Payouts to shareholders by UK companies have soared 18 per cent in the last three months to a record quarterly high of £22.6bn.

The guitar-maker Fender, whose instruments were used by music legends including Jimi Hendrix, is launching its initial public offering in New York to raise as much as $160.5m.

Outlook On the face of it, the London Stock Exchange (LSE) ought to be having a torrid time.

GlaxoSmithKline (GSK) reeled in its long-term drug development partner Human Genome Sciences, with an agreed takeover offer pitched at about $3bn (£1.9bn), though some HGS shareholders immediately said they would challenge the deal.

The crisis enveloping Olympics security provider G4S triggered a fresh slump in its share price today.

Great Britain cruised to a second straight victory over Portugal in as many days as they continued their Olympic preparations in Sheffield yesterday. Following on from Saturday's 83-68 win, GB turned in a more rounded performance with big contributions off the bench as they built a lead early and kept pulling away.

As one of the City's longest-running bid tales finally came true, media stocks were providing some rare winners yesterday in a tough session on the markets. After it was revealed that the advertising agency Aegis, a subject of takeover speculation for years, is finally getting bought out, BSkyB was another company in the sector on the rise amid optimism ahead of the satellite broadcaster's upcoming results.

The economy contracted again in the second quarter of 2012, extending Britain's double-dip recession, the National Institute of Economic and Social Research said yesterday. The NIESR estimates that there was a 0.2 per cent fall in output between April and June. Many City economists are also expecting output to shrink over the period. The Office for National Statistics is due to deliver its first estimate of GDP over the second quarter later this month.

The maker of Robinsons Fruit Shoot today warned the profit impact of recalling packs with a new cap design is set to rise to up to £25 million.

New Aviva chairman John McFarlane yesterday unveiled a radical overhaul of the troubled insurer, criticising the previous management along the way.

Aviva's new chairman, John McFarlane, unveiled a radical overhaul of the troubled insurer yesterday, criticising the previous management along the way.

Addressing a libertarian think tank in Perth last July, the British climate change sceptic Christopher Monckton urged Australians to create a home-grown version of Rupert Murdoch's Fox News. Lord Monckton's visit was part-funded by one of his biggest Australian fans, Gina Rinehart, the multi-billionaire iron ore magnate. A year on, Ms Rinehart – the country's wealthiest individual – is on the verge of becoming its newest media mogul, a prospect sending a chill through newsrooms, boardrooms and the corridors of government.

Royal Dutch Shell is expected to turn up the heat in its battle for Cove Energy, the Mozambique-focused gas explorer that has generated huge interest among the supermajors.