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10 things you need to know in markets today

Here's what you need to know.

Liam Fox

Good morning! Here's what you need to know.

1. Bakkavor, one of the biggest suppliers of ready meals to Marks & Spencer and Waitrose, is exploring plans for a stock market float that could value it at up to £1.5 billion, reports the Times.Founded and run by two Icelandic brothers, Bakkavor is working with its long-term adviser Rothschild on a London flotation this year or early in 2018, according to people familiar with the matter.

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4. Liam Fox has conceded Britain is likely to seek a transitional deal until 2022 after leaving the European Union, but said the arrangements should not "drag on" until after the next general election, the Guardian reports. The international trade secretary has previously said interim arrangements for trade, customs and immigrations should last no longer than "a few months" but said Brexiteers in the cabinet were now prepared for a longer transition.

5. At least 15 Conservative MPs have reportedly agreed to sign a letter of no confidence in Theresa May, says the Independent.It comes after the Prime Minister told plotting Tory MPs "it’s me or Jeremy Corbyn" as she insisted a leadership challenge would trigger another general election.

6. Grassroots members of the Conservative Party have called for Prime Minister Theresa May to quit by Christmas, reports the Independent. Dissenters are reportedly eyeing Brexit secretary David Davis as a possible replacement.

8. The top management at fintech firm Paysafe are in line for a £70 million shares-based windfall if the payment processor becomes the latest technology company to be sold to foreign bidders, the Times reports.Paysafe announced it had received a £2.9 billion approach from Blackstone and CVC, the big American private equity groups, on Friday, sending its shares to an all-time high.

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9. Under-pressure mining group Acacia is facing a lawsuit in the UK from relatives of people who died at one of its mine sites, the Telegraph reports. ;The FTSE 250 gold miner could be hit with compensation claims from a group being represented by law firm Deighton Pierce Glynn.

10. The boss of the UK pensions lifeboat is to step down after a near-nine year tenure, reports Sky News. Alan Rubenstein will reportedly quit his role as chief executive of the Pension Protection Fund (PPF) early next year.

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