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Markets recover as China calls for calm over trade war – business live

All the day’s economic and financial news, as investors worry that Donald Trump could trigger a full-blown trade war with China

Newsflash: The takeover battle over Rupert Murdoch’s 21st Century Fox group has taken another twist.

Disney has raised its offer for most of 21CF to $38bn per share, up from a previous offer of $28 per share.

21st Century Fox accepted a sweetened, $38-a-share bid from Walt Disney Co. for its entertainment assets, dealing a blow to Comcast’s efforts to acquire the business https://t.co/OvWVzbP7sV pic.twitter.com/cyWEyuv6S5

Over in Dublin, one of Ireland’s fallen bank bosses is being sentenced over his role in the financial crisis.

Defence outlines all the people who knew about the transaction to some extent either in Anglo or the Central Bank other than Dd.

Now cv. Father died 64. Truck driver. Mother hairdresser recently retired. Left school 16. Then c.v. Says Dd complied with bail conditions and his case marked by media interest. Concludes "thanks very much."

Prosecution now discussing potential length of sentencing. 10 years max on one charge - other indefinite.

Debating 5 or 10 year maximum sentence and other legal matters. Referring back to previous trial of other 3 bankers and what was said or wasn't said.

Dd says "huge error of judgement" to authorise but did not see as crime. Says FR gave "tacit" if not specific approval. Says transaction grew as economic climate got worse.

Transaction has to be seen in context bank was facing "annihilation." Only happened after transactions passed "under the eyes" of professionals and civil servants. Nobody "raised a red flag" around publication of accounts

Arguing both charges based on same events and should be treated as same. Says nobody made "personal gain" was done to save the bank - and was "futile" as bank failed because of "overexposure to development loans."

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