THE DAILY BRIEFING

■ RATE WARNING Financial holding company UK Asset

Resolution, the state- owned group responsible for winding down the mortgage books of failed lenders Northern Rock and Bradford & Bingley, has warned up to one in ten of its customers could struggle if interest rates were to rise from 0.25pc to 1.25pc.

■ SLOW BUILD Construction in the UK slowed last month amid concerns about the outcome of the general election and the start of Brexit negotiations. IHS Markit said its index of activity in the sector, where scores above 50 show growth, dipped from 56 in May to 54.8 in June.

■ NEW CHIEF the former boss of US insurer aIG, Peter hancock, is said to have been approached about replacing Stuart Gulliver at HSBC when he retires next year.

■ BANK BAILOUT Brussels bureaucrats yesterday backed a £4.7bn bailout of Italian bank

Monte dei P aschi di Siena as the nation’s slow-motion financial crisis continues.

■ SHOE FITS David Robinson, former boss of swimwear firm Speedo, has been named chief executive of bootmaker Le Chameau.

■ ON TRACK Revenues at housebuilder Cala rose above £700m for the first time last year and the firm is on track to top last year’s £60.1m profit figure. Bosses said the firm is on course to achieve £1bn in revenues by 2020.

■ GOLD TARNISHED traders have soured on gold as confidence returns across the West, according to online marketplace BullionVault. Users cut their total holdings for the third month running, with the number of total buyers down 8.4pc while sellers rose 19.3pc. ■ ADVISER ROLE Online mortgage adviser Mortgage

Gym has signed up Deutsche Bank’s former chief operating officer henry Ritchotte as an investor and adviser.