1 Energy bills for 15 million households will rise by at least 12 per cent from October after the regulator increased the price cap because of record high gas costs. Under the biggest energy bill increase in a decade, 11 million households on standard variable or default tariffs will pay an extra £139 a year, taking their annual bill to £1,277, based on average usage. Page 4
2 The takeover battle for Wm Morrison has been extended after Fortress, one of the bidders, sweetened its offer to £6.7 billion in an attempt to thwart Clayton Dubilier & Rice, is rival, days before the deadline for it to make another offer.
3 Carlyle, an American private equity firm, has outbid Philip Morris International, the tobacco group, in a controversial takeover battle for a listed British respiratory drugs company.
4 Unsecured creditors of HMV are set to receive less than a penny in the pound after the failure of the music retailer almost three years ago. HMV collapsed into administration a few days after Christmas in 2018 when the company, which was owned by Hilco Capital, was crippled by a slump in festive trading.
5 A trio of investors in Darktrace — KKR, the American private equity group, Hoxton Ventures and Balderton Capital — have dumped shares worth nearly £150 million, cashing in on the cybersecurity group’s storming run since its flotation in May.
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6 The American workforce expanded more swiftly than expected last month as the recovery of the world’s largest economy gathered pace. Employers in the United States added 943,000 jobs in July, according to official data, patching up the country’s labour market despite an acceleration in Covid-19 cases.
7 House prices rose last month after falling in June as the “race for space” after lockdowns helped to offset a tapering of the stamp duty holiday. However, the annual growth in prices suggests that the market is cooling.
8 Pascal Soriot, the boss of AstraZeneca, has urged Dame Emma Walmsley, the embattled chief executive of its rival GlaxoSmithKline, to stick to her guns in transforming the London-listed drugs group.
9 The delayed turnaround at Capita, the outsourcer, has started with a return to the black and the promise of rising revenues by the end of the year.
10 The flurry of private equity bids for British companies has not hurt the health of the stock market, according to David Schwimmer, chief executive of London Stock Exchange Group.