THE DAILY BRIEFING

SOARING PAY The boss of energy giant SSE’s pay rose 72pc to £2.9m in the year to March 31. Alistair Phillips-Davies trousered an £844,000 base salary, bonuses of £1.5m and £502,000 towards his pension.

The company raised energy prices by nearly 7pc in April.

BREXIT DEMAND Fewer HSBC bankers than expected could move out of London if the Government rethinks its approach to Brexit.

It has threatened to shift 1,000 of its 43,000 UK staff to Paris if Britain quits the EU without a City-friendly deal, but chief executive Ian Stuart has signalled that a softer approach from Theresa May could result in a smaller exodus.

STRIKE THREAT Maintenance, security and waiting staff, represented by trade union Unite, protested outside the Bank of England, demanding an improvement on the 1pc rise they have been offered. They are balloting on strike action.

NEW CHAIRMAN Publishing group Bloomsbury has appointed the former editor of the Financial Times, Sir Richard Lambert, as its chairman. He starts on July 18. WALMART SWOOP Retailer Walmart is to acquire online men’s clothing retailer Bonobos for £242m as it attempts to fight back against online titan Amazon.

BANKER ACCUSED A former UBS banker has been accused of passing tips to a trader who made £1.4m of profits from insider deals.

Fabiana Abdel-Malek – a compliance officer meant to stop UBS from breaking the rules – allegedly gave secret information to Walid Choucair on takeover targets including US cosmetics firm Elizabeth Arden.

Neither entered a plea in a magistrates court hearing in London. MARKETING FINE Grocer Morrisons has been fined £10,500 for aggressive marketing after it sent 130,000 emails to customers who had opted out of receiving them.