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TNT N.V has confirmed that it is selling off its Freight Management division. In its third-quarter results TNT reported an 8.9 per cent rise in operating profit to £172 million.

Small and medium-sized transport companies are not protecting themselves from bad debt and 45 per cent of those polled, have no plans for unexpected debt, according to research from Bibby Financial Services.

United Biscuits, owner of the McVitie’s, go-ahead and Jacob’s brands, has been sold for over £1.6bn to private equity firms, The Blackstone Group and PAI partners.