Tuesday Papers: Hugo Boss to increase number of stores - bid news and gossip

Financial Times

* Hugo Boss plans to increase its number of stores from about 450 this year to 700 by 2015; the German fashion house is trying to lift sales from €1.6bn last year to €2.5bn by 2015.

* The BP oil spill in the Gulf of Mexico represented a “renewed call” for oil companies to think about their operations, but would not fundamentally change the industry, according to Jack Gerard, the president and chief executive officer of the American Petroleum Institute.

* Research in Motion and India’s government avoided a standoff on Monday by agreeing to extend for two months talks over a demand to open all BlackBerry services to scrutiny by the country’s intelligence agencies.

* More than half the big initial public offerings in Europe this year are trading below their issue price, according to data from Dealogic, prompting claims from institutional investors that companies are being sold at unrealistic valuations.

* LCH.Clearnet slashes fees to London market participants.

The Daily Telegraph

* Genzyme, the US biotech company, has rebuffed an $18.5bn cash offer from French pharmaceutical giant Sanofi-Aventis.

* Competition on two of the busiest transatlantic routes is set to intensify with Delta Airines applying to run services from London's Heathrow airport to Boston and Miami.

* Moody's rating agency is concerned that China is powering its economic growth by raising the gearing of the banking system, leaving the country exposed if the outlook darkens.

The Guardian

* Cabin crew may strike again as BA rejects demands.