THE DAILY BRIEF­ING

Daily Mail - - City & Finance -

VET­ERAN EXIT

A shake-up in Tesco’s over­seas busi­ness will see Trevor Masters, chief ex­ec­u­tive of Tesco In­ter­na­tional, leave af­ter 40 years.

Masters, who started at the gro­cer as a teenage man­age­ment trainee, will be re­placed by Tony Hoggett as chief ex­ec­u­tive of Asia, and Matt Simis­ter, who takes the same role in Cen­tral Europe.

TOP TECH

The UK has jumped up the rank­ings of the most promis­ing mar­kets for tech­nol­ogy break­throughs. De­spite un­cer­tainty over Brexit, the UK rose from sev­enth to fourth, ac­cord­ing to KPMG’s global tech­nol­ogy in­no­va­tion re­port. It is be­hind the US, China and In­dia.

TRAINEES HIRED

Open­reach is hir­ing 1,500 trainees. The busi­ness, which op­er­ates the UK’s broad­band in­fras­truc­ture net­work and is owned by BT, will start by tak­ing on 119 re­cruits in April.

BT has agreed with Of­com to split off Open­reach into a sep­a­rate com­pany fol­low­ing pres­sure from ri­vals.

CYPRUS CON­TRACT

De­fence firm Car­il­lion has won a £90m con­tract to de­sign and build a com­mu­ni­ca­tions cen­tre in Cyprus for the Min­istry of De­fence.

BREXIT BAR­RIER

Tar­iff bar­ri­ers would de­ter small firms from sell­ing their prod­ucts to Europe, a re­port claimed. The Fed­er­a­tion of Small Busi­nesses said 27pc of small firms would be much less likely to trade with the EU should any tar­iff – no mat­ter how low – be in­tro­duced.

SWEDE DEAL

Rolls- Royce is de­vel­op­ing tech­nol­ogy to help ferry crews in Swe­den bet­ter un­der­stand what is go­ing on around them.

The en­gi­neer will de­velop an ‘in­tel­li­gence aware­ness sys­tem’ for Stena line AB us­ing sen­sors and radar to feed in­for­ma­tion to crew.

CUT WARN­INGS

Food work­ers’ union GMB has urged Unilever in­vestors to stop any dras­tic cost­cut­ting at the firm. It fol­lowed spec­u­la­tion Unilever was draw­ing up plans to sell its Flora and Stork spreads busi­ness to fend off an­other takeover ap­proach af­ter Kraft Heinz’s re­cent failed £115bn bid. Unilever de­clined to com­ment.

RULE BREAKS

Brus­sels rules which in­sur­ers claim are sti­fling UK in­vest­ments could be tweaked by the Bank of Eng­land. Many claim the Sol­vency II di­rec­tives on how much cash firms must keep to guard against go­ing bust are ex­pen­sive and over-com­pli­cated. The Bank’s deputy gov­er­nor Sam Woods ad­mit­ted there was room for im­prove­ment.

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