UK borrowing hits higher than expected £24.3bn in April; retail sales drop as drivers cut back on fuel - business live

Rolling coverage of the latest economic and financial newsUS cosmetics group Estée Lauder and Spanish perfumery Puig have ended merger talks that would have created a $40bn beauty giant.Estée Lauder said on Thursday that “the parties have terminated discussions regarding a potential business combination”.We have one of the most powerful portfolios of prestige beauty brands in the world ... and we believe we are uniquely positioned to drive sustainable long-term growth globally.We are starting to...