CashNews.co
In a series of significant updates reported by the Financial Times, UK car insurer Direct Line has turned down a £3.3 billion acquisition proposal by Aviva. The company deemed the offer as ‘highly opportunistic’ and significantly undervaluing their business.
Meanwhile, Mauritius expresses disquiet over the UK’s intentions to relinquish sovereignty over the Chagos Islands, which serves as a strategic US military base. This move has sparked diplomatic discussions regarding future control of the region.
The UK’s Financial Conduct Authority fined a former Wizz Air executive for undisclosed share trading, and Michael Ellam is under consideration to lead UK’s crucial talks with the EU, aiming to reshape their future relationship.
(With inputs from agencies.)