The Lex Column:
*Mine games - Not just the wrong ballpark, but two ballparks down the road. That is the distance BHP Billiton's (BLT) share-based approach for Rio Tinto (RIO) lies from fair value, says Rio's chief executive.
*Virgin for Rock (NRK) - It's good for Virgin. It's good for the government. But is it good for anyone else?
*Talking currencies - Central banks may be gearing up for something stronger than trying to manipulate currencies verbally. But direct intervention in foreign exchange markets would mark a sharp change of tack.
*Retail's solid start - Black Friday, to the retail industry's relief, did not portend the Black Death of the US consumer. Sales appear to have surpassed retailers' low expectations over the weekend.
*Banks and SIVs - By consolidating $45-billion of assets on to its balance sheet from two investment vehicles, HSBC (HSBA) has helped reduce some of the overhang in the market.
The Lombard Column:
*Bransonism could displace pessimism at the Rock (NRK).
*Myths vs legend (Blackstone).
*Knight not so errant (HSBC (HSBA)).
Further news:
*Branson’s £200-million for rescue of Rock (NRK).
*How WPP (WPP) leads the field in Washington's power game.
*Bodycote (BOY) and FKI (FKI) take tumble after UBS sales warning.
*JJB (JJB) feels England’s pain.
*Takeover talk swirls around Royal & Sun Alliance (RSA).
The Business Commentary Column:
*Taxpayers should be worried by terms of Northern Rock (NRK) rescue.
*HSBC (HSBA) right to grasp nettle.
*BHP (BLT) deal, but not at any price.
Business Big Shot:
*John Coomber.
The Tempus Column:
*Worth holding - Mitchells & Butlers (MAB).
*Buy on weakness - MITIE Group (MTO).
*Hold - Hyder Consulting (HYC).
Further news:
*Benfield (BFD) rises on talk of interest from Aon.
*Biffa (BIFF) was the worst FTSE-250 performer, down 33.75p at 291.5p, as it said that it had not heard from private equity bidders since September.
*Talk that PSG Solutions (PGS) is ready for an acquisition of up to £20-million.
The Comment Column:
*Game of chicken ahead as Rock (NRK) stumps the market.
*Global forces put the Bank (of England) on the spot.
*Remembering Ratty, a man of honour (the late Richard Ratner).
The Questor Column:
*After the M&A deluge, catch the wave of water company optimism (Severn Trent (SVT), Kelda (KEL), Pennon Group (PNN), United Utilities (UU.)).
Further news:
*Bid hopes revive Rock (NRK) but banks find it hard going.
*Vague bid rumours lift Game Group (GMG).
*Lord Young is 'appalled' by the £5-million payoff to ousted Cable & Wireless (CW.) executive.
*Luqman Arnold leads bidders looking to rival Virgin in battle for Northern Rock (NRK).
*Kelda Group (KEL) accepts £10.90-a-share offer from Saltaire Water consortium.
*British Airways (BAY) and TPG abandon plans to bid for Spain's Iberia.
*AMEC (AMEC) says it has not been preparing a bid for Wood Group (WG.), saying that it has a strong long-term working relationship with the company.
*Chinese sound out Rio Tinto (RIO) on possible bid to block BHP (BLT).
*Rio Tinto (RIO) to sell $30-billion of assets and raise dividend in BHP (BLT) battle.
*Southampton Leisure (SOO) still in talks on indicative offer.
*BG Group (BG.) in talks with the London-listed subsidiary of Kazakhstan, KazMunaiGas, over new joint ventures in oil and gas.
*Invista Foundation Property Trust (IFD) is to sell more assets, after admitting it had not predicted the ferocity of the commercial property slump.
*Peter Gyllenhammer raises stake in Hartest Holdings (HTH) to 26.03%.
*Sports Direct (SPD) to seek shareholder approval to buy back a further 15% of company.
*Reuben Power is to join AIM next month.
*Hipcricket, placed at 262p and Tracsis placed at 40p start trading on AIM today.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed down 237.44-points at 12743.44, the Nasdaq fell 55.61-points to 2540.99, while the S&P lost 33.48-points to close at 1407.22.
*US stock prices and bond yields plunge as credit fears grow, in spite of aggressive efforts by the Federal Reserve to head-off a year-end funding squeeze.
*US Federal Reserve pumps $8-billion into market to head off new credit crunch.
*Goldman Sachs warns that HSBC (HSBA) might need $12-billion in additional provisions to cover its exposure.
*HSBC (HSBA) unveils $45-billion plan to bail out Special Investment Vehicles.
*The Abu Dhabi Investment Authority will shore up Citigroup's (CGP) overstretched balance sheet with a capital injection at a coupon of 11%.
*More jobs are expected to go at Citigroup (CGP) as it starts a second review of staff costs.
*US online sales surge, exceeding holiday hopes.
*Stephen Schwarzman, the boss of Blackstone outlines fresh vision for private equity at the CBI conference.
*Today Alistair Darling will signal that concessions on capital gains tax will be made before Christmas.
*Labour's General Secretary Peter Watt has resigned, after admitting that he had approved an arrangement under which a wealthy supporter hid details of his donations to party coffers.
*The latest ComRes poll for the Independent puts the Tories 13-points ahead of Labour, the highest for 19-years.
*Barclays (BARC) vice-chairman says credit crunch has damaged UK banks' reputation.
*British Energy (BGY) names likely site for new nuclear generation plant.
*Staff at the Department of Works and Pensions have voted in favour of strike action over pay.
*US paves way for long-term stay in Iraq.
*A spokesman for General Musharraf says he will step down as army chief.
*Little optimism as Middle-East peace talks get underway.
Compiled in association with HB PLC and WH Ireland Ltd
