Business Secretary Greg Clark is travelling to Paris this evening for urgent talks with Peugeot executives and the French government about the future of thousands of Vauxhall employees in Britain. General Motors - the parent company of the Vauxhall and Opel - is in negotiations about a sale of the marques to PSA Groupe, the French owner of Peugeot. - The Daily Telegraph
888 Holdings is a classic case of 'prey turned predator', The Times´s Tempus said.
The £1.4bn combination of Sainsbury's and Argos owner Home Retail Group was a step closer on Friday, with the Competition and Markets Authority dropping its investigation and allowing the acquisition by the supermarket to proceed.
Poundland: HSBC reiterates hold with a target price of 160p.
Total first quarter sales at Home Retail Group's Argos chain grew by 2.6% to £868m, the company said, adding that net new space contributed 2.5%, mainly as a result of store openings in the previous financial year.
Home Retail reports its first quarter trading update on Thursday which will cover only Argos following the completion of its Homebase disposal.
British retail sales in April fell on a like-for-like basis compared to last year, with non-food sales outweighing positive food sales.
Argos owner Home Retail Group reported a full pre-tax loss of £804m after taking a hit from a £852m impairment charge as a result of its £1.4bn takeover by Sainbury's.
The board of Home Retail has agreed to recommend Sainsbury's takeover offer, with the grocer applying for a court-sanctioned scheme of arrangement to process the acquisition
Sainsbury's has not entirely won over analysts despite being allowed an unchallenged path to the takeover of Argos owner Home Retail on Friday, with several remaining neutral and Goldman Sachs maintaining a 'sell' rating.
Shares in Argos owner Home Retail Group tumbled in afternoon trade after Steinhoff International Holdings abandoned the chase in favour of a bid for Darty, clearing the path for Sainsbury's, which later upped its bid.
The new administrators of Libor are overhauling the way it is calculated, reducing its reliance on banker estimates in an attempt to restore faith in the scandal-hit rate. US markets operator Intercontinental Exchange took over administration of the London Interbank Offered Rate in 2014 after a global investigation found traders were influencing the daily rate calculations to benefit their own books. - Financial Times
As well as the deadline for Sainsbury's to make a further bid to acquire Argos owner Home Retail, Friday also sees housebuilder Berkeley Group's full year interims amid the slowdown in the prime central London property market.
Nomura has cut its price target on Sainsbury's ahead of Friday's bid deadline for Argos owner Home Retail, after an uneventful trading update.
George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunday Times said Osborne is also expected to limit the amount of tax relief that international companies can claim for interest payments on their debts to 30% of underlying UK profits.
Home Retail Group reported an improvement in sales at its Argos stores in the final eight-week trading period for the financial year ended 27 February.
Sainsbury cautioned investors it might not go ahead with a formal bid for Home Retail Group.
Standard Chartered: UBS reiterates neutral with a target price of 510p, JP Morgan stays at overweight, 725p target and Morgan Stanley keeps at underweight with a target price of 370p.
Sainsbury's has been given until 18 March to improve or call off its bid for Argos owner Home Retail Group, after Frankfurt-listed giant Steinhoff International gatecrashed the party.
Mark Zuckerberg has launched a passionate defence of Free Basics, Facebook's limited free mobile internet service that was banned in India this month, as he promised to continue to push the programme in other developing countries. Talking publicly about the setback for the first time, the Facebook chief executive on Monday said that the decision by the Indian telecoms regulator to ban the service was "disappointing for the mission for what we are trying to do, and a major setback in India". - Financial Times