Classic bike brand Raleigh was today sold to Dutch rival Accell in a deal valuing the 125-year-old company at £62.2m (€76m).

Classic bike brand Raleigh, which has been designing and making cycles for 125 years, is in talks to be taken over by a Dutch rival, it emerged today.

FBI agents raided three hedge funds in what one of the targets called a wide-ranging probe of insider trading in the financial industry.