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Full bid spells end of the praline for Thorntons’ horror show: A 66% premium to the three-month average of 87p could be seen as evidence that Ferrero, like the ambassador, is “really spoiling us”. Thorntons is a box of chocolates that has melted in the sun. The group warned on profits before Christmas and in May announced Chief Executive Jonathan Hart would step down. The ending is bittersweet. Investors with 34.36% of the stock, such as ex-Chairman John von Spreckelsen, have sold to the Italian acquirer, or agreed to do so. This could deter higher rival bids. However, Investec has touted Thorntons round the market and evidently none was forthcoming. Thorntons’ market has been gobbled up by supermarkets at the low end of the price range and retailers such as Hotel Chocolat higher up. Most investors will be heartily glad Ferrero is taking this serial disappointment off their hands. On Monday morning you could not even send the board the message “goodbye and good riddance”, spelt out in a box of alphabet truffles using the personalisation feature on Thorntons’ website. The company had run out of stock. It ran out of ideas long ago.

Greene King wins go ahead to swallow Spirit: Greene King’s £774 million takeover of rival Spirit Pub has been cleared by the competition authority, which said it accepted the company’s offer to sell 16 pubs in areas of concern.

Sacked RSA Boss in Ireland awarded €1.25 million by tribunal: The former Chief Executive of RSA Insurance’s troubled Irish business has been awarded €1.25 million (£900,000) by an employment tribunal almost two years after he quit the company

Ramadan brings £100 million surge in grocery sales: Britain’s biggest supermarkets have had an uplift in sales because of the holy month of Ramadan, with the Islamic festival becoming the most important retail event after Christmas and Easter.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.44% or $0.28 lower at $63.06 per barrel, ahead of the American Petroleum Institute weekly oil inventory data, scheduled to be released later today. Yesterday, the contract climbed 0.51% or $0.32, to settle at $63.34 per barrel, reversing its weakness early in the session.

MEDIA-Ladbrokes and Coral in shock talks over merger -RacingPost.com

IAG may have to offer concessions after EU anti-trust regulators expressed concerns over a planned acquisition of 25% of Ireland's Aer Lingus, two people familiar with the matter said.

Caledonia Investments, the listed investment trust, is acquiring discretionary fund manager Seven Investment Management in a deal which values the business at £100m.

Tullow Oil Plc (TLW.L) Announced that it has settled its Capital Gains Tax ('CGT') dispute with the Government of Uganda and the Uganda Revenue Authority ('URA') with regard to its farm-downs to CNOOC and Total in 2012. Following constructive discussions with the Government of Uganda and the URA, Tullow has agreed to pay $250 million in full and final settlement of its CGT liability. This sum comprises $142 million that Tullow paid in 2012 and $108 million to be paid in three equal installments of $36 million. The first of these was paid upon settlement and the remainder will be paid in 2016 and 2017. Tullow disputed the URA's assessment of $473 million of CGT payable following the farm-downs and appealed against the assessment before the Uganda Tax Appeals Tribunal ('TAT') and commenced an International Arbitration in September 2013. In July 2014, the TAT rejected Tullow's appeal and assessed Tullow's CGT liability for the farm-downs at $407 million less $142 million previously paid. In its 2014 accounts, Tullow recorded a contingent liability of $265 million in relation to the dispute. Tullow subsequently appealed the TAT ruling to the Ugandan High Court and continued with its International Arbitration claim. Following this settlement, both these legal proceedings have been withdrawn.

JCB digs up milestone deal from Ashtead: JCB has won one of its biggest single orders ever after securing a deal worth over £50 million from hire firm A-Plant, part of FTSE 100 firm Ashtead Group.

Standard Life: second service: Standard Life, the financial services group that sponsors tennis player Andy Murray, is changing its Chief Executive. Out goes David Nish after six years, in comes Keith Skeoch, head of the company’s investment business. The succession looks as seamless as Standard Life’s transition from traditional life insurer to global asset Manager. But the changeover reveals much about a group whose name no longer reflects its focus. The strategy has paid off. Group assets under management have soared and Standard Life shares have returned more than 190% since Mr Nish took over. It has attracted admirers. Euan Munro, who ran one of Standard Life’s more popular investment products, was poached in 2013 to run Aviva Investors. And Old Mutual hopes its bet on U.K. wealth Manager Quilter Cheviot will help close the 40% valuation gap between itself and Standard Life, whose strongly performing investments business last year accounted for half of group revenue. Mr Skeoch is well suited to run a company that looks more like money Managers BlackRock and Fidelity than a traditional life insurer. Low interest rates — and, in the U.K., pension reforms — are boosting the popularity of investment products. Mr Nish was the man for the knock-up. His successor must continue to outsmart the competition. Your serve, Mr Skeoch.

Energy Transfer in $48 billion Williams offer: Energy Transfer on Sunday made an unsolicited offer to acquire Williams for about $48 billion, in a deal that could spark a wave of consolidation in the oil and gas pipeline sector.

Oil market buzzes in the wake of big options trades: The oil market is buzzing with intrigue over two derivatives deals last week that bore the signature of a large producer guarding against a price collapse

At 0330GMT today, Brent crude oil one month futures contract is trading 0.17% or $0.11 lower at $62.91 per barrel. On Friday, the contract declined 1.93% or $1.24, to settle at $63.02 per barrel, after Saudi Oil Minister Ali Naimi commented on Thursday that it would boost its oil output if demand improved, thereby sparking concerns of a renewed oil supply surplus. Meanwhile, data showed that US rigs actively drilling for oil fell for a 28th consecutive week, declining to 631.

Petrofac wins repeat work worth £250 million across UKCS: OIL services group Petrofac said it had won repeat business across the UK Continental Shelf (UKCS) worth around $400 million (£250 million

Ladbrokes Chief vows to regain top spot: The Scot who took charge of Ladbrokes in April has vowed to take the company back to the top of the UK betting industry.

Shetland contract win boosts oil services giant: Petrofac, the oil services giant which has made hefty losses on a big project in Shetland, has won a lucrative contract to work on production platforms off the islands

M&S slashes its online sales by £151 million: Retailer included £500 million of stock that was taken back to stores: Marks & Spencer has reduced its calculation for online sales over the past four years after taking into account £500 million of goods that had been returned to its shops.

Fyffes hikes profit forecasts as price rises bear fruit: Fyffes, the Irish banana producer, has bumped up its profit forecasts by as much as 20% after pulling off a wave of price increases on its fresh pineapples and bananas.

Growing North Sea glut pushes oil prices lower: One of the largest oil gluts in North Sea history has forced prices lower and led crude traders to look for more customers in Asia.