Morrisons shares surge 34% after takeover approach; China crackdown hits bitcoin – business live
Rolling coverage of the latest economic and financial news
- Latest: Morrisons shares at highest close since November 2018
- Bitcoin slides as China’s crackdown continues
- Morrisons shares surge after rebuffing offer
- Labour: Private equity takeovers put jobs at risk
- Morrisons’ rejection of £5.5bn offer may spark bidding war for grocer
- Saturday: Morrisons rejects £5.5bn takeover offer from private equity firm
Back on Wall Street, stocks are continuing to rally.
The Dow is now up 553 points, or 1.6%, at 33,843, as investors show renewed confidence in the ‘reflation trade’, and ‘value stocks’, after Friday’s jitters.
#WSJWhatsNow: U.S. stocks rallied Monday, lifting the Dow 500 points pic.twitter.com/AuggquRlIJ
New flexible rail season tickets will disappoint passengers and fail to bring them back to the railway, passenger groups and campaigners have said as the tickets went on sale in England on Monday.
The government scheme is designed to make rail travel cheaper for part-time workers, with more splitting their time between the home and office since the coronavirus pandemic.
“Many passengers are going to be disappointed. There’s a danger that people will change the way they commute and start driving, and we wanted flexible tickets to encourage people back onboard trains. We don’t think these tickets are going to do that or provide the savings that people had hoped for.”
Related: Flexible rail season tickets in England criticised over savings claims
