Barclays will table its formal offer for Dutch rival ABN Amro in six weeks as it pushes ahead with plans to take over the bank.
The group outlined its "excellent progress" on the £45bn offer for ABN, which has been backed by the Dutch bank's board. Barclays said it expected to complete all of its major regulatory filings to gain approval for the deal by the end of the month.
TATE & Lyle shares soured yesterday after the company warned a number of factors were likely to impact on profits in the current financial year.
Among concerns, the London-based group said the continuing oversupply of sugar in the EU market would continue to affect its refining business. The planned disposal of its European food and industrial ingredients division will also reduce operating profits, while a new factory in Singapore to meet demand for sweetener Splenda will increase fixed costs.
A new Dawn
BROADCASTER ITV's efforts to revive its flagging fortunes have gained a boost after the firm unveiled former Five and Sky executive Dawn Airey as its new content director.
The appointment comes as ITV's new executive chairman Michael Grade seeks to improve programme quality and lift falling advertising revenues. She returns to the channel after beginning her career with Central TV in 1985 and will be responsible for developing ITV's UK and international content.
Deal in pipeline
OIL and gas firm BG Group said yesterday it remained in talks over a potential deal to supply Palestinian gas to Israel. According to a national newspaper report, BG Group is poised to agree the terms of an historic £2bn, 15-year contract to supply Israel with gas farmed from off the Gaza strip.