Toshiba sets up new panel to expand accounting probe

Toshiba Corp (6502.T) has set up a committee headed by a former prosecutor to broaden a probe of accounting irregularities that overstated operating profits by at least $420 million in recent years.

Severn Trent rejects third takeover proposal from LongRiver consortium

Severn Trent took just a few hours on Friday evening to reject a third, improved takeover proposal from a consortium of determined financial investors seeking to take the FTSE 100 water firm private in a £5.3bn deal.