Thursday Papers: Citi scales back consumer finance unit sale - tips, comment and bids

Financial Times

* Citigroup has scaled back the planned sale of its former CitiFinancial unit as part of negotiations with Centerbridge and Leucadia, as potential buyers grapple with how to fund the business as a standalone entity.

* NYSE Euronext shareholders on Thursday are expected to vote to approve the US group's merger with Deutsche Börse.

* Shares in Axis-Shield leapt 49% on Wednesday after the Scotland-based diagnostics group said it had rejected a £230 million offer from US rival Alere.

* CRH, the Irish building materials group, has agreed to pay about €100 million for Belgium’s VVM Group.

* Ontario Teachers’ Pension Plan is selling its 12% stake in Hammerson, the retail and offices property developer, for more than £400 million.

The Lex Column

* Portugal and the eurozone: mood sours - the mood has soured once again, with investors appearing increasingly convinced that the crisis cannot be contained.

* UK law firms: compelling defence - the big groups timed their staff cuts well and will go on to greater things in part because they get paid for time spent rather than outcomes.

* Equity risk premiums: just the sideshow - as the quarterly earnings season approaches, there is much talk about equity risk premium, but wise investors will ignore the chatter.