FTSE higher despite China fall, with BAE up on defence spending hopes

Defence company higher after positive note from JP Morgan BAE boosted by rise in defence spending. Photograph: Bloomberg/Bloomberg via Getty Images Despite a 5% fall in the Chinese stock market on continuing concerns about the world’s second largest economy, European shares are attempting to edge higher. The FTSE 100 is currently up 12.06 points at 5924.30, while Germany’s Dax is ... Read More »

Rockhopper rises 11% after new Falklands oil find

Positive reaction to discovery at Isobel Deep well in North Falklands basin Drilling success in Falklands lifts Rockhopper. Photograph: Gary Clement/REUTERS Falklands oil company Rockhopper Exploration has pleased the market with its latest update. Its shares have soared 11% to 27p after it announced an oil discovery at the Isobel Deep well in the north Falklands. Rockhopper has a 24% ... Read More »

Shire clinches $32bn takeover of Baxalta

London-listed pharmaceuticals firm secures cash and stock deal after appeal to Baxalta shareholders Shire expects to save more than $500m of costs within three years of a Baxalta takeover. Photograph: Alamy Shire, the London-listed drugs company, has agreed to buy Baxaltafor $32bn (£22bn) after receiving assurances that it will not face a big tax bill in the US by including ... Read More »

Detroit confronts self-driving cars: can America’s auto show survive the future?

The North American International Auto Show has reigned for decades as the premiere industry event, but Silicon Valley is threatening the crown A man cleans a car as exhibitors prepare on the eve of the official press preview of 2016 North American International Auto Show in Detroit, Michigan, on January 10 2016. More than 40 new vehicles will vie for ... Read More »

HMRC chief Lin Homer to step down

Head of HM Revenue and Customs quits after fierce criticism from MPs over failure to answer 12m tax phonecalls and furore over lenient settlements HMRC chief Lin Homer will leave her post in April. Photograph: PA The chief executive of HM Revenue and Customs, Lin Homer, is leaving the role after four years in which she faced fierce criticism over ... Read More »

A music company just paid $35m for the Offspring’s catalogue. Why?

The subterranean world of catalogue rights is generating big bucks for traders and bands alike – no wonder a past-their-best punk group are willing to sign away the rights to their music In the money … the Offspring. Photograph: Rex Features When was the last time you thought about the Offspring? Maybe when Pretty Fly (For a White Guy) topped ... Read More »

Clive Selley named new BT Openreach boss

Appointment comes a month before business could be forced to split from telecoms giant over competition concerns Clive Selley is due to take over from Joe Garner in early 2016. Photograph: Liam Bailey/BT BT has appointed a new boss for its Openreach business, a month before it could be forced to give up the broadband network division altogether. Clive Selley, ... Read More »

Taxi app Hailo needs new funding after £22m losses in 2014

Cab hailing company needs a cash injection in the next three months to continue as a going concern, according to auditor’s report on latest accounts A yellow London taxi cab operated by Hailo stands outside store in 2014. Photograph: Bloomberg/Bloomberg via Getty Images Cab-hailing app Hailo only has enough cash to operate as a going concern for another three months, ... Read More »

M&S gets the knives out for ‘simple white bread’

M&S is scrapping simple white bread in favour of a fibre-enriched alternative. The bog-standard white sliced loaf may be in decline, but it still has some surprising fans Is it toast for the modern-day white loaf? Photograph: Alamy Amid other sad news on Monday came the announcement that sliced white is toast. Well, it is at M&S anyway, with the ... Read More »

Michael Gove to meet G4S over abuse claims at young offenders centre

Justice secretary says he will discuss the allegations, which have led to suspension of seven staff at Medway centre in Kent Prisons and Ofsted inspectors have visited the Medway secure training centre in Rochester. Photograph: Gareth Fuller/PA The justice secretary, Michael Gove, is to meet G4S private security chiefs this week over the suspension of seven members of staff following ... Read More »