The move will see Yum sell the chain excluding Chinese operations to private equity firm LongRange Capital for 1.5 billion dollars (£1.1 billion).

The plans are part of long-term ambitions by Aldi to expand to 1,500 sites across the UK.

The Competition and Markets Authority (CMA) said ABF could have pulled out of the UK bakery sector if the merger were not to take place.

The company reported a £108.3 million pre-tax loss for the year to February 28, reducing from £326.4 million a year earlier.

However, the group said global information pressures and volatile conditions have weighed on UK market confidence in recent months.

The UK beauty and pharmacy giant revealed last week that it had held early discussions over a potential takeover deal.

Frasers currently owns a 22.9% stake in Accent but has now sought to take full ownership, amid a recent flurry of dealmaking by the UK firm.

Tesco will provide a trading update on Thursday June 18, alongside the firm’s annual general meeting.

The gambling giant said it will focus on the New York market.

Official figures show that the number of young people neither working nor learning has jumped beyond one million for the first time since 2013.

BP said it will be reorganised into two business divisions – upstream and downstream – from the start of July.

Frasers is offering to pay around 1.98 billion euro (£1.73 billion) to buy remaining shares and take full control of the fashion firm.

It followed reports the Weston family is also holding discussions over a possible £7.5 billion deal.

The FCA alleged on Monday that former fund manager Mr Woodford and his business had been providing unauthorised investment advice.

The high street chain said it has been buoyed by new openings, with the group expanding into more transport hubs and roadside locations.

The Confederation of British Industry warned that around 200,000 more Britons were on track to become unemployed.

It comes after the financial regulator provisionally fined Mr Woodford and banned him as a fund manager last year.

Last week, ministers laid out details for proposals which could ensure guaranteed hours for workers.

The board of Tate & Lyle have backed the move by a US competitor to take it into private hands.

The Cambridge-based firm has seen the value of its stock more than triple since the start of the year.