Image source, PA

The Three mobile network is taking legal action against the European Commission, after it blocked its £10.3bn bid to buy O2. Three-owner Hutchison confirmed has lodged an appeal at the European General Court.

But even if wins the case it is not thought it would revive its attempt to acquire O2, owned by Spain's Telefonica

But Hutchison could apply for compensation.

Image source, Getty Images

Chinese regulators have conditionally approved brewer Anheuser-Busch InBev's giant takeover of SABMiller.

This was one of the last major hurdles for the $103bn deal to go ahead. The commerce ministry "decided to approve" the sale on condition that SABMiller's own stake in China's biggest brewery was sold off. 

A national officer for the Unite union, Kevin Coyne, has described the delay to the Hinkley Point nuclear project as "bizarre" - and urged the government to proceed with the scheme as quickly as possible.

"There are 800 persons working on the site. What happens to them in the interim?" he said.

"There are a lot of contractors that are lined up behind that, that have been waiting for years. There are jobs to be created, and really this is the litmus test - first litmus test - of the government's strategy in terms of industry, regenerating the economy and so on, and it needs projects like this."

Image source, Getty Images

After those weak figures from Exxon, the second-largest US-based oil producer, Chevron, has posted a large second-quarter loss.

The loss is its biggest since 2001, due to the slump in crude prices and refining income. The company lost $1.47bn, compared with a net profit of $571m a year ago. 

And production fell about 3% to 2.53 million barrels of oil equivalent per day.

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In further bad news for the US economy, first quarter GDP growth has been revised down, from 1.1% to 0.8%.

Real gross domestic product increased at an annual rate of 1.2% in the second quarter of 2016  

Mace, a company appointed by EDF to oversee contract management and infrastructure at Hinkley,

One of the company's chief operating officers, Jason Millett had this to say about today's news:

“At a time when investor confidence is already low due to Brexit, constant prevarication by government on major infrastructure like Hinkley Point and Heathrow is pushing the construction sector into a recession of the government’s own making.

“We need to show that the UK is open for business. This decision to delay yet another project of national importance sends completely the wrong signal to investors and the world.”

Image source, Getty Images

Net income at Exxon fell to $1.68bn for the second quarter of 2016, down from $4.26bn in the same period last year. "The results reflect sharply lower commodity prices, weaker refining margins," says the Texas based firm, adding that production volumes were essentially unchanged. 

Exxon Mobil, the largest publicly traded international oil and gas company, has seen its profits slump by a whopping 59% due to the continued drop in the price of oil.

Eleanor Garnier, one of our political correspondents, has the latest on the fallout over Hinkley:

"What I'm hearing is that the new prime minister, Theresa May, won't be pressurised into a decision until she's ready. Put frankly, she's not going to be pushed around. This project would have huge implications for not just energy policy, but national security and foreign relations too, and therefore the government thinks it warrants and deserves this level of scrutiny.

Remember we've got a new government in Number 10. The business department is being completely restructured. David Cameron and George Osborne might have taken a very particular attitude towards the Hinkley project, but Theresa May's government will not be a mirror image of the last government.

And on the timing yesterday. As I understand it the PM's team believe it wasn't for them to say in advance of the EDF board meeting what their thinking was. The company might have wanted the UK government to make its position clear first, but Mrs May was not going to be bounced into that.  

What does this look like to potential foreign investors and the question of whether Britain is still open for business? I'm being told we shouldn't over interpret the review - there's a sense of reassurance, rather than policy being ripped up to start all over again." 

Yet more envy-inducing journalistic activity, this time from our very own transport correspondent, who is driving, I repeat, DRIVING, a new Crossrail train.

The FT quotes a senior official in the Chinese nuclear industry, external, who has expressed surprise at the Hinkley Point decision.

“We are really questioning what’s going on. We were all set to go over when it was suddenly pushed back. It seems the UK government has a lot of doubts, we aren’t sure where all this is coming from.”

The official added: “We believe Hinkley can still be built under budget and on time.”

Press Association's David Hughes tweets:

Image source, Buzzfeed

We're extremely envious of our counterparts at Buzzfeed News, who've only gone and met the Treasury's new mouser, Gladstone, external. 

"Gladstone is a former stray who’s been recruited to catch the mice overrunning the department," Emily Ashton reports.

We have a mice problem too, just saying...