10:40CME agrees £3.9bn deal for Michael Spencer’s Nex GroupThe world’s largest futures exchange, CME Group, has agreed to buy Michael Spencer’s Nex Group in a £3.9bn deal that will net the former Tory party treasurer £670m. Michael SpencerCME also picked London as its European headquarters, giving a much-needed boost to the UK government during its Brexit negotiations. The move comes after CME’s decision last year to shut its loss-making London bourse and clearing house. It changed its name from Icap at the end of 2016 and is one of the world’s biggest money-broking firms. Last year Nex agreed to pay back donations of £25,000 made to Conservative general election candidates following a shareholder revolt.

Source: The Guardian March 29, 2018 06:59 UTC