Overseas buyers are accelerating UK takeovers, up 74% this year to about $142bn, as assets are viewed as undervalued. Private equity is particularly active while domestic dealmaking has slumped. Advisers expect more bids next year, potentially targeting larger companies.

EU leaders approved a €90bn multi‑year loan for a neighbouring state, funded via the bloc’s budget after a bid to use frozen assets fell through. Disbursements will be phased and tied to reforms, with audit safeguards. The move aims to stabilise the country’s finances.

BoE cut Bank Rate 0.25pp to 3.75% as inflation cools. Bailey struck a cautious tone on further easing amid signs of a slowing economy. Reeves welcomed the decision, saying it should help households and businesses, while investors see scope for more, gradual reductions.

Warner Bros Discovery’s board rejected a $108bn approach from Paramount, calling it “illusory” and urging investors to spurn it. The directors said the bid lacked funding and regulatory certainty and was inferior to an $85bn transaction they are pursuing with Netflix.