Reuters: Mergers News: PRESS DIGEST - Financial Times - March 29

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PRESS DIGEST - Financial Times - March 29 Mar 29th 2012, 01:53 Wed Mar 28, 2012 9:53pm EDT Financial Times NOKIA STEPPING UP SIM BATTLE WITH APPLE The battle between Nokia and Apple over the design of future miniature Sim cards for mobile phones has escalated, with the Finnish group threatening to withhold essential technology for Apple's template, impeding the rival proposal. JP MORGAN ASSURED ABOUT MF GLOBAL FUNDS Demands by JPMorgan Chase to replenish an over-drawn account led MF Global, the failed U.S. broker-dealer, to transfer cash from a customer account to one of its own, according to a senior JPMorgan official. LSE EXPLORES POST-TRADE SERVICE WITH BUCHAREST The London Stock Exchange is exploring ways to help the Bucharest Stock Exchange to build its own clearing operations as Romania gears up for the privatisation of some of its largest state-owned companies. WORLD BANK SUCCESSION TO BE 'HYPOCRISY TEST' Ngozi Okonjo-Iweala, the Nigerian finance minister seeking to become the first non-American to lead the World Bank, has warned rich nations that the selection process will test their "level of hypocrisy". UK'S OSBORNE FACES PARTY FIGHT OVER BUDGET CUTS Plans by the chancellor to take 10 billion pounds ($15.85 billion)-a-year, or almost 1 pound in 20 pound, out of the welfare budget are being openly resisted by the department for work and pensions in the first sign of government infighting over the coming spending round. BALFOUR BEATTY WARNS OF 12,000 JOB LOSSES Balfour Beatty, the UK's biggest construction company, has warned 12,000 staff in the UK they could lose their jobs as a result of the downturn in the building industry. LLOYD'S IN BIGGEST LOSS POST 9/11 LOSS Underwriters at Lloyd's of London are struggling to push through widespread premium increases even after enduring one of its costliest years for natural catastrophes, executives have warned. BERTELSMANN MOVES CLOSER TO STAKE SALE Bertelsmann has taken a step towards selling a strategic stake, or listing its shares on the stock market, moves that would give it access to billions of euros in acquisition finance without loosening the hold of the Mohn family. RACE IS ON TO BECOME TESCO'S NEW IMAGE GURU Investor relations heavyweight Rebecca Shelley is the frontrunner to succeed Lucy Neville-Rolfe as Tesco's corporate affairs director, as Britain's biggest retailer seeks to heal its image problems. MERLIN CONSIDERS LAUNCHING NEW IPO LISTING Merlin Entertainment, the world's second-biggest theme park operator by visitor numbers, is reconsidering a London listing next year after pulling a planned initial public offering in 2010. Link this Share this Digg this Email Reprints

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