Groupon offers buyback deal

GROUPON, which specialises in a time-limited discounts on local services, last night announced that it would commence a $300m (£193m) share buyback programme as it struggles to reposition itself in the marketplace.

It also appointed interim chief executive Eric Lefkofsky on a permanent basis after some success in refocusing its efforts on mobile sales. The firm’s shares jumped 17 per cent to $10.20 in after-hours trading.