Green given deadline for M&S bid

Billionaire Philip Green has been given another four weeks to make his £8.4billion bid for Marks & Spencer or walk away.

The City's takeover panel has ruled that Green must "put up or shut up" by midday on 6 August.

If he does not make a formal offer by then, he will be barred from going ahead for at least six months.

Green is still deciding whether to go ahead with a formal bid for the company but says he wants more details on its pension scheme liabilities.

He is also waiting to hear of new chief executive Stuart Rose's plans to revitalise the ailing chain.