A US bankruptcy judge approved the sale of Lehman Brothers Holdings’ prized investment management unit to a group of managers and employees.

The owner of retail chains Argos and Homebase said today it had spurned expressions of interest in both of its operating divisions.

Relief over the impact of EU sugar reforms and a recovery for property stocks kept the FTSE 100 Index on an even keel today.

British advertising giant WPP today emerged as the winning bidder in the hotly-contested auction of US-based rival Grey Global.

THE clock is ticking for hopeful bidders in Hollinger International’s £550 million-plus sale of the Daily Telegraph as a deadline looms this week.