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Tuesday newspaper round-up: Barclays, Royal Bank of Scotland, BSkyB

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Date: Tuesday 26 Feb 2008

LONDON (ShareCast) - A proposed $3 billion (£1.5 billion) bailout of Ambac, the bond insurer, by a consortium that includes Barclays and Royal Bank of Scotland could be at least a week away and may not be enough to rescue the firm, says the Times.

The Competition Appeal Tribunal will face two conflicting complaints over British Sky Broadcasting’s stake in ITV, after Virgin Media lodged a last-minute appeal against the decision to force its satellite rival to sell most of its holding, writes the FT.

Visa has announced an $18.8bn (£9.5bn) fundraising that will rank as the biggest initial public offering ever seen in the US. It comes as the credit crisis continues to destabilise financial markets, and in the middle of an otherwise arid spell for stock market flotations, reports the Independent.

Marks & Spencer’s ready-made curries soon may grace India’s kitchens, after the British retailer held talks with Reliance Industries about selling its food range on the subcontinent, according to the Times.

Nervous retail investors pulled record amounts from funds last month, confirming fears that the credit crunch and market jitters have taken their toll. Far more investors removed their capital than invested it, according to figures from the Investment Management Association yesterday, says the Independent.

Former Federal Reserve chairman Alan Greenspan said the US economy has stalled and may take longer to recover than normal, writes the Telegraph.

Two of the world's most famous video games developers were last night in a tense stand-off over a potential merger deal that would bring the Grand Theft Auto series under the same roof as The Sims and Fifa soccer titles, reports the Independent.

International lawyers are descending on London to persuade British non-domiciles to re-locate as pressure grows on the Chancellor to delay controversial plans to levy £30,000 a year on foreigners resident in the UK, according to the Telegraph.

The European Union will agree tomorrow on "a set of principles for transparency, predictability and accountability" for Sovereign Wealth Funds, according to the president of the European Commission, José Manuel Barroso, says the Independent.