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Monday newspaper round-up: British Energy, Moss Bros, Royal Bank of Scotland

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Date: Monday 07 Apr 2008

LONDON (ShareCast) - Germany’s RWE and EDF have entered discussions with Centrica about a possible bid for British Energy, the UK’s leading nuclear generator, says the FT.

Debenhams, which has seen its share price crash over the past two years, has held talks to buy menswear retailer Moss Bros. Sources said the discussions were at an informal stage, and Debenhams has since decided not to press ahead with a bid, reports the Telegraph.

Royal Bank of Scotland is set to announce the third tier of job cuts in relation to its takeover of the Dutch bank ABN Amro in the next two weeks. The third phase will affect rank and file bankers after most management positions were settled in previous announcements, writes the Independent.

EADS, the European defence group, has emerged as a potential buyer of Surrey Satellite Technology, the world’s leading manufacturer of small satellites, according to the FT.

A takeover of Somerfield edged closer last night after it emerged that talks between the British supermarket chain and its suitor, the Co-op, were progressing despite disagreements over price, says the Times.

Setanta Sports, the Ireland-based pay-TV channel, has ended exploratory sale talks after potential bidders demurred from its high price tag, reports the FT.

Active Private Equity has bought a majority stake in Evans Cycles, the independent chain of UK specialist cycling stores, writes the Telegraph.

EON is set for a showdown with the Ministry of Defence after it submitted a planning application for a £700m offshore wind farm despite objections from the ministry, according to the Independent

Icap, the UK-based inter-dealer broker, has agreed to buy Link Asset and Securities, one of the world’s largest equity derivatives brokers, for an initial consideration of £135m, highlighting how volatility is continuing to drive derivatives markets, says the FT.

Alistair Darling has failed to grasp the seriousness of the credit crunch and has based his growth forecasts on over-optimistic assumptions, an influential body of MPs has warned, reports the Telegraph.

The big squeeze on household credit is hurting Britain's army of personal financial advisers, who face a sharp downturn in revenues as lenders withdraw products and close the door to new customers, writes the Times.

Nestlé has teamed up with Boost Juice, the chain of Australian juice bars, to attack Innocent Drinks’ dominance of the smoothie market, according to the FT.

Microsoft has dramatically raised the stakes in its attempt to buy the internet group Yahoo, threatening to lower its $44.6bn (£22.4bn) offer and oust the board unless negotiations proceed immediately, says the Independent.

Britain’s paper-bag industry is protesting against government plans to extend its proposed action against single-use carrier bags to include those made of paper, as well as plastic, reports the Times.

Office lettings in central London fell by almost a third over the past six months as companies scaled back staffing needs and froze office searches because of economic uncertainty, writes the FT.