Potential suitors for the purchase of The Daily and Sunday Telegraph, part of the Telegraph newspaper business, are making their final offers as the deadline approaches. The frontrunners in the auction are the US owner of the New York Sun and Sir Paul Marshall, who recently acquired The Spectator magazine. Marshall is leading a consortium backed by the US billionaire Ken Griffin.
Other known suitors are expected to submit bids before the deadline, including Dovid Efune, the current owner of the digital assets of The New York Sun. Efune has secured backing from various institutions and is seen as a serious contender due to not controlling any UK media assets that could lead to political and regulatory investigations.
In other news, inflation in France and Spain has slowed more than expected, leading to a decrease in annual inflation rates in both countries. This news has caused Eurozone government bond yields to fall, with markets now predicting a greater chance of the European Central Bank cutting interest rates next month.
Despite these economic fluctuations, global markets are expected to end September on a positive note, with Chinese stocks experiencing their best week since 2008 after a stimulus package aimed at reviving the economy. Japanese markets have also reacted positively to the appointment of Shigeru Ishiba as the next prime minister, with the Nikkei index jumping by 2.3%. Overall, September has been a strong month for global equities, with optimism spreading across different markets.
Source
Photo credit www.theguardian.com