Iconic British ports and ferries company P&O was today said to be looking at a shock return to the London stock market just months after it set sail for Dubai.

A Dubai-owned company said today it plans to sell all its US port operations within four to six months to an unrelated American buyer and laid out new details about how it plans to pursue the sale under pressure from Congress.

GEORGE W Bush has hit one of the bleakest points of his presidency with a poll showing public confidence in him plummeting to a new low.

Free talks between the United States and the United Arab Emirates were postponed today, a day after a Dubai company succumbed to pressure and backed out of a deal to take over operations at six major American ports.

US President George Bush said today he was troubled by the political storm that forced the reversal of a deal allowing a company in Dubai to take over take over operations of six American ports, saying it sent a bad message to US allies in the Middle East.

A Dubai-owned company abruptly abandoned its plan for managing operations at six US ports yesterday, defusing an election-year showdown between President George Bush and the Republican-controlled Congress.

Dubai Ports World today finalised its £4bn purchase of P&O while bowing to US political pressure by agreeing to end its quest to take over operations at US ports.

Republican congressional leaders told US President George Bush today the House and Senate both appear ready to block a Dubai-owned company from taking over operations at several US ports.

A House of Representatives panel dominated by Republicans has voted overwhelmingly to block a Dubai-owned firm from taking control of some US port operations.

The US House of Representatives has voted to make former President Bill Clinton’s boyhood home in Hope, Arkansas, into a national historic site.

The Bush administration will conduct a highly unusual second review of potential security risks in a business deal it previously approved for a United Arab Emirates-based company to take over significant operations at six leading US ports.

US President W Bush was unaware of the pending sale of shipping operations at six major US seaports to a state-owned business in the United Arab Emirates until the deal had already been approved by his administration, the White House said yesterday.

US SENATE Republican Leader Bill Frist yesterday called for the Bush administration to stop a deal permitting a United Arab Emirates company to take over six American seaports, upping the ante on a fight that several congressmen, governors and mayors are waging with the White House.

Ports and ferries group P&O today said it was confident its multi-billion pound takeover by Dubai Ports World would go ahead despite growing opposition in the United States.

Shareholders of P&O today overwhelmingly backed the group’s takeover by Dubai Ports World, creating the world’s third largest ports group.

The battle for control of ports group P&O looked to be over today after the Singapore-based company PSA declined to improve its offer.

P&O investors were today awaiting the next move in a takeover battle that last night saw Dubai Ports World up its offer for the group to £3.9bn (€5.7bn).

The Singapore-based group behind the latest approach for UK firm P&O was today said to be in talks with potential buyers ready to participate in the break up of the ports and ferries giant.

Excitement at the prospect of the first major bid battle of the new year drove the FTSE 100 Index back beyond the 4700 mark today.

Ports and ferries business P&O was at the centre of a takeover battle tonight after receiving an approach from a Singapore-based ports firm.

Losses by a string of miners sent the FTSE 100 Index sharply into reverse today.

The London market dropped below the 5700 barrier today as strong Christmas trading at Marks & Spencer failed to shield the retailer from profit taking.

Ports and ferries group P&O tonight won the race to replace BPB in the ranks of the UK’s top 100 companies after the plasterboard maker stopped trading following a foreign takeover.

Financial stocks were driving gains by the London market today after HBOS became the second bank to raise expectations ahead of their annual results.

Shares in P&O soared another 12% today amid speculation that a fresh bid to rival the €4.88bn offer from Dubai Ports World could be mounted.

Catering giant Compass led the FTSE 100 Index tentatively forward today after the London market shrugged off early losses by banking and oil stocks.

British ports and ferries group P&O bowed to a £3.3bn (€4.8bn) takeover from Dubai today as the iconic shipping brand signalled the end of 168 years of independence.

Ports and ferries business P&O agreed to end 168 years of independence today by backing a £3.3bn (€4.8bn) takeover by Dubai’s DP World.

Ports and ferries company P&O is to be bought by Dubai's DP World after the pair unveiled a takeover agreement worth £3.3bn (€4.8bn) today.

A multi-billion pound bidding war for P&O was on the horizon today following confirmation of a takeover approach for the ports and ferries operator.