Iceland’s biggest retailer Baugur plans to delist from the Reykjavik stock exchange.
Baugur, which owns 22.1% of the Big Food Group and 3% of Somerfield, said some of its owners have set up a holding company, Mundur, which owns 61% of the group and is making a redemption offer for the outstanding stock.

The Royal Mail has threatened to take postal regulator Postcomm to court over proposals that it claimed could undermine the long-standing one-price-goes-anywhere service.
General secretary of the National federation of Subpostmasters Colin Baker told the Financial Times that the switch from benefit and pension books to direct payment was creating “confusion and shambles and even if nobody is prepared to do something about it we will”.

Shareholders of GlaxoSmithKline have voted down a costly executive pay scheme that included a "golden parachute" worth up to £22m for chief executive Jean-Pierre Garnier.
Shareholders of the drug maker narrowly rejected the remuneration report by 50.72% to 49.28%.