Financial markets' attention on Tuesday will be trained on a raft of purchasing managers surveys due out covering manufacturing and services sector activity in the euro area, UK and U.S..
Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian
The Financial Mail on Sunday's Midas column tipped shares of Mitie to its readers, highlighting it shift from facilities management to facilities transformation.
French industrial energy giant Schneider Electric on Friday announced that it was in discussions to take over US-listed software firm Bentley Systems in a deal that could be worth nearly $16bn.