Lloyds Share News (LLOY)

21st Century Fox, the entertainment conglomerate run by Rupert Murdoch, may have to raise its audacious $80 billion bid for Time Warner to secure the biggest media takeover since the dot-com boom. 21st Century Fox offered $86 per share in cash and shares for its rival but the approach was rejected by Time Warner's board as "not in their best interests", it emerged yesterday. Sources close to the deal said last night that, while Mr Murdoch was not prepared to secure a deal "at all costs", Time Warner was firmly in his sights.. - The TimesFresh calls for a US crackdown on so-called tax inversion have hit shares in British pharmaceutical firm Shire, which is trying to hammer out a £31bn deal with US suitor AbbVie. The news comes at a time of intense negotiations ahead of Friday's formal 5pm bid deadline and both sides are likely to seek protective clauses in the agreement in case the deal later falls apart over this issue. - The GuardianThe Scottish economy grew faster than the UK as a whole in the first three months of 2014, recovering all the growth lost during the recession. The country grew 1pc in the first quarter as activity in its manufacturing sector surged, data from the Scottish government revealed. This compares with a 0.8pc rise in GDP for the entire UK, which was still 0.6pc smaller during the period than in 2008, before the downturn. - The TelegraphBMW is expanding a recall of its most popular models to fix an airbag problem that is hitting much of the global auto industry. The German carmaker says it will recall 1.6m 3 Series cars from model years 2000 to 2006 across the world, including 574,000 in the US. - The GuardianThe new competition watchdog will release the outcome of an initial study into the banking sector on Friday, prompting speculation about a full-blown investigation into the industry. The Competition and Markets Authority has been conducting two studies in banking in recent months during a heightened political focus on the 80% market share of the big four - Lloyds Banking Group, Royal Bank of Scotland, Barclays and HSBC. Since April the CMA, which was created in April, has been scrutinising competition for personal current accounts and the market for small business banking. - The GuardianFirstGroup chairman John McFarlane yesterday pledged to "fully reconsider" its boardroom pay policies following a shareholder revolt over chief executive Tim O'Toole's package of almost £2 million. McFarlane told those attending the annual general meeting in Aberdeen that a reconstituted remuneration committee chaired by Imelda Walsh will take a "deep" look at the issue. - The ScotsmanHomeowners are turning to jumbo personal loans to fund loft conversions and home improvements because they don't want to face tough new mortgage rules. Brokers and lenders have reported a surge in the number of borrowers taking personal loans of £20,000 and more to pay for home improvements. - The Daily MailApple has agreed to pay more than $400 million to resolve claims that the iPad-maker conspired with publishers to fix ebook prices, according to court records filed in New York yesterday. In a statement, Apple denied that it had conspired to fix ebook prices and said it would continue to pursue its case on appeal. - The TimesBC