Saturday Papers: DTCC in talks over possible EMCF stake - bid news and gossip

Financial Times

* The Depository Trust & Clearing Corporation, the US post-trade group, is in talks about buying a stake in European Multilateral Clearing Facility.

* The board of Australian-listed infrastructure operator Intoll Management has recommended an improved takeover offer from Canada Pension Plan Investment Board which values the company at A$3.4bn ($3.1bn).

* Hewlett-Packard on Friday topped Dell’s offer for data-storage firm 3Par for the third time in a week, offering $30 a share.

* Phoenix Group Holdings, the life assurer formerly known as Pearl, on Friday reported a substantial improvement in first-half profits and upgraded its guidance on expected cash inflows; an interim dividend of 21p has been proposed.

* SVG Capital reported investment gains in the six months to June after a rebound in the performance of Permira’s biggest portfolio companies.

* US antitrust regulators on Friday gave the green light to the proposed merger between Continental Airlines and United Airlines.

The Daily Telegraph

* Royal Bank of Scotland has ended its sponsorship of The Open Championship after nine years of supporting the UK golf event.

* Some of Scotland’s richest businessmen have announced they are to spend £10 million to start rolling out a traditional ‘people’s bank’ to the country’s high streets.

The Guardian

* Sales of Aga and Rangemaster cookers drive £16.4m pre-tax profit.