Tuesday Papers: tips and comment

FT Lex Column:

* Allianz -- it seems to be a case of tortoise versus hare, and investors appear to favour France's Axa, whose shares have delivered a roughly 145% return

* US oil refiners -- capacity utilisation is now barely above 80% and may go lower next year as huge and efficient new refineries, mostly in Asia, worsen the glut

* Northrop Grumman/TASC -- private equity buyers are back and, rather than being intent on making a quick buck, are styling themselves as long-term, caring investors

* Kraft bids -- moving from disciplined to tight-fisted is the wrong tactic and gives the impression Kraft is doing its best to pick up Cadbury on the cheap

* Axa vs APH -- five years ago Axa's chief failed in a bid to buy out minorities in Axa Asia Pacific Holdings - now he's back, and he's mob-handed.

Lombard (p.20):

* Cadbury:

* Kraft decided to string it out rather than bid it up -- Banks: bring bosses on board

Other comment:

* Independent brokers score with attention-seeking 'unloved' midcaps (p.22)

* Cable & Wireless hit by doubts about impact of its break-up plans (p.36)

* Talk of interest in Heritage Oil's Ugandan assets (p.36)

* Axa's Asia buy-out lifts Prudential (p.36)

THE TIMES

Tempus:

* Hold on to IMI -- Hold Hiscox -- Awaiting further progress before buying TT Electronics

Business Editor:

* Kraft will make a meal of Cadbury bid battle -- All aboard National Express's mystery tour -- Where are all the virtuous bankers?

Other comment:

* Business big shot: Kristian Segerstrale, computer games entrepreneur

* Speculation that Petra Diamonds is close to initiating a £60 million fundraising

* Hopes of bullish Extract report lifts Kalari Minerals

* Bet of the day: Vodafone

* Lok'n Store a tiddler to watch

DAILY TELEGRAPH

Questor:

* Buy G4S -- Buy IMI

Comment:

* Yes we need renewable energy but just wait for your bills to go nuclear -- Kraft bid easy for Cadbury to reject

Jeremy Warner: Britain's public sector faces the Geddes axe

Other comment:

* Marks & Spencer to push for party profits

THE INDEPENDENT

Investment Column:

* Buy G4S -- Hold Inmarsat and Kier Group

Outlook:

* Cadbury shareholders can't allow Kraft to win -- Bankers hold the whip hand and know it

Other comment:

* The mystery of the rising house prices

THE GUARDIAN

Viewpoint:

* Cadbury: a bid at this level is no more than fun-size -- Tory muddle -- Oil speculators: pump priming?

Other comment:

* The world is much closer in running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency

DAILY MAIL

* Bmi set to jettison landing slots to reduce its debt pile

* Gazprom woes hit Britain

* Talk that African Diamonds is about to replace De Beers with another party in joint venture

* Rehashed bid speculation swirls around Smith & Nephew

DAILY EXPRESS

* Talk of a bullish update lifts Frontera Resources.