Business News Headlines

FTSE climbs to record high in face of election uncertainty

Photo

LONDON - The FTSE rose to a record high on Monday, led by HSBC, despite increasingly volatile moves ahead of next week's election, with opposition Labour policies announced at the weekend hitting housebuilders.

FXpert 5:02pm BST

Government warns off BP suitors now Shell unavailable as 'white knight'

Photo

LONDON - Britain's warning to potential suitors of BP is a sign of the oil major's vulnerability to a takeover bid and that a more politically palatable tie-up with Royal Dutch Shell no longer seems to be an option, banking and industry sources said.

4:58pm BST

Centrica prepared for takeover approach - chairman

Photo

LONDON - Britain's largest energy supplier Centrica has made preparations in case it is approached with a takeover offer, the utility's chairman said at the company's annual shareholders' meeting in London.

UK 6:00pm BST

Mylan says Teva offer too low and stock 'unacceptable'

Photo

- Mylan NV rejected Teva Pharmaceutical Industries Ltd's unsolicited $40 billion (£26.2 billion) takeover offer on Monday, saying it was too low and calling Teva stock an "unacceptable" currency.

5:09pm BST

UK's biggest banks face further 19 billion pounds misconduct bill - S&P

Photo

LONDON - Britain's biggest banks face another 19 billion pounds of charges relating to past misconduct over the next two years, ratings agency Standard & Poor's (S&P) said in a report on Monday.

11:00am BST

Greece moves to sideline Varoufakis after reform talks fiasco

Photo

ATHENS - Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move widely seen as an effort to relegate embattled Finance Minister Yanis Varoufakis to a less active role in negotiations.

World, IMF 4:30pm BST

Tesco's Dunnhumby ends exclusive JV in U.S. ahead of possible sale

LONDON - Dunnhumby, the customer data business which has been put up for sale by retailer Tesco , said it was free to work with new clients in the United States, in a move which could make it more attractive to potential buyers.

5:35pm BST

Investors question Deutsche Bank's overhaul

Photo

FRANKFURT - Deutsche Bank's biggest strategic overhaul under co-chief executives Anshu Jain and Juergen Fitschen got a thumbs down from investors on Monday who judged it too little too late. | Video

5:38pm BST

VW investors hope Piech exit may usher in change

Photo

BERLIN - Investors hope that Volkswagen will be able to revive profitability at its core division, cure underperformance overseas and bury lingering plans for acquisitions after the resignation of Chairman Ferdinand Piech.

2:27pm BST

Ireland's permanent tsb prices flotation at top of range - source

DUBLIN - Permanent tsb (PTSB) has raised 400 million euros (£286.3 million) in a share offer priced at 4.50 euros per share, a source familiar with the transaction said, valuing the first Irish lender to launch a public share sale since the financial crisis at 2 billion euros.

5:36pm BST