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Thursday’s newspaper round-up: Bradford & Bingley, London Stock Exchange, Expro

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Date: Thursday 26 Jun 2008

LONDON (ShareCast) - Resolution, the investment fund run by Clive Cowdery, has so far failed to persuade Bradford & Bingley to open its books following its proposed £400m investment, with the two sides remaining locked in talks last night, reports the Independent.

The London Stock Exchange will on Thursday unveil a pan-European equities trading platform in a joint venture with Lehman Brothers to fight rivals that are eroding its market share, writes the FT.

Investors in Expro, the UK oil services provider, will today ask a judge for a lengthy delay in approving a £1.8billion takeover bid by a private equity consortium to try to let a rival suitor, Halliburton, the world's second-largest oilfield contractor, to bid again for the company, says the Times.

Barclays' long-awaited fundraising to recapitalise its thin balance sheet yesterday got a rousing welcome from shareholders, who applauded the £4.5bn deal that could see the Gulf state of Qatar emerge as the bank's largest investor, writes the Telegraph.

Barclays Capital plans to charter its own fleet of ships within a year as the investment bank enters the volatile shipping market, reports the FT.

There is “a real possibility” that ITV could give up its privileged status as a public service broadcaster, Ofcom, the communications watchdog, said on Wednesday as the regulator disclosed that it was examining the possible financial consequences of such a move, reports the FT.

The group of banks that funded the £1.26 billion acquisition of Emap’s business-to-business arm by Apax Partners and Guardian Media Group (GMG) have had difficulty passing on some of their lending, in what may have serious implications for future media deals, reports the Times.

British Airways and BAA put their often prickly relations to one side yesterday to launch a scathing attack on David Cameron and business leaders who have called for the scrapping of plans to build a third runway at Heathrow, reports the Independent.

Marks & Spencer investors should vote against the appointment of Sir Stuart Rose as executive chairman at the group's general meeting next month, one of the UK's largest shareholder bodies has recommended. PIRC, which advises local authority pension funds and institutional shareholders, said it made the recommendation with "reluctance".

The Russian president Dmitry Medvedev says the country's state-owned energy giants have no plans to buy into TNK-BP, says the Telegraph.

Greencore, the Irish food company, is taking legal advice on how to recover up to €21m (£16.6m) lost after the discovery of an alleged fraud at its Scottish mineral water subsidiary, says the FT.

Barack Obama, the Democratic presidential candidate, has urged the Tesco chief executive Sir Terry Leahy to engage with the largest food workers' union in the US over the employment rights of workers at its Fresh & Easy convenience stores, reports the Independent.

The bosses of Britain's biggest pub groups could be called before MPs after a Parliamentary inquiry was launched to investigate whether pub companies have too much power, says the Telegraph.

UBS, the biggest victim of the credit crunch in Europe, has hired Lazard, the financial advisory group, to conduct a review of the bank to help to decide which of its businesses should be expanded and which reduced, says the Times.

Anheuser-Busch, the owner of Budweiser beer, was last night preparing to reject a $46 billion (£23 billion) offer from InBev in a move that could spark a hostile takeover battle by the Belgian rival, reports the Times.

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