Hornby, the lossmaking toy manufacturer of Airfix planes and Scalextric cars, says it is “significantly undervalued” by a takeover offer from its majority shareholder Phoenix Asset Management.
'The main cause of the next recession will perhaps resemble more closely that of the latest one - a financial cycle bust,' the BIS said.
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London's top flight index pushed higher on Monday, with UK banks enjoying a strong session after the Italian government committed 17 billion euro (�15 billion) to wind up two failed banks.
The rescue of Banca Popolare di Vicenza and Veneto Banca is against the spirit of EU banking rules. Photograph: Alessandro Bianchi/Reuters.