JD Sports Fashion has insisted its £90 million takeover of high street rival Footasylum will not be bad for shoppers as it faces a full-scale probe by the competition watchdog.

The Competition and Markets Authority (CMA) said it was set to refer the planned acquisition for an in-depth phase two investigation after JD Sports failed to offer any solutions to ease its concerns by the September 26 deadline.

It comes after the CMA warned last month that the deal could lead to "higher prices, less choice and a worse shopping experience for customers".

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JD Sports said it "strongly disagrees" with the CMA's fears.

Peter Cowgill, executive chairman of JD Sports, said: "This transaction will not result in any price increases or a reduction in product ranges or service quality.

"The focus of all of our group businesses is to ensure we deliver a best in class, multi-channel experience to our consumers by offering a compelling product proposition."

JD Sports added that it will continue to co-operate fully with the CMA.

It first revealed plans for the takeover in March.

JD Sports is the UK's largest sportswear retailer after recently overtaking Sports Direct to become the biggest on the high street.

Sainsbury's has revealed that the boss of its Argos chain is quitting to join advertising giant WPP as its head of finance.

John Rogers is leaving on October 31 after three years in the job and more than 14 years at Sainsbury's.

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He is set to become WPP's chief financial officer, but will not start in the role until early 2020.

Sainsbury's said it is not replacing Mr Rogers at Argos, with main responsibilities instead being split between retail and operations director Simon Roberts and commercial director Paul Mills-Hicks.

Sainsbury's chief executive Mike Coupe said: "John has worked alongside me for over 14 years and has made an outstanding contribution to the business.

"He leaves Sainsbury's with our best wishes for the future."

Mr Rogers said the opportunity at WPP was "too good to miss".

He added: "As a technology-driven business with creativity at its heart, joining WPP was an opportunity impossible to resist and I look forward to playing my part in helping the business deliver its new strategy."

He succeeds WPP's group finance director, Paul Richardson, who is retiring.

Argos was bought by Sainsbury's when the takeover of Home Retail Group completed in September 2016.

Sainsbury's has since been integrating the group, last week announcing that it will shut up to another 70 Argos shops and instead open around 80 within its supermarkets as part of wider group plans.

Annual house price growth nearly "ground to a halt" in September, remaining below 1% for the 10th month in a row, according to an index.

Property values increased by 0.2% annually, taking the average UK house price in September to £215,352, Nationwide Building Society said.

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House prices fell by 0.2% month on month, following a 0% monthly change in August.

Robert Gardner, Nationwide's chief economist, said: "UK annual house price growth almost ground to a halt in September, at just 0.2%.

"This marks the 10th month in a row in which annual price growth has been below 1%.

"Indicators of UK economic activity have been fairly volatile in recent quarters, but the underlying pace of growth appears to have slowed as a result of weaker global growth and an intensification of Brexit uncertainty.

"However, the slowdown has centred on business investment - household spending has been more resilient, supported by steady gains in employment and real earnings."