Sky News has learnt that the company, which is already one of the UK's most valuable technology start-ups, is close to appointing bankers to work on the listing.

Amazon founder Jeff Bezos stumbled in his sprint to become the planet's wealthiest man when his company's share price fell more than 3% on Friday, wiping $2.6bn (£2bn) off his net worth.

Earlier on election day, sterling had hit a two-week high of $1.2978 after polls predicted a comfortable victory for the Prime Minister's party.

Sky News has learnt that a number of private equity groups which held initial talks with Shop Direct's advisers decided not to bid ahead of a deadline for initial offers this week.

Steve Rowe was appointed chief executive at the start of last year and has overseen a significant and expensive restructuring programme.

The firm behind Johnstone's Paints had made three pitches in pursuit of its rival but they were all rejected by the group's board on value grounds.

Sky News has learnt that Film Finances Inc, which is headquartered in Los Angeles, has begun talks with top City investors about a flotation expected to take place during the summer.

The Wine and Spirit Trade Association says the average price of a bottle of wine has risen more in the 12 weeks to 25 March than in the last two years, hitting £5.56, its highest ever price.

Workers are being balloted by the Unite union, which has branded the bank "arrogant" and "out of touch" for a below-inflation pay offer for a second consecutive year.

The annual rate of growth has also slowed to 2.1%, the weakest in almost four years, according to figures released by Britain's biggest building society Nationwide.