Xerox has given HP an ultimatum in its effort to acquire the PC and printer maker, threatening to turn its bid into a hostile one unless the company agrees by next week to pursue a “friendly combination”.
Charles Schwab is nearing an agreement to acquire US online brokerage TD Ameritrade for more than $25bn, according to people briefed on the matter, as a brutal price war forces the industry to consolidate.
UK government borrowing rose to its highest level in five years in October, adding to the pressure on the state’s finances as the main political parties pledge to increase public spending if they win next month’s general election.
William Hill, the UK bookmaker, said revenues from gaming in its retail shops fell by more than a third after it cut 700 shops from its estate following the implementation of a £2 limit on highly addictive gaming machines.
Shares in Centrica climbed 8 per cent after it reassured investors that the rate at which customers were defecting to rival suppliers was declining and was more than offset by growth in other parts of the business.
Sonos, the American smart speaker company that went public in August 2018, said earnings are likely to decline as much as 19 per cent in fiscal 2020 because of new tariffs placed on Chinese-manufactured goods.
The private equity groups Cinven and Astorg, and the sovereign wealth fund Abu Dhabi Investment Authority, will buy the UK scientific measurement and testing company LGC Group in a deal that values it at about £3bn, people familiar with the matter said.
US stocks fell to session lows, putting the S&P 500 on track for its biggest one-day drop in six weeks, and Treasuries surged amid concerns a phase one trade deal between the US and China may not be completed this year.