DAILY LETTERS: Norwegian oil group DNO raises the ante to launch a hostile takeover of Faroe Petroleum
City & Finance Reporter for the Daily Mail
DNO has set a three-week deadline for its £ 608m offer for Faroe Petroleum
OIL DEADLINE The Norwegian oil group DNO has increased the ante in its attempt to launch a hostile takeover of Faroe Petroleum by setting a three-week deadline for its £ 608 million offer.
DNO trampled the British company by publishing an offer message and telling shareholders that they will be able to respond to their approach by 1 pm on 2 January.
HOUSE DEBATE The poor state of new homes in Britain must be discussed today by MEPs.
They will demand better standards from builders after a survey that found that 99 percent of new homeowners report problems with property.
REVENUE Franco Manca and the real Greek owner Fulham Shore posted a sales increase of 20 percent in the six months to September.
The profit rose to £ 900,000 from £ 600,000 a year earlier.
UBER CHOICE US investment bank Morgan Stanley has been chosen to run Uber's float, according to reports. The taxi app company is supposed to be worth around £ 96 billion.
PENSION RULES New rules for companies advising companies' pension schemes have been introduced to help retirees save money.
The reforms of the competition and market authorities should make it easier for curators to decide who offers the best value for money.
IN THE CHAIR Website of independent retailers Trouva appointed former Uber and Betfair manager Niall Wass as chairman.
BANK LICENSE Online money transfer company Revolut has been granted a European banking license to prevent disruption if the Brexit takes place without a deal.
BUYBACK VOW Bosses at Credit Suisse have promised to repurchase £ 2.4 billion of shares to raise the share price. The dividend will also increase by 5 percent per 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 that support ambitious small businesses, according to new rules to enable retail investors to pump their money into patient capital funds, where rewards are huge when a start-up succeeds, but the risks of failure are high to be.
CAR SWOOP London-based pub group The Barkby, owner of four gastropubs, has decided to establish a second-hand car dealer by buying Centurian Automotive.