Telecoms merger
Alcatel, the French telecoms equipment maker, and its US rival Lucent edged a step closer to sealing their €21.5 billion (£14.6 billion) merger as shareholders of both groups gave their stamp of approval to the tie-up. Investors representing 39.8 per cent of Alcatel’s capital were present at a meeting on the deal.
Energy prices rise
NPower, the energy group, announced its third price rise for domestic customers so far this year. Its six million customers will face a 17.2 per cent increase in their gas bills from October 1, while electricity prices will go up by 9.9 per cent.