Potential suitors are racing to submit second-round offers to purchase the Daily and Sunday Telegraph newspaper from its current owners by the end of Friday. The frontrunners include the US owner of the New York Sun and Sir Paul Marshall, who recently acquired The Spectator. Marshall leads a consortium supported by US billionaire Ken Griffin. The Spectator recently appointed Michael Gove as its new editor, replacing Fraser Nelson.
Other expected bidders include British-born Dovid Efune, who controls the digital assets of the New York Sun, and has garnered support from various institutions. The bidding war highlights the interest in the historic London-based publisher.
In other news, inflation has slowed in France and Spain, leading to speculation that the European Central Bank may cut interest rates. Oil prices have dipped, but there is hope for a slight recovery. Global markets are set to end September on a positive note, with strong gains in Asian and US stocks. Chinese markets are also performing well following stimulus measures.
Beijing’s stimulus has boosted Chinese stocks while Japanese markets await a new leader following a leadership contest within the ruling Liberal Democratic Party. Overall, the global economy is showing signs of slow but steady recovery.
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