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

Financial Times

* Some of the biggest private equity groups are in talks with Nokia Siemens Networks about investing about $1bn for a stake in the mobile infrastructure group.

* French luxury conglomerate PPR said it had received “significant signs of interest” in its retail arms, which generate 63% of group sales.

* Anil Ambani’s entertainment group has entered exclusive talks with Universal Studios to create India’s first film-themed amusement park in a move by the Indian billionaire to bring the magic of Hollywood to Bollywood.

* BP would be blocked from winning future drilling permits in the US because of its safety record under energy legislation passed on Friday by the House of Representatives.

* Thousands of people on middle incomes risk paying higher taxes after the government introduces sweeping changes to the pension system next year.

* Lloyds is expected to post a profit of about £1bn for the first half.

* Bob Dudley, BP’s incoming chief executive, will fly to Moscow next week to meet shareholders in its Russian joint venture TNK-BP.

* Japan’s Nomura posted an 80% plunge in quarterly profit.

The Daily Telegraph