Apollo

Apollo Global Management has withdrawn its fifth proposal to acquire Aberdeen-based energy services company Wood Group, causing the company's share price to drop to 135p on Monday morning, which equated to a loss of over £500 million in the company's stock market value.

Four projects led by Apollo, Blackfish Engineering Design, Nova Innovation and Quoceant will share just under £1.4 million of funding from Wave Energy Scotland (WES) for initiatives that aim to bring down the cost of wave power.