THE DAILY BRIEFING

TAKEOVER PROBE

A watchdog will examine Sainsbury’s £1.4bn takeover of Argos owner Home Retail Group.

The Competition and Markets Authority will determine whether the merger could result in ‘a substantial lessening of competition’ for consumers.

The decision has surprised some analysts who believed that the two businesses were substantially different enough not to warrant a probe.

A final decision should be known by the end of July.

SACKING CALL

Stelios Haji-Ioannou, the founder of EasyJet, has asked for the chairman of African budget airline Fastjet to be sacked.

EasyGroup Holdings, the secondlargest shareholder in Fastjet, has requested a general meeting seeking the removal of Colin Child. Haji-Ioannou has criticised Fastjet (flat at 28.62p) for having a high cost base.

BOSS NETTED

Goals Soccer Centres has appointed Mark Jones as chief executive.

Jones is leaving Rank Group, where he ran Grosvenor Casinos, to become chief executive of the five-a-side football firm on July 1.

His appointment at Goals Soccer Centres comes after Goals reported its first annual loss in 12 years.

DIAMOND CHIEF

Anglo American has named Bruce Cleaver to take over its diamond division De Beers.

Cleaver, 51, will replace Philippe Mellier who has stepped down after five years as chief executive at the firm. Cleaver will take over as chief executive on July 1.

De Beers became synonymous with diamonds in 1947 with its ‘Diamonds are forever’ ad campaign, which is thought to have been the starting point of the precious stones being associated with engagement rings.

WATCHDOG ROLE

The Financial Conduct Authority has appointed Megan Butler as permanent head of supervision.

Butler had been seconded to the FCA from the Bank of England since last year, when she replaced Tracey McDermott temporarily in the role.

McDermott has been working as acting chief executive following the departure of Martin Wheatley.

Butler’s appointment comes as Andrew Bailey moves from the Bank of England to head the City watchdog.