Financial Times: Virgin Money has agreed to an all-share takeover offer from rival CYBG in £1.7 billion deal that will create the UK's sixth-largest bank.
The Daily Telegraph: The accounting watchdog, Financial Reporting Council, has released a damning report into Britain's big four accountancy firms, singling out KPMG in particular for the "unacceptable deterioration" in the quality of its audits.
The Times: Rupert Stadler, Audi’s chief executive, has been detained for questioning in connection with the investigation into the carmaker’s diesel emissions cheating.
Financial Times: Walt is Disney is readying an increased offer for 21st Century Fox, adding a cash component to its previously agreed $52.4 billion stock offer for Fox assets.
The Daily Telegraph: The Chinese authorities have orchestrated an arms-length rescue for the giant aviation and investment group HNA, heading off a fresh liquidity crunch for one of the world’s biggest debtors.
Business and economics
Financial Times: A “no deal” Bexit could cost US households £1000 a year, with the impact disproportionately felt by poorer households.
The Daily Telegraph: Ofwat has threatened to take action against Thames Water, Severn Trent, Southern Water and South East Water, saying there is “no excuse” for how they failed to protect their customers from major water shortages in the aftermath of the severe weather earlier this year.
Daily Mail: The packaging maker DS Smith, which supplies Amazon and Next with boxes, made sales of £5.7 billion last year, a 21% increase on the previous year on the back of online shopping boom.
Financial Times: Shares in French cable maker Nexans fell 18% after a profit warning spooked investors already concerned by the departure of its CEO.
The Daily Telegraph: Shares in Hvivo, which is based in London and was spun out of Queen Mary University in 1988, soared by more than 57% on the news of new development of universal flu vaccine.
The Times: Fears of a trade war between the US and Canada, which supplies most of the timbers to the US, has led to falling confidence among US homebuilders, according to research by the National Association of Home Builders found.
The Daily Telegraph: British outsourcer Capita has been awarded a Ministry of Defence contract to run British military’s fire and rescue services.
The Guardian: Shell has hit back at criticism of a tax structure it set up as part of a relocation of its headquarters from London to The Hague following reports that it has cost the Dutch treasury as much as €7 billion (£6.1 billion) in lost income.
The Times: Indivior, which faces competition from generic versions of its key opioid addiction treatment, has received a reprieve as a court in New Jersey had granted it a temporary restraining order compelling Dr Reddy’s Laboratories to cease immediately launching a generic version of Indivior’s blockbuster product Suboxone Film.
Financial Times: Fujifilm is suing Xerox for $1 billion in damages for alleged breach of contract after the US photocopier maker called off proposed merger.
The Guardian: Eurozone finance ministers are braced for a row this week with the Greek government over possible write off some of its debts as the country prepares to exit its third bailout programme.
The Times: The Competition and Markets Authority said yesterday that it was considering whether the £1.5 billion acquisition of Fidessa Group by Ion Trading could be bad for the financial software market, potentially delaying the deal by several months.
Daily Mail: Lufthansa has entered the bidding war with British Airways owner IAG to take control of Norwegian Air.
Daily Mail: Google is investing more than £400 million in Chinese online retailer JD as it steps up the battle in online shopping against Amazon.
The Daily Telegraph: Supermarkets and suppliers have warned the competition watchdog that Sainsbury’s £15 billion tie-up with Asda could reduce choice and bump up prices at the checkouts.
The Times: The competition authority has told Rentokil that its takeover of a rival washroom services company, Canon Hygienes, may lead to higher prices for customers.
Financial Times: Winton, one of the largest quantitative investing firms in the world, is spinning off its big data analytics units Hivemind, which will seek external capital to grow as standalone entity.