The FTSE 100 opened largely unchanged on Monday, with sentiment supported by renewed optimism around U.S.–China trade negotiations. As of 07:10 GMT, the index dipped slightly by 0.02%, while the British pound strengthened 0.01% against the dollar to 1.33. European markets moved higher, with Germany’s DAX up 0.4% and France’s CAC 40 gaining 0.1%.
Greencore–Bakkavor Merger Faces Regulator Scrutiny
The Competition and Markets Authority (CMA) has expressed concerns over the proposed £1.2 billion merger between Greencore (LSE:GNC) and Bakkavor Group PLC (LSE:BAKK). The regulator warned that the deal may reduce competition in the supply of own-label chilled sauces, where both companies currently compete. Both firms are key suppliers in the UK’s ready-made food sector, and the CMA’s review could lead to a deeper investigation if remedies are not proposed.
HSBC Sets Aside $1.1 Billion for Madoff-Linked Lawsuit
HSBC Holdings PLC (LSE:HSBA) has allocated $1.1 billion to address a lawsuit in Luxembourg tied to Bernard Madoff’s Ponzi scheme. The legal action, brought by Herald Fund SPC, seeks restitution of securities and cash linked to the Bernard L. Madoff Investment Securities LLC fraud. The Luxembourg Court of Cassation recently denied HSBC’s appeal on the securities restitution claim but upheld its appeal on the cash claim.
Leave a Reply