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Monday newspaper round-up: Bradford & Bingley, Mitchells & Butlers, LSE

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Date: Monday 14 Apr 2008

LONDON (ShareCast) - Denials by Bradford & Bingley of plans for an imminent rights issue come amid broader concerns among shareholders that other UK banks will need to raise capital in coming weeks, says FT.

Mitchells & Butlers, the struggling pub chain, is considering buying part of Punch Taverns just weeks after the two companies' merger talks were abandoned, reports the Independent.

Mortgage lenders are to be told to pass on interest-rate cuts to their customers in return for easier and longer loans from the Bank of England as it tries to restore order to the housing market, the Times has learnt.

The City faces the worst employment downturn since the dotcom crash, with up to 20,000 job losses in the financial services sector in the next two years, according to forecasts to be published this afternoon by the Centre of Economic and Business Research (CEBR), writes the Independent.

Bumper annual cash bonuses for bankers could soon be outlawed after finance ministers from around the world ordered a major overhaul of the industry's pay system, according to the Telegraph.

In a challenge to the London Stock Exchange’s success in drawing big initial public offerings, rival NYSE Euronext has launched a “fast path” campaign to persuade Chinese, Indian and Russian companies planning initial public offerings in the US to list partially in Europe as well, says the FT.

London is to get a new six-star hotel after Israeli group Alrov Properties signed a £90m deal yesterday to buy the Regent Street building that houses the historic Cafe Royal, reports the Telegraph.

Sales of tax-free individual savings accounts (ISAs) for the 2007-08 tax year are expected to be the worst on record, as fears over the credit crunch and the precarious nature of the economy take their toll, writes the Independent.

Activist investor Jack Petchey is expected to push for a strategic overhaul of struggling car dealership Pendragon, after secretly amassing a 13pc stake in the business, according to the Telegraph.

BT’s rivals are “up in arms” about the telecoms group’s efforts to increase fees UK broadband providers pay it after taking control of landlines running to customers’ homes, according to Charles Dunstone, chief executive of Carphone Warehouse, says the FT.

The Local Authority Pension Fund Forum has added its name to the growing list of critics of Marks & Spencer's plan to promote its chief executive Sir Stuart Rose to the post of executive chairman, reports the Independent.

Liberty Global, the international cable business chaired by US media tycoon John Malone, is considering bidding for Virgin Media's television channels, writes the Telegraph.

The UK's economy is heading for a soft landing, despite predictions of a global slowdown after the credit crunch, figures released today by Royal Bank of Scotland will suggest, according to the Independent.

The future of Alitalia will be decided today, with Air France poised to walk away from a deal if Silvio Berlusconi triumphs in the Italian general election, says the Telegraph.