Bloomberg Telefonica SA and Liberty Global Plc have agreed to create the UK’s largest phone and internet operator, threatening their rivals and marking another industry-defining deal for billionaire John Malone. The deal values the new company at 31 billion pounds ($38 billion), with Telefonica’s O2 being valued at 12.7 billion pounds and Liberty’s Virgin Media valued at around 18.7 billion ...

Bloomberg UK house prices may fall 16% because of the economic upheaval caused by the coronavirus, according to a desktop stress test by the Bank of England (BOE). That decline would be in line with the fall in residential property values during the financial crisis, though the central bank says that banks would not suffer “very material losses in the ...

Bloomberg Industrial production in the euro area’s two largest economies cratered in March, highlighting the crippling impact of just half a month of factory closures to control the spread of the deadly coronavirus. A 9.2% decline in output in Germany and a 16.2% drop in France are the latest signs of the severity of Europe’s slump. The warning from industry ...