Bid

UK billionaire’s fashion group offers £166m for takeover of 77.1% of shares in shoe firm it does not already ownBusiness live – latest updatesThe retail billionaire Mike Ashley has launched his second takeover bid in a week, attempting to snap up Australian footwear business Accent Group, days after announcing a tilt at Hugo Boss.Ashley’s Frasers Group, which already owns the biggest single stake in Accent at 22.9%, said it will offer 65 Australian cents (34p) a share for the remainder of the business, at the same level as its closing price on Friday. Continue reading...

• France has secured a 75-billion-euro investment in artificial intelligence as part of a strategic push to lead the continent's AI sector. • Germany is leading a six-nation initiative—including France, Italy, Spain, the Netherlands, and Poland—to develop a more competitive European capital market. • The OECD has issued a warning that the ongoing war in the Middle East is negatively impacting economic growth across Europe.

The ex-reality TV star, who lost his home in the Pacific Palisades fire, cast himself as the antidote to the city’s woesSpencer Pratt, an ex-reality TV star, cast himself as the antidote to Los Angeles’s woes as he campaigned to be the city’s next mayor.He curried favor with swaths of disillusioned voters who related to his diatribes against city leadership. His fervent social media posts, including re-shares of AI-generated campaign ads showing LA in an apocalyptic light, garnered national attention. Continue reading...

• The European Commission is preparing to take France and Spain to Europe’s top court for failing to implement required cybersecurity legislation. • Both nations missed an October 2024 deadline to integrate the European Union's cybersecurity rules into their own national lawbooks. • Separately, 17 EU leaders, including representatives from Germany, Belgium, and Italy, held a video conference on Monday to discuss EU competitiveness.

• Asian stock markets declined as the recent artificial intelligence rally reversed, leading to significant losses for South Korea's KOSPI index. • Oil prices surged following a retaliatory attack by Iran on Israel, which was launched in response to a previous strike in Beirut. • The market downturn reflects a shift in investor sentiment as geopolitical tensions in the Middle East outweigh previous AI-driven optimism.

Three GOP senators joined Democrats as dispute over proposed payouts exposed party divisionsUS politics live – latest updatesSenate Republicans on Thursday narrowly scuttled an attempt by Democrats to stop Donald Trump from creating a $1.8bn fund to pay his allies, even as signs emerged that dissent over the proposal was spreading inside the US president’s own party.Democratic Senate minority leader, Chuck Schumer, had proposed inserting language barring the payouts into Republican-backed legislation to fund Trump’s mass deportation campaign through the duration of his term. Continue reading...

• U.S. stock markets ended lower as escalating tensions between the United States and Iran weighed on investor sentiment. • The S&P 500 index saw its nine-day winning streak come to an end due to the geopolitical instability. • The market volatility highlights how uncertainty regarding a potential ceasefire or diplomatic resolution continues to disrupt financial stability.