September 18, 2020-Biz in 60

UK retail sales rise for fourth straight month in August UK retail sales rose in August for the fourth consecutive month, following the reopening of non-essential businesses. The volume of overall sales rose by 0-point-8 percent from the previous month, boosted by spending on household goods. Sales were also 4-percent higher than in February, which was the last month before the pandemic hit the country. CaixaBank, Bankia to create Spain's biggest lender Spain's CaixaBank and state-owned Bankia have agreed on a merger to create the country's biggest national bank by assets. Under the all-share deal, CaixaBank will acquire the state-controlled lender for 5-point-1 billion dollars. The new entity, which will operate under CaixaBank's name, is aiming to make more than 990-million- dollars in annual savings by 2023. Ericsson agrees to buy Cradlepoint in $1.1B deal Ericsson has agreed to buy the US wireless networking company, Cradlepoint, for 1-point-1 billion dollars. The deal comes as part of the Swedish telecoms gear maker's strategy of expanding its 5G-related products. Ericsson is battling rivals Nokia and Huawei to take the lead in the roll-out of fifth-generation mobile networks.