Tuesday Papers: BofA searches for assets to sell - bid news and gossip

Financial Times

* Bank of America plans to identify tens of billions of dollars in assets and businesses that it wants to sell or wind down.

* Ratos, the Swedish private equity firm, is hoping to sell its data analysis group Bisnode for about €800m.

* Fees paid to lawyers and accountants for unwinding Lehman Brothers in the US and Europe are on track to surpass €1.55bn.

* The European Central Bank bought €237m of government bonds last week – the biggest amount since the middle of August.

* Sir Stuart Rose is to join private equity group Bridgepoint as an adviser in the first new job for the outgoing Marks and Spencer chairman.

* Royal Bank of Scotland is launching a £4.7bn issue of securities backed by its mortgages in its first securitisation deal of this type since the financial crisis began.

* Jon Hunt, the founder of Foxtons, has launched a property investment company that will fund the development of hundreds of new residential schemes every year in partnership with local companies.

The Guardian

* A further 700 workers at social housing maintenance group Connaught lost their jobs tonight.

* Hedge funds are targeting shares in Tullow Oil as the company announced further finds in Africa.

* Alibaba, China's biggest online marketplace, launches platform AliExpress as it sets its sights on the US, India and Japan.