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Thursday newspaper round-up: Br Energy, Vodafone, Barclays

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Date: Thursday 17 Apr 2008

LONDON (ShareCast) - The German power giant RWE has teamed up with Vattenfall, of Sweden, to bid for British Energy, the Times has learnt.

Vodafone is considering joining the bidding for Tiscali as the Italian telecoms group set a deadline of May 5 for initial non-binding offers, writes the FT.

Woolwich, the mortgage arm of Barclays, will increase rates for buy-to-let investors from today, reveals the Times.

The Treasury is set to give the go-ahead for a Government-backed plan to help mortgage companies start lending again in the wake of the credit crunch,” says the Telegraph.

The war over unfair charges may have backfired on card-holders, according to the latest research on credit card costs, with credit card providers hitting back at charge capping with a 15 per cent hike in other charges, writes the Independent.

The pensions regulator will be granted sweeping new powers to impose fines on owners of pension schemes that fall into deficit, under plans unveiled by the government, says the FT.

Justin King, the chief executive of J Sainsbury, has set the UK's third largest supermarket on a potential collision course with the Government over its threat to force retailers to charge for plastic bags, writes the Telegraph.

American hedge fund billionaire John Paulson was his industry's biggest earner in 2007 thanks to a bet against sub-prime mortgages that netted him $3.7bn (£1.9bn) in personal profit, according to the Telegraph.

A handful of the City’s leading hedge fund managers shared an extraordinary payout of more than $2 billion last year as star dealers profited from the meltdown in America’s sub-prime mortgage markets, adds the Times.

Lord Stern, the economist whose report on climate change helped galvanise world leaders behind the green energy movement when it was published 18 months ago, has admitted that the situation is far worse than the assumptions that formed the basis of his ground-breaking report, writes the Independent.

Signs that the credit crunch is hitting Britain's jobs market emerged yesterday as official figures showed the first rise in the number of people out of work and seeking benefit since 2006, says the Times.

The European Union's commissioner for trade, Peter Mandelson, has warned that "gratuitous snubs" and "gimmicks" aimed at disrupting the Olympic Games could lead to Beijing failing to cooperate in the current round of world trade talks and the post-Kyoto discussions on climate change, says the Independent.