Tuesday Papers: tips and comment

Comment on RBS, B&B, Punch Taverns, M&S, Michael Page, Morgan Crucible and easyJet.

FT Lex Column:

* European banks' capital raising -- will Europe's banks need another trip to the cash machine? Most banks reckon not

* Yahoo's yo-yo -- since Microsoft's failed takeover attempt, shareholders in Yahoo have leapt and swooned at every scrap of news about a fresh deal

* BCE and return of leveraged buy-outs -- if this marks the return of the leveraged buy-out, it is a cautiously muted one

* Fresnius/APP -- performance-based deals, or 'earn-outs,' could be set to spread to public markets, and on a much bigger scale

* Punched Taverns -- Punch Taverns, formerly of the FTSE 100, has seen its share price drop by 80% from last summer's high. A presentation to analysts is meant to assuage fears about the company's financial position

* China Oilfield buys Awilco Offshore -- high oil prices and dwindling resources have put a rocket under the price of equipment and services providers and triggered a wave of consolidation.

Lombard (p.20):

* A prudent policy for promoting the use of biofuels -- EMI: cold cycle to Coldplay -- Bradford & Bingley: first mover advantage

Other comment:

* Are financial investors driving up the cost of commodities? (p.13)

* Fund Focus: Morningstar managed funds (p.29)

* Talk that Gartmore has acquired a 9% holding in Freedom4 from M&G (p.42)

* Balance sheet concerns unsettle Topps Tiles (p.42)

* First Calgary Petroleum falls amid fears that funding talks had stalled (p.42)

* Talk that Independent Resources is looking to raise £10 million via a placing (p.42)

THE TIMES

Tempus:

* Avoid Michael Page -- Buy Punch Taverns -- Sit on the sidelines at GLG Partners

Business Editor:

* Marks & Spencer: grass seems greener on the other side -- Anheuser-Busch: family at war -- Hedge funds with high ambition

Other comment:

* Royal Bank of Scotland falls to nine-year low amid fears over bad loans

* Talk of an imminent contract for Oxford Catalysts

* Aurelian Oil & Gas a tiddler to watch

DAILY TELEGRAPH

Questor:

* Hold Michael Page -- Buy Spice

Comment:

* Messrs Bradford & Bingley can hang up their hats -- Consultants at Hay Group reckon Britain suffers from a lack of leadership experience -- Interest rates: high time for the Monetary Policy Committee to act

Other comment:

* Royal Bank of Scotland offers staff with experience of recession

* Royal Bank of Scotland touches eight-year low on fears for Dutch arm ABN Amro

THE INDEPENDENT

Investment Column:

* Sell easyJet -- Buy Morgan Crucible -- Cashbox a cautious hold

Outlook:

* Think the unthinkable. Might banks have to seek even more rescue capital? -- Interest rates: Bank of England impotent as policy dilemma bites -- Marks & Spencer investors show prowess by abstaining

Other comment:

* The chancellor is facing a £7.5 billion black hole in his budget next year as a result of the economic downturn, according to an analysis of Treasury figures

* Christopher Hohn's charity reinvest sbulk of £800 million back in his own fund

* No background music for EMI

* ABN Amro worries continued to weigh on Royal Bank of Scotland

THE GUARDIAN

* Viewpoint: time for Bradford & Bingley to find a bigger brother -- Housebuilders: land situation critical

DAILY MAIL

* City Focus: the is not just an agm, it's a Marks & Spencer agm

DAILY EXPRESS

* Talk of £10 million fundraising by Independent Resources.