Search giant Baidu have offered $1.9bn (£1.25bn) to purchase the entire share capital of a major Chinese app store, 91 Wireless. Should the deal be accepted, this would be the largest acquisition in the history of China's online sector.

Yahoo shares dropped 4% as sales of display ads - 40% of Yahoo's revenue - decreased 11%, while search revenue fell 10% to $425 million (£280m).

As reported by the Financial Times, sporting goods retailer JJB is generating interest from several potential parties for takeover after they were put up for sale last week.