Business News Headlines

BT lines up O2 and EE in quest for British telecoms supremacy

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LONDON/MADRID - Britain's BT Group has been approached by O2 owner Telefonica and the parents of O2's bigger rival EE to discuss competing multibillion-pound deals to create a powerhouse in fixed-line broadband, mobile and TV.

Deals, Tech 3:11pm GMT

GSK shareholders to vote on Novartis deal on Dec. 18

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LONDON - Britain's GlaxoSmithKline has asked its shareholders to vote at a meeting on Dec. 18 on its proposed major deal with Switzerland's Novartis, which will see the two pharmaceutical group trade more than $20 billion (12.78 billion pounds) of assets.

10:27am GMT

Aviva falls on Friends Life merger plan doubts

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LONDON - Shares in insurer Aviva fell more than five percent on Monday reflecting uncertainty about the potential benefits of the company's 5.6 billion pound (8.79 billion US dollar) plan to merge with rival Friends Life | Video

2:57pm GMT

Stryker weighing bid for Smith & Nephew - Bloomberg

LONDON - U.S. medical device maker Stryker Corp is examining a bid for Britain's Smith & Nephew Plc as a regulatory restriction barring an offer comes to an end, Bloomberg reported on Monday, citing unnamed sources.

3:27pm GMT

FTSE rally pauses near two-month high as Petrofac slump weighs

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LONDON - FTSE edged lower on Monday, weighed down by a slump in Petrofac after it predicted low net profits, but M&A talk kept it near a two-month high.

FXpert, 3:37pm GMT

Bank of England appoints Deloitte to review payments outage

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LONDON - The Bank of England said on Monday it had appointed accountancy firm Deloitte to conduct a review into an outage of its Real Time Gross Settlements system, which disrupted large payments throughout the country's banking system on Oct. 20.

UK 3:30pm GMT

Petrofac slides as oil price, project delays weigh

- Oil and gas services firm Petrofac Ltd's net profit estimate for 2015 fell far short of its goal, wiping out more than 1 billion pounds ($1.56 billion) of its market value.

3:39pm GMT

Britain signs contract for four more F-35 stealth fighter jets

LONDON - Britain has signed a contract to purchase four more of Lockheed Martin's F-35 Lightning II stealth fighter jets, the Ministry of Defence (MoD) said on Monday.

UK, 2:39pm GMT

Citigroup to pay $15 million for analyst supervision lapses - FINRA

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- A unit of Citigroup Inc must pay a $15 million (10 million pound) fine for not adequately supervising communications among its equity research analysts, clients and the firm's sales and trading staff, Wall Street's industry funded regulator said on Monday.

3:34pm GMT

Russia puts losses from sanctions, cheaper oil at up to $140 billion a year

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MOSCOW - Lower oil prices and Western financial sanctions imposed over the Ukraine crisis will cost Russia around $130-140 billion (83-89 billion pounds) a year - equivalent to around 7 percent of its economy - Finance Minister Anton Siluanov said on Monday.

1:50pm GMT