THE DAILY BRIEF­ING

Daily Mail - - City & Finance -

CLEAR­ING CON­TROL The Euro­pean Cen­tral Bank is planning to tighten its grip on London’s huge euro-clear­ing busi­ness af­ter Brexit, fu­elling fears the City could to lose out on the multi-bil­lion-pound mar­ket – cur­rently dom­i­nated by firms such as LCH.

NU­CLEAR LOSSES Ja­panese gi­ant Toshiba, which is be­hind a planned £10bn nu­clear plant in Cum­bria, ex­pects to post a loss of £7bn for the year to the end of March, com­pared to an ear­lier es­ti­mate of £6.7bn.

AM­BER WARN­ING Hur­ri­cane En­ergy’s ‘poor han­dling’ of a re­cent fundrais­ing was blamed for an 18pc slump in the share price of Neil Wood­ford’s ac­tivist fund Crys­tal Am­ber since May. Nearly 30pc of its in­vest­ments are tied up in the oil ex­plorer.

POSTER BOY David Stoller is re­tir­ing in Septem­ber as ex­ec­u­tive chair­man of reach4en­ter­tain­ment, the firm that makes the­atre poster ad­verts seen on the Tube and buses.

STRONG BANKS Wall Street banks have enough cash to cope with a ma­jor re­ces­sion, ac­cord­ing to the US Fed­eral Re­serve af­ter it stress tested 34 firms.

PI­RATE FIGHT Mar­itime prod­ucts firm SRT Marine Sys­tems has won a United Na­tions con­tract to pro­vide tech­nol­ogy to help fight piracy and il­le­gal fish­ing in So­ma­lia.

SHARE DEAL Peter Ge­orge, found­ing chief ex­ec­u­tive of Clin­i­gen, has bagged £3.4m by sell­ing 500,000 shares in the pharma group.

SALES SLUMP Tech gi­ant Black­Berry has re­ported fall­ing sales for the first quar­ter as its at­tempted re­vival fal­ters. The for­mer smart­phone maker posted sales of £184m in the pe­riod, down from £314m in the same quar­ter last year.

ZONE GROWS The eurozone econ­omy looks set for growth of 0.7pc in the sec­ond quar­ter, ac­cord­ing to IHS Markit.

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