Telecoms

• Vodafone plans bid for T-Mobile: Mobile network operator Vodafone is considering launching a daring bid to buy smaller rival T-mobile UK, in plans that could bring it face-to-face with competition regulators. The world’s Largest mobile network by revenue is kicking the tyres at underperforming T-mobile UK, which has an estimated enterprise value of around €4bn (£3.4bn)

Financial

• Bernard Madoff, whi became a symbol of greed in the financial crisis for masterminding Wall Street’s biggest investment fraud , faces the rest of his life in prison in one of the stiffest punishments for white-collar crime when he is sentenced today.

Retail & Manufacturing

• Marks &Spencer is this week preparing to post better-than-expected sales figures for the first quarter , though the results will remain over-shadowed by growibfg unrest among shareholdsers regarding Sir Stuart Rose’s dual leadership role.

• Volkswagen (VW) yesterday denied presenting Porsche with an ultimatum to accept it layout for a merger of the two carmakers, rebuffing the supercar maker;s claims. “ There is no ultimatum”, a VW spokesman said. Porsche had accused VW and its key shareholders Lower Saxony off extortion after reports that VW and the regional state had demanded Porsche accept a tie-up of the two car-makers with VW in charge.

Energy

• The richest man in Asia, Li KaShing, is understood to be one of four bidders for a stake in Centrica’s new wind farm. His HongKong Electric company could provide cash for British Gas’ owner, which is looking for investment to help it snap up bargains in the downturn.

• Executives from top UK companies including Tesco, Rolls Royce and BT have warned the big six energy groups that their draconian contract terms will lead to more job losses unless they are massively overhauled. The Major Energy User’s Council will hold a crisis meeting tomorrow.

Property

• Dubai-based property giant Emaar has outlined plans to merge with three real-estate units controlled by the emirate’s ruler Sheikh Mohammed bin Rashid Al Aktoum. Shares of Emaar Property, the largets listed Arab developer, fell 10 per cent on the statement by chairman Mohammed Alabbar yesterday, amid fears about the value of the asset owned by the three units, part of state-controlled Dubai Holdings. The proposed new entity, a combination of Emaar with Dubai Holdings, units Dubai  Properties, Sama Dubai and Tatweer, would have combined assets near 194bn dirhams (£32bn) Alabbar said.

Media

• Virgin Media, the commercial broadcaster, has signed a deal with Universal Pictures to create a new movies-on-demand services for its 3.6m customers. The service, called PictureBox, will pool a selection of 28 Universal films from Hot Fuzz and The Bourne Ultimatum to The Holiday and Scarface for a fixed price per month. Picture Box is already used by BT Vision.

• O2 Arena’s promoter AEG Live is preparing itself as hundreds of thousands of Michael Jackson fans rush to claim refunds for their unused tour tickets. Jackson had bee set to perform 50 shows at the stadium from 13 July, which seats of 20,000. It’s estimated that the concerts would have raised over $150M (£78M). The singer died on Friday after suffering a suspected heart attack.

• Elizabeth Murdoch, tycoon Rupert Murdoch’s daughter, is on the shortlist to be the next ITV chief executive. Murdoch who founded Shine Entertainment, is in the running despite a family connection to BSkyB, which was founded by her father. Its chairman is Elizabeth Murdoch’s Brother, and it is fighting to keep it stake in ITV.

Transport

·         The board of Coach and train operator National Express, which recently renegotiated restrictions on its £1.2BN debt pile, has rejected an unsolicited takeover bid from larger rival FirstGroup.