Saturday Papers: Buy-out groups eye $1bn stake in Nokia Siemens Network - bid news and gossip

The Guardian

* Disney sells Miramax to investment group for $660m.

* BP's incoming boss says clean-up operation may be scaled down; the oil giant appoints US government expert to help recovery as it prepares to permanently plug Gulf well with cement.

* Bradford & Bingley moved to a £896m half-year profit – £80m if two large one-off items are excluded – from a £160m loss.

* A vote by US lawmakers has given PartyGaming and other online bookies cause to hope that America's four-year ban on internet betting could soon be lifted.

* Free broadband firm TalkTalk to launch mobile phone service.

* Rentokil cost-cutting drives 39% profits rise.

The Independent

* British Airways was dragged down to a £164m pre-tax loss in the first quarter by the £250m cost of cabin crew strikes and the volcanic ash cloud, the carrier said yesterday.

* Hong Kong's business “Superman” Li Ka-Shing is paying £5.8bn for energy giant EDF’s 100,000 miles of the UK’s electricity network.

* Primark has poached a director, John Lyttle, from rival Matalan to the strategically important role of chief operating officer.

Daily Mail