<strong>FINANCIAL TIMES<br /><br />BLUECREST TO RELOCATE 50 STAFF TO GENEVA<br /></strong>BlueCrest Capital, one of the UK’s largest hedge funds, is moving a significant portion of its operations to Geneva amid growing concerns about London’s status as a centre for alternative asset managers.<br /><br />Founded in 2000 by former JPMorgan traders Bill Reeves and Mike Platt, the $15.5bn firm is the third-largest hedge fund manager in Europe. It is looking to relocate 50 staff.<br /><br /><strong>RBS CHIEF UNDER FIRE OVER ANGLO BOARD ROLE</strong><br />Shareholders are protesting that Sir Philip Hampton has taken a non-executive board position at Anglo American as well as a full-time role as chairman of RBS. Investors are concerned his new role at the mining group will distract him from steering RBS out of its difficulties. <br /><br />Kraft backed to succeed in Cadbury offer Up to 14 per cent of Cadbury’s share register is estimated by brokers to be controlled by hedge funds that are betting Kraft will raise its $16.2bn (£9.8bn) offer for the UK confectioner, increasing the likelihood that its hostile bid will succeed.<br /><br />Brokers predict that towards the end of the bid battle, so-called merger arbitrageurs could own more than a quarter of Cadbury’s stock, potentially shifting the outcome of the deal in Kraft’s favour.<br /><br /><strong>FENNER MAINTAINS DIVIDEND AS DEMAND JUMPS</strong><br />Industrial beltmaker Fenner maintained its full-year dividend as it pointed to recovering markets following a year of falling profits and cost cutting, during which customers reduced stocks of its parts. The company is a world leader in the supply of conveyor belting to miners and manufacturers.<br /><br /><strong>THE TIMES<br /><br />NUCLEAR POWER INDUSTRY MAY BENEFIT FROM CLIMATE CHANGE LEVY EXEMPTION<br /></strong>The Government is considering fresh tax breaks for Britain’s nuclear power industry that could smooth the way for the construction of a new generation of UK reactors, The Times has learnt. Officials at the Department for Energy and Climate Change have been studying the possibility of an exemption for nuclear electricity from the climate change tax.<br /><br /><strong>BMI STRUGGLES TO GET SALE OF LANDING SLOTS OFF THE GROUND</strong><br />British Midland (bmi) may struggle to raise the £95m in funding it needs to keep flying because potential buyers for its Heathrow landing slots have become thin on the ground. A number of the world’s leading airlines have expressed little or no interest in bmi’s fire sale<br /><br /><strong>The Daily Telegraph<br />ROLLS-ROYCE’S SIR JOHN ROSE ATTACKS UK DITHERING OVER ENERGY, INDUSTRIAL POLICY<br /></strong>Rolls-Royce chief executive Sir John Rose has attacked Britain’s indecision over energy and industrial policy, which he said is putting job creation and economic growth at risk. “Our response to energy efficiency and energy security will define the country’s future,” he said in a debate at the RSA in London.<br /><br /><strong>CABINET SPLIT OVER BACKDATED PORTS RATES BILLS</strong><br />Home Secretary Alan Johnson has provided evidence of a Government split over backdated business rates for port companies by urging a Cabinet colleague to intervene on behalf of one of his constituents. Johnson wrote to John Denham last month requesting that he make representations on behalf of Harding Cargo Handling.<br /><br /><strong>WALL STREET JOURNAL<br /><br />MACY'S LOSS NARROWS, BUT OUTLOOK DISAPPOINTS<br /></strong>Macy’s raised its full-year profit forecast after reporting a loss yesterday, but its shares declined as the revised outlook fell short of analysts’ estimates. The Cincinnati-based retailer, the first of several department-store chains to report earnings this week, has struggled all year amid declining mall traffic and reduced discretionary spending, but said it has noticed improvement as it heads into the holiday season. <br /><br /><strong>CHAIRMAN TIGHTENS GRIP AS GM REBUILDS</strong><br />The government-appointed chairman of General Motors gave fresh signs that he is tightening his control, saying the board isn’t comfortable with management’s forecasts for 2010 and the chief executive’s timetable for an initial stock offering is too optimistic.