Friday Papers: GM acquires AmeriCredit in $3.5bn deal - bid news and gossip

Financial Times

* General Motors has agreed to buy AmeriCredit, a Texas-based vehicle finance company, for $3.5bn in cash.

* Standard Life rejects £2.9bn Tomkins offer amid suggestions that some shareholders could demand £3.5bn or more for the business.

* Blackstone has raised a greater-than-anticipated $13.5bn for its new buy-out fund, the biggest since the financial markets crisis, in a strong quarter in which income rose 13 per cent to $205m.

* Microsoft’s sales climbed to $16.04bn in the three months to the end of June amid a global rebound in PC sales; net income jumped by 48 per cent to $4.5bn, or 51 cents a share.

* Nokia's second-quarter net profits were €104m, down from €287m in the same period last year; sales were up 1 per cent at €10bn.

The Daily Telegraph

* UPS delivered a 90pc increase in profit in the second quarter, rising to $845m from $445m in the same period last year.

* Caterpillar reported a 91pc jump in profits in the second quarter on increased demand.

* 3M reported a 43pc profit increase in the second quarter.

Daily Mail

* Uniq may need rights issue to fill £436m pension deficit.