THE DAILY BRIEFING

RECORD FLOW Oil explorer Premier Oil said it has hit record production of 82,000 barrels of oil per day, up 34.5pc on the previous period, and is upping its production guidance for the year to an average 80,000 barrels of oil per day.

TRACKER LAUNCH Entrepreneur Christian Smith has launched a firm selling tracking devices for personal items. TrackR has secured £ 39m in funding from several sources, such as the Amazon Alexa Fund. Its devices allow users to find items using Bluetooth technology.

DEBT DEAL Troubled Genel Energy has reached a deal with the Kurdistan regional government to clear outstanding debt and restructure oil payments. Genel will receive a higher share of revenue, 4.5pc, from oil sold from the field.

■ MOVING ON Water supplier Affinity Water’s chairman Dr Philip Nolan and chief executive Simon Cocks are to step down. Nolan will stay as chairman until a successor is found, while Cocks plans to leave by the end of 2018.

■ TEXAS SWOOP Online payments firm Paysafe has completed its £366.8m purchase of Texas-based transaction processing firm Merchants’ Choice Payment Solutions.

■ GUSHER STAKE Resources firm Regency Mines has sold a 1.9pc stake in the majority owner of the ‘Gatwick Gusher’ oil project Horse Hill Developments for £323,000 to UK Oil and Gas Investments.

■ ASSET RISE A computer program used to manage cash for the super-rich now oversees £37.9bn of UK private banking assets. The assets overseen via US firm SEI’s wealth platform system have risen by 20pc in the first half of the year. ■ PROFIT UP Debt collector Cabot Credit Management made a £117.9m first-half profit, up 18pc on last year, ahead of a possible £1bn stock market float. ■ CHINESE STEEL PGM and chrome producer Tharisa Minerals has won a deal to supply 240,000 tons of metallurgical chrome to one of China’s biggest steel firms.

■ STEPPING DOWN Tony Humphreys will step down as non-executive chairman of sports technology firm GoTech Group at the end of the month.