The UK has threatened retaliation after France detained a British trawler as a long-running dispute over post-Brexit fishing rights escalated.

Paris said on Wednesday night that it would increase customs and sanitary controls on freight at the border, make stricter checks of trucks coming in and leaving France, and ban trawlers from landing their catch in some French ports. France also repeated a threat to electricity supplies to the UK

France also announced overnight that gendarmes had escorted one British boat to Le Havre because it did not have a licence to fish in French waters. The catch could be

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Deutsche Bank relied on the boom in mergers and acquisitions to offset a drop in trading revenues last quarter, as Germany’s biggest bank reported better than expected profits.

Revenue from advising on deals, as well as helping companies issue new debt and equity, rose 22 per cent from the same period last year. Trading revenues dropped 12 per cent, though that decline was smaller than feared.

Like most of its rivals, Deutsche’s bottom line also benefited from a steep decline in provisions for bad loans related to the pandemic. As a result, net profits at the bank rose 7 per

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Private equity groups Hellman & Friedman and EQT have ended a bidding war for pet food retailer Zooplus with a joint offer that values its equity at €3.7bn, in the latest example of the industry paying a huge premium to buy a listed business.

The pair made a final offer of €480 a share, 85 per cent above a three-month trading benchmark before the bidding war started, Zooplus said on Monday.

Buyout groups are paying the highest premiums in more than two decades, with an average of 45 per cent for European companies in 2021, according to data from Refinitiv,

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China has expanded trials for a property tax, a decision that pitches President Xi Jinping against deeply entrenched vested interests across an economy fuelled for decades by real estate development.

The state council, China’s cabinet, will expand pilot schemes to tax residential and commercial property in cities, according to an announcement by the National People’s Congress — the rubber-stamp legislature — on Saturday. The locations were not disclosed but rural households will be excluded.

The reform threatens to be far thornier to implement and affect a greater number of people than a regulatory assault that has been launched over the

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The setting could be a bar or restaurant, but let’s go with a corporate box in a football stadium. Hedgies brush maki-roll crumbs off their gilets. Others booze. The host, who runs a trading desk at a bank, takes an interest in the match — the weirdo. The room’s net worth hovers around the billion mark when a drawn-looking 28-year-old enters.

A political aide, say, or a half-famous writer, he is the poorest person on the guest list. He is also the most in-demand. Some of the questions he fields are thoughtful. Some are transparent pretexts to meet him. Each

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