Li-Ka Shing buys EDF's UK Network (£5.8bn)

The consortium included Hongkong Electric Holdings. Li also owns Superdrug in the UK. Meanwhile Carlos Slim has bought a townhouse on Fifth Avenue for $44m.

Tate and Lyle sells Sugar Business

Acquirer is American sugar refining, deal is for £211m cash. TAL were sugar refiners, in 1885 they put golden-syrup - made from the by-products of sugar refining - into green and gold tins, which proves to be a hit.

Tech Companies Target in Digital TV and Digital Radio

Intel's Atom processor is a ground-up re-architecture of Intel's chips, focused on energy efficiency. Intel as well as Google are getting interested in the digital TV market, following the lead of Microsoft, and Intel has finalised deals with France Telecom and Telecom Italia to put the chips in set-top boxes. Otellini told analysts it was the biggest change in TV since colour television.

Reciva, a company based in Cambridge, UK, has developed the Barracuda module, a hardware/software platform for Internet radio that supports the major streaming protocols: RTSP, MMS and HTTP. Stingray is an extension that supports FM and DAB radio too.

CDS Curve Inversion

Probability of short-term default higher believed higher as CDS curves for Greece, Spain, Portugal have inverted as has BP CDS. Exposure to Greece for French banks is highest with Credit Agricole, through its ownership of Emporiki, and SocGen, which owns Geniki Bank. The Guardian quotes James Rickards, former general counsel of LTCM, on the morality of CDS - "Why should we have instruments where the hope is for the failure of a sovereign state?".