The 10 biggest business stories on Monday October 5

 American Apparel has filed for US bankruptcy; Shoppers in England face 5p bag charge from today; UK to sell £2bn Lloyds bank shares to public

Zlata Rodionova@zlata07
Monday 05 October 2015 09:14
Lloyds surprised the market by saying that it would beat expectations for profit margins
Lloyds surprised the market by saying that it would beat expectations for profit margins

1.The government has announced plans to sell shares worth £2 billion in Lloyds to private investors at a discount. Members of the public will be offered a 5 per cent discount to the market price and small investors seeking shares worth less than £1,000 will get priority.

2. The World Bank has lowered its growth forecasts for developing economies in East Asia on Monday. The bank has also said it expects any increase in US interest rates to have an orderly impact but warned of a risk that markets could react sharply, causing currencies to depreciate further in the region.

3. Shares in commodities trading and mining giant Glencore show no sign of settling down. Hong Kong-listed shares in Glencore have jumped 44 per cent on Monday, after reports over the weekend that management was open to take over offers.

4. Clothes retailer American Apparel has filed for US bankruptcy protection as it says it has reached deal with 95 per cent of its lenders for restructuring. American Apparel has seen falling sales and recorded a loss of $19.4 million (£12 million) in the second quarter.

5. English shoppers will have to pay a 5p charge for plastic bags from Monday in the hope that this will reduce pollution the 7.6 billion bags handed out every year.

All you need to know about the 5p plastic bag charge

6. Uber and Transport for London will head for court this week, to settle a long running battle over whether the mobile app breaks the law.

7. Ryanair passenger traffic was up 12 per cent to 9.55 million in September. Rolling annual traffic for the month grew 16 per cent to 97.3 million passengers the company has added.

8. Volkswagen's supervisory board will hold an extraordinary meeting on Wednesday at which finance chief Hans Dieter Poetsch is expected to be appointed as new head of the 20-member controlling panel, according to Reuters.

9. Asian stocks are rising, boosted by poor US jobs data. Japan was up 0.7 per cent. South Korea's Kospi rose 0.6 per cent and Australian shares gained 1.9 per cent

10. France is considering raising taxes on diesel over the next five years to end an advantage over gasoline and encourage drivers to choose cleaner cars, Environment Minister Segolene Royal said.

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