EU launches in-depth probe into Apple’s takeover of UK’s Shazam
EU authorities have launched an in-depth investigation into Apple’s proposed takeover of UK music recognition app Shazam.
Business
London’s blue-chip index makes gains on the back of weak pound
London’s blue-chip index made gains on Monday as the pound continued to fall on expectations that the Bank of England would delay an interest rate rise.
Hedge fund hikes stake in Carpetright ahead of vote on store closures
Carpetright’s biggest shareholder, Meditor Capital Management, has increased its stake in the business days before creditors vote on a rescue plan for the firm.
Activist investor ups stake in Micro Focus International
Activist investor Elliott Advisors has upped its stake in Micro Focus International, ratcheting up the pressure weeks after the software firm warned on sales and lost its chief executive.
UK financial sector warned EU equivalence decision will be ‘political’
Financial heavyweights from the UK and Switzerland have dismissed equivalence as way for the City to retain EU market access after Brexit, warning it could impact on Britain’s competitiveness and leave the Square Mile open to political machinations from Brussels.
Debenhams builds personal finance offer with Western Union partnership
Debenhams is expanding its foreign exchange services as part of plans to widen its appeal to customers.
Co-op Group’s £137.5m Nisa takeover approved by regulator
The Co-op has received the all-clear from the competition watchdog for its £137.5 million takeover of Nisa.
How cash expert Martin Lewis has risen to become a consumer hero
Martin Lewis has become one of Britain’s most high-profile and trusted consumer champions, having set up the MoneySavingExpert.com website for just £100.
Clarkson sinks as shipping firm warns over profits amid choppy waters
Shares in Clarkson tumbled on Monday as the shipping services giant warned over profits after being blown off course by a “challenging environment”.
Troubled Capita to raise £701m as chief executive dismisses Carillion comparison
Outsourcing giant Capita is to tap investors for £701 million and embark on a new strategy after booking a hefty annual loss.
Weather woes for British economy to be laid bare
The Beast from the East sent a chill over Britain’s economy in the first quarter, official figures are expected to show this week.
London’s euro clearing dominance poses risk, German politician says
Germany has ramped up the rhetoric as the battle to wrench euro clearing from London after Brexit continues, with a top politician dismissing the City’s claim that fragmentation represents a risk to the financial system.
Sky Betting to be snapped up by Canadian firm in £2.5bn deal
UK-based Sky Betting and Gaming is to be sold to a Canadian company for around £2.5 billion, it has been announced.
Home care provider seeks rescue plan after financial pressures
Financial pressures have forced one of the country’s biggest private home care providers to seek a rescue plan.
Oil prices fall as Donald Trump takes aim at oil-exporting cartel
Oil prices were hit on Friday after Donald Trump took aim at a cartel of oil-exporting nations.
HSBC bosses probed over gender diversity and new energy policy
HSBC bosses were pressed by shareholders on Friday over the lender’s new energy policy and worries over gender balance at the UK-headquartered lender.
Takeda increases Shire offer as Allergan ducks out
Japan’s Takeda has upped its bid for Shire and increased the cash element of the offer as it continues its pursuit of the pharmaceutical giant.
950,000 households hit as ScottishPower hikes prices by 5.5%
ScottishPower is increasing energy prices in a move that will affect 950,000 households.
Banks to report first quarter results in busy week for sector
Lloyds Banking Group is on track to post another healthy rise in profits on Wednesday after a solid first quarter.
Bonmarche’s sales chilled by Beast from the East
Value womenswear retailer Bonmarche suffered a drop in sales in the first three months of the year, which analysts pinned on the Beast from the East.
Headache for Nurofen owner Reckitt Benckiser as sales disappoint the City
Durex owner Reckitt Benckiser disappointed City analysts with its sales performance in the first quarter, sending its shares down 6% in morning trading on Friday.
Shire shares dip after Allergan rules out takeover
Shares in Shire slipped on Friday after Botox maker Allergan confirmed it would not make a bid for the Irish pharmaceutical giant.
Royal Mail chief executive to step down after eight years
Royal Mail has confirmed that chief executive Moya Greene will step down after more than eight years at the helm.
Barclays boss facing fine by regulators over whistleblower debacle
Barclays boss Jes Staley is facing a fine after regulators found he had allegedly breached conduct rules by attempting to identify a whistleblower in 2016.
Councils urged to switch after paying £863m a year to Big Six energy firms
More than £863 million of taxpayer’s cash is being handed over by local authorities to the Big Six energy providers or oil giants as councils fail to switch to smaller providers, research has found.
FTSE ends up as Shire shares soar on takeover approaches
Shares in Shire raced to the top of the FTSE 100 on Thursday after the pharmaceutical giant looked set to become the centre of a takeover tussle between Botox maker Allergan and Japan’s Takeda.
Shire rejects £44bn offer from Takeda as Allergan considers bid
Shire looks set to become the centre of a takeover tussle between Botox maker Allergan and Takeda, with the pharmaceutical giant rejecting a £44 billion offer from the Japanese firm.
Shire rejects £44 billion offer from Japan’s Takeda
Pharmaceutical giant Shire has rejected a mammoth £44 billion takeover bid from Japanese rival Takeda, but talks between the pair are ongoing.
House of Fraser’s troubles deepen as advisers called in over restructuring plan
Embattled department store House of Fraser has appointed KPMG to advise on a restructuring plan for the business which could involve store closures and job losses.
Ultra’s shares hit as SFO launches corruption probe
The Serious Fraud Office has launched an investigation into Ultra Electronics over suspected corruption in Algeria.