THE DAILY BRIEFING

FINISHING SPRINT The venture between Dixons Carphone and American retailer Sprint is to end. Instead, it will focus on its customer service platform Honeybee, which will be deployed in Sprint stores.

Andrew Harrison, deputy group chief executive, said: ‘ We have enjoyed working with Sprint to accelerate their store opening programme over the past two years.

‘With the significant shift in the US mobile market, now is the time to transfer these stores to Sprint.’

Shares closed down 1.1pc, or 3.5p, at 313.7p.

HEDGE PRUNING Retailer Sports DirectDirec said it has hedged its sterling and dollar exchange rate at $1.31.$1 31 It followedfollo last year’s embarrassment when the retailer’s profits were hit after it failed to protect itself before the referendum.

BRAKING LOANS The number of car loans plunged by 28pc in April compared with that month in 2016. The Finance And Leasing Association said 61,434 loans were taken out following a rise in car tax in March that led to a surge in demand before the change was brought in.

TECH SHARES Software firm Imaginatik has announced a proposed fundraising of £1.4m by placing 68,731,445 shares. It will use the proceeds to invest in sales, marketing and new technology.

FLYING HIGH Booming demand for flights to the US and Abu Dhabi led to record passenger numbers at Heathrow last month. Heathrow said it handled 6.5m passengers in May, averaging 209,000 a day, despite disruption from the IT failure at British Airways.

Demand for North American flights grew thanks to a new Delta service to Portland, which drove growth by 1.3pc, while an extra Emirates A380 and new BA services to Abu Dhabi, Bahrain and Tehran pushed up growth to the Middle East by 7pc.

PUB PROFIT Pub group Fuller Smith & Turner yesterday reported flat annual profits of £39.9m, up on £39.2m last year. Revenue rose 12pc to £392m, with sales at its managed pubs and hotels up 3.7pc.