THE DAILY BRIEFING
OIL DEADLINE The Norwegian oil group DNO has upped the ante in its bid to launch a hostile takeover of Faroe Petroleum by setting a three-week deadline for its £608m offer.
DNO slammed the British company as it published an offer document, and told shareholders they have until 1pm on January 2 to respond to its approach.
HOMES DEBATE The poor state of new homes across Britain is due to be debated by MPs today.
They will demand better standards from builders after a survey found 99pc of new home owners report problems with properties.
REVENUE UP Franco Manca and The Real Greek owner Fulham Shore clocked up a 20pc rise in revenues in the six months to September. Profits edged up to £900,000 from £600,000 a year earlier.
UBER CHOICE US investment bank Morgan Stanley has been chosen to lead Uber’s float, according to reports. The taxi app firm is thought to be worth around £96bn.
PENSION RULES New rules for the firms who advise companies’ pension schemes have been introduced to help pensioners save money. The Competition and Markets Authority reforms should make it easier for trustees to decide who offers the best value for money.
CHAIRMAN NAMED Independent retailers’ website Trouva has appointed former Uber and Betfair executive Niall Wass as chairman.
BANK LICENCE Online money transfer business Revolut has been granted a European banking licence, to avoid disruption if Brexit happens without a deal.
BUYBACK VOW Bosses at Credit Suisse have pledged to buy back £2.4bn of stock to boost its share price. The dividend will also rise by 5pc a year. But analysts said they had hoped the Swiss bank would do more for its investors.
INVESTMENT BOOST Ordinary savers can invest more easily in funds which back ambitious small firms, under new rules to allow retail investors to pump their cash into patient capital funds, where rewards are huge if a start-up succeeds, but the risks of failure are high.
CAR SWOOP London-listed pub group The Barkby, which owns four gastropubs, has decided to branch out into used car dealership by buying Centurian Automotive.