future".

Prepared for Reuters by Durrants. Keywords: BRITAIN PRESS/BUSINESS

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