Baugur, the Icelandic investment group trying to buy UK supermarket chain Somerfield for just over £1bn (€1.5bn), has joined forces with three rival bidders to form a consortium which is now in talks with the retailer's management.

Apax, a UK buyout firm, Robert Tchenguiz, a property tycoon, and Barclays Capital, the debt-focused investment banking arm of the Barclays Group have joined forces with Bauger.

Rival bidders unite for £1bn Somerfield takeover

Miles Costello

Citigroup

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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US law firm hires private equity specialist from key client

Sales of $10 million-plus paintings have collapsed as high interest rates have flushed speculators out of the market.

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Chinese authorities have placed an exit ban on a China-born executive after she entered the country recently. The bank has suspended travel to China.

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Erica Williams to depart auditing watchdog July 22 at request of SEC chairman.

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The bond manager hasn’t adjusted its portfolio saying it seems unlikely the president will get his way.

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Jittery markets are swelling trading revenue and profit, prompting banks to put more money to work on Wall Street.

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Now that AI is screening résumés, it’s time to rethink that commandment about fitting all your work experience onto a single page.

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Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve’s credibility.

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Temperatures have been rising since the world’s oldest underground transportation system opened in 1863, presenting challenges that air conditioning can’t easily fix.

The London Tube ‘Feels Like Hell.’ Efforts to Cool It Just Make It Hotter.

Aircraft and booze are among imports that would be targeted as EU debates how to respond to President Trump’s latest trade threats.

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached

The four-day minimum requirement will begin in the new fiscal year, and some leaders will have to relocate to Seattle or Toronto within 12 months.

Starbucks Tells White-Collar Workers to Come to the Office More—Or Take a Buyout

JPMorgan, Wells Fargo lead the banks whose quarterly results may offer clues on how consumers and companies fared during a volatile period. The S&P 500 climbed 0.1%, and the Nasdaq rose 0.3% to a record.

Financial Stocks Rise Ahead of Busy Week for Earnings, Inflation Data

The bank put $50 billion toward lending to riskier companies to compete with nonbank giants dominating the market. The Walgreens deal was the payoff.

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It

More men than women are back in their cubicles, but remaining remote comes with risks. “It creates that barrier.”

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Mexico and Europe are grappling with how to respond to a U.S. administration that is using trade policy for a range of political and economic objectives.

Nations Find That Neither Anger Nor Appeasement Deflects Trump’s Tariff Threats

Continuation vehicles were once used by “zombie funds” but now usually contain top-performing companies.

The Private-Equity Maneuver Allowing More Investors to Cash Out

The short-term rental company now enables guests to book services at its properties. But hosts worry about liability—and not getting a cut.

Airbnb Lets You Add a Private Chef to Your Rental. Your Host Might Not Like It.

The 59-year-old hedge fund titan made his pro-tennis debut in a competitive ATP doubles tournament alongside a Grand Slam champion, and it ended in a straight-set defeat.

Bill Ackman’s Pro-Tennis Debut Lasted 67 Minutes

The president again pushed the Fed to lower rates, helping power the S&P 500 and the Nasdaq composite to fresh record closing highs.

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A new group plans to raise at least $20 million to stop the democratic socialist in the city’s mayoral race.

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Recent graduates who haven’t started their gigs at big banks are being recruited for jobs that don’t start for another couple of years.

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