Tensions in the alliance between Renault and Nissan were on display at the latter’s annual shareholders’ meeting, the first since the arrest on financial-misconduct charges of Carlos Ghosn, who ran the alliance. Nissan’s investors directed most of their ire at Jean-Dominique Senard, Renault’s chairman, who has pushed for a full merger with Nissan and had threatened to scupper changes to its governance (Renault owns 43% of Nissan). At the meeting, Mr Senard admitted that the relationship between the two companies was in a bad state.

BMW said it would have 25 new fully electric or hybrid models on the market by 2023, two years earlier than expected. Europe’s carmakers are accelerating their plans for cleaner vehicles in order to comply with stricter eu rules on car emissions.

Eldorado Resorts agreed to buy Caesars Entertainment in a $17.3bn deal that creates America’s biggest casino company. Caesars, which counts Caesars Palace, Bally’s and the Flamingo, all in Las Vegas, among its assets, is the bigger of the two. It had faced calls from Carl Icahn, an activist investor, to put itself up for sale to cut costs. Eldorado has no properties in Vegas, but it does own the Tropicana in Atlantic City.

The latest blockbuster deal in the drugs industry saw AbbVie stumping up $63bn for Allergan, best known for Botox, a skin-smoothing treatment popular with the more mature clientele. AbbVie is hunting for new sources of sales as the patent protection on Humira, its bestselling inflammatory treatment, will expire in America in 2023. Separately, Bristol-Myers Squibb’s merger with Celgene, valued at $90bn when it was announced in January, was delayed until at least the end of this year as it works to overcome antitrust concerns.

In its first week as a publicly listed company, Slack’s share price slipped below the $38.62 at which it closed on the first day of trading. The office-messaging service opted for a direct listing of its existing stock on the New York Stock Exchange rather than an IPO (through which new shares are issued), because it didn’t need to raise fresh capital, according to Stewart Butterfield, Slack’s chief executive.