THE DAILY BRIEFING

TRIAL BARRED Former financial ombudsman Walter Merricks’s £14bn proposed class action lawsuit against Mastercard won’t go ahead. The Competition Appeal Tribunal ruled it cannot go to trial through a so- called collective action. The claim relating to the card giant’s interchange fees was lodged by Merrick on behalf of around 46m consumers.

TRADING SHOCK electricals retailer AO World has again warned it faces ‘ challenging’ trading, despite reporting a rise in first quarter sales of 2.5pc – even though it faced tough comparatives in the same period last year when housing sales were boosted ahead of stamp duty changes.

BATTERY SALE Private equity fund Foresight has bought a 10mw battery storage facility in Nevendon, essex, from Gridserve and Aura Power. AIRBUS LEASE Russian airline S7 Airlines has accepted its first Airbus A320neo. The plane is on lease to S7 from BOC Aviation, the Asian aircraft leasing company.

FINE BATTLE Oil and gas giant Exxon is suing the US government over a £1.5m fine for disregarding sanctions in its three-year joint venture with Russia’s Rosneft. exxon wants the decision overturned. AIRLINE DEALS Global business aviation services company Gama Aviation has won maintenance agreements with two european fleet operators.

BEAN GONE Renewable fuels company Velocys’s finance chief Susan Robertson is stepping down to pursue other interests. her successor as bean counter will be based in houston, Texas.

GROWTH UP home emergency repairs company HomeServe said trading from April to July 20 was in line with expectations.

STEM PLAN healthcare services firm WideCells has launched CellPlan, a £170-a-year insurance that covers stem-cell treatment for British families who have stored stem cells from umbilical cord blood.