FTSE LIVE: Esure sold; Royal Mail slapped with £50m fine; Ashley tough on House of Fraser suppliers

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FTSE CLOSE: Unemployment falls to 43-year low of 4%; Ashley’s hardball with House of Fraser suppliers; Esure agrees £1.2billion sale to Bain

The FTSE 100 closed down 30.81 points at 7611.64 and the pound was at $1.27 against the dollar.

The board of UK insurer Esure has agreed to a £1.2billion takeover by private equity outfit Bain Capital, while Royal Mail is facing a £50 million fine for a ‘serious breach’ of competition law.

Some House of Fraser suppliers may be left out of pocket after Mike Ashley’s Sports Direct scooped up the department store out of administration last Friday. 

 

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