UniCredit closes in on Commerzbank takeover

Summary

Italy's second biggest bank, Unicredit, is closing in on a takeover of Germany's second biggest bank Commerzbank after saying it secured 47.6% of the lender's shares on Wednesday. The move is facing widespread opposition in Germany, notably from the federal government, which has a 12% stake in the company. Also, new "freedom fuel" filling stations are appearing across the United States, offering cheaper petrol and receiving strong backing from the White House.