Yesterday's top market story and this morning's headline news in the FT concerns Railtrack's fall...
Yesterday's top market story and this morning's headline news in the FT concerns Railtrack's fall from grace. The newspaper says Railtrack's financial crisis worsened when the rail infrastructure company's shares plunged 17% to a record low. Ahead of the company's ejection from the FTSE 100 index, its share price fell 73.5p to 364.5p.
The FT also writes the European Union's member states, parliament and Commission on Wednesday morning overcame their differences and agreed a compromise that will allow common rules governing hostile takeover bids throughout the EU.
The hard-fought deal on the takeover code was struck between representatives of EU member states and the European parliament less than 24 hours from a deadline for finishing the work.
House prices rose sharply in May, reports the FT, further reducing the chances of a cut in interest rates by the Bank of England today.
The Telegraph says Japan appeared to be heading closer to recession yesterday after data showed confidence continuing to fall. The government admitted it would have to borrow six trillion yen (£35 billion) from private lenders to make up a shortfall in revenue.
According to the Times, the struggling euro sank to fresh six-month dollar lows on the foreign exchanges yesterday with a slew of downbeat US statistics unable to revive investor enthusiasm for the currency.
‘Important to have an anchor’
Lack of innovation for solutions
Some 2,000 consumers affected
Achievements, charity work and other happy snippets