Thursday Papers: GE acquires Dresser for $3bn - tips, comment and bids

(Updated with Telegraph share tips)

Financial Times

* General Electric has acquired Dresser, a Texas-based maker of gas engines used to power oil and natural gas production, for $3 billion; the deal came after GE confirmed it had made a $1.2 billion offer for Wellstream but had been rebuffed.

* Renault is selling most of its stake in Volvo, the Swedish truck group, in a long-expected disposal that will fetch the French carmaker about €3 billion.

The Lex Column

* Currencies: mutually assured devaluation - The financial equivalent of war may be needed to get international agreement.

* Rio Tinto/BHP joint venture - Companies should be relieved the Pilbara JV seems to have collapsed.

* Baseball’s fortunes - Falling attendance is no worry (yet) for the booming business of baseball.

* Mexico’s century - Investors renew their fatal attraction to developing countries.

* EasyJet - The budget carrier still faces turbulence despite good results.

Editorial

* Not all quiet on the currency front - The scent of war is in the air.