BUSINESS LIVE: Revolution rejects Nightcap offer; Bunzl buys Nisbets; Victorian Plumbing revenues dip

Among the companies with reports and trading updates today are Revolution Bars Group, Victorian Plumbing, Bunzl, AstraZeneca, Intermediate Capital, and Edinburgh Investment Trust.

Flora and Branston maker Princes Group sold to Italians in £700m deal

The British maker of Flora and Branston has been bought by an Italian food giant for £700million.

Liverpool-based Princes Group has been sold by Mitsubishi Corporation to Newlat Food.

Czech Sphinx will cut up to 1,000 Royal Mail jobs, union bosses warn

Union bosses have warned the ‘Czech Sphinx’ could press ahead with plans to cut up to 1,000 posties if he succeeds in his bid to buy Royal Mail.

The Communication Workers Union (CWU) is set to hold talks with the billionaire businessman Daniel Kretinsky in early June if a deal goes ahead.

The FTSE 100 Index opened at 8317.59

The pound at 8am was 1.2772 dollars compared to 1.2771 dollars at the previous close.