THE DAILY BRIEFING

PROFITS UP Cruise and insurance firm Saga made a £193.3m profit for the year to January 31, up 9.7pc on the previous year, and chief executive Lance Batchelor said progress had held up well.

STRIKE WARNING The group behind strike-hit Southern Railway has warned of fresh disruption for long- suffering passengers ahead of next week’s planned union action.

Go-Ahead said the train driver overtime ban set to start on June 29 would cause more ‘unnecessary disruption’ for customers.

GROCER BLASTED The handling of Tesco’s decision to axe up to 1,100 jobs in Cardiff has been labelled ‘completely unacceptable’ by House of Commons Leader Andrea Leadsom after hearing claims that some staff found out via social media.

WI-FI DEAL British satellite firm Inmarsat has struck a ten-year deal to provide wifi for 125 planes owned by Latin American airline Avianca.

SALES UP Timber specialist James Latham said sales had climbed 7pc to £198.8m in the year to the end of March while profits jumped to £13.8m, up from £12.9m.

MERGER APPROVED Britain’s competition watchdog has given the green light to the proposed £11bn merger of Standard Life and Aberdeen Asset Management.

SHARES SALE Rob de Groot, executive vice-president at Reckitt Benckiser, has sold £2.6m worth of shares in the consumer giant.

SATELLITE WIN Satellite communications specialist Avanti has won a £1.2m contract to provide broadband to rural businesses in Cornwall and the Isles of Scilly.

REVENUE ROCKETS Video game firm Frontier Developments reported a 75pc jump in revenues and a 500pc jump in profits in its results for the year ended May 31.

CAP BACKED Spread better Saxo Bank has backed a cap on how much cash punters can gamble with and has quit the industry’s trade association as competitors disagree.

BANK SWITCH Japanese bank Nomura is moving 100 of its 3,000 City staff to Frankfurt to serve continental customers after Brexit.

CITI SWOOP Top UBS banker Alison Harding- Jones has been poached by US rival Citigroup to run its European mergers and acquisitions business.