Environmentalists may want to look away now. Royal Dutch Shell's search for oil in the Arctic has not been short of controversy, coming under attack from, among others, Xena: Warrior Princess actor Lucy Lawless (pictured), who earlier in the year boarded one of the energy giant's ships in protest against the drilling.

And three became two. The battle for Cove Energy took another twist yesterday after one of the three potential bidders threw in the towel. Yet despite the Indian consortium made up of Oil & Natural Gas Corp and Gail India deciding to pull out, that did nothing to quench the punters' thirst for the Mozambique-focused driller.

Today

Wall Street will have to wait – Eros International is not in a New York state of mind quite yet. While the Bollywood film company hasn't given up on its dreams of the Big Apple, the news it is delaying its move across the Atlantic meant the group bombed in the Square Mile yesterday.

It may not be the height of fashion for investors in the Square Mile at the moment, but Burberry is still very much in vogue with shoppers. Shares in the luxury brand were flying off the shelves yesterday on evidence that the popularity of its trench coats and handbags is continuing to grow.

Those praying for the emergence of a rival admirer to fight for Logica's affections are losing heart. Last week's news that the software group had agreed to be snapped up by Canada's CGI prompted hopes of a bidding war, but investors are getting increasingly resigned to the prospect of it being a one-horse race.

After the Diamond Jubilee festivities, things will be rather quiet in the Square Mile for the rest of this severely curtailed week. An opportunity, perhaps, to take a look at the fortunes of newcomers to the market this year – and those who have failed to make it.

Bye bye Man Group. The Footsie was saying its farewells to the hedge fund giant yesterday following the news that its time as a blue-chip index stock is about to come an end. Man may have been one of the few risers on a torrid day for the markets, but it was all too little, too late.

The Square Mile was clearly in a greedy mood yesterday. Those hungry for takeover activity may have had a £1.7bn deal to savour, but there was still appetite for more. As a result, following the news that Logica's days of independence were numbered, the search was on to find out who was next in line.