Thursday Papers: tips and comment

FT Lex Column:

* California currency chaos -- after paying certain debts in registered warrants, the state is considering a bill that would allow tax debts to be paid in this temporary scrip

* Google/Microsoft -- there is no clear reason why Microsoft should quake over Google's intention to launch a free, fully fledged operating system by next year

* US stimulus, part II -- the most telling thing about the recent calls for a second stimulus package in the US is that the bond market has looked the other way

* UK bank regulatory reform -- the government's White Paper on reforming financial markets suggest it wants to keep much of the existing regulatory tackle, just give it more oomph

* Bertelsmann -- the KKR deal is intriguing, but the German publisher remains saddled with debts it took on to fund the buy-out of a minority shareholder in 2005

* Marks & Spencer -- the investor disquiet at the retailer has been distorted into an argument over whether shareholders are for or against Sir Stuart Rose

* Container shipping -- companies are struggling with anaemic demand and near-comical levels of oversupply

* Japan's economy -- loan growth is decelerating, in part as companies and households grow more nervous about borrowing

* China loan growth -- Beijing may be prepared to do whatever is needed to both quell the Xinjiang riots and manufacture an 8% economic growth rate.

Lombard (p.18):

* Financial stability: hard to look on the bright side -- IBM: Big Blue's benefit blues

Other comment:

* Insolvency: in death do we part (p.11)

* Media bear the brunt of internet onslaught (p.20)

* Aviva dividend fear adds to concerns as insurers tumble (p.36)

* Delay worry puts pressure on Cairn Energy (p.36)

* Rumours of deeply discounted £150 million fundraising hits Northgate (p.36)

* Bateman Litwin dip amid talk of a cash calL

DAILY TELEGRAPH

Questor:

* Buy JP Morgan Indian Investment Trust -- Buy Cape

Comment:

* Mervyn King should look past toothless White Paper and beware Tory reforms -- New regulations fail to give due credit

Other comment:

* Mabey and Johnson to plead guilty to overseas corruption charges

THE INDEPENDENT

Investment Column:

* Buy Tullow Oil -- Buy Carillion -- Buy Booker

Outlook:

* Will Alistair Darling's plan pass the litmus test? -- Google's next move flies in the Windows

THE GUARDIAN

Viewpoint:

* Bank reforms: he drift, not the rift, is the issue -- Marks & Spencer shareholders are very angry about the way the company is being governed

Other comment:

* Rupert Murdoch's News Group has paid out more than £1 million to settle legal cases that had threatened to reveal evidence of journalists' repeated involvement in the use of criminal methods to get stories

DAILY MAIL

* Britvic fizzes on Diageo bid talk

* Talk of a pending bearish circular hits Cookson

* Interview David Owen, chief executive Thames Water

SHARES MAGAZINE

Plays:

* Buy BGlogal at 16.25p -- Sell WPP Group at 391p

Updates:

* Take profits in Barratt Developments and Sutton Harbour

Where to stash your cash:

* Buy First Quantum Minerals, BP and Land Securities

The Griller:

* Randeep Grewal, chief executive Green Dragon Oil & Gas

Sector report:

* Buy Kingfisher -- JD Sports -- Dunelm.