Headline News
Aviva seals £3.75m Direct Line deal, but jobs at risk in cost-cutting drive
Aviva said it had struck a deal to buy troubled insurance rival Direct Line for £3. 75bn after intensive talks over the weekend but warned it would be looking for cost savings via job cuts.
Frasers to make fresh proposal after Boohoo shareholders reject Ashley
Frasers Group responded to the outcome of Boohoo’s Friday shareholder vote on Monday, after it saw the rejection of the proposed board appointments of Frasers’ Mike Ashley and restructuring expert Mike Lennon to the Boohoo board.
Petrofac enters into binding agreement with creditors on restructuring terms
Petrofac said it had entered into a binding agreement with key financial creditors on the terms of a comprehensive restructuring "to significantly strengthen the financial position of the group" and enable it to deliver its strategy.
UK economy stagnates in third quarter
The UK economy stagnated in the third quarter of the year, according to figures released on Monday by the Office for National Statistics.