THE DAILY BRIEFING

RBS WARNING loss- making NatWest owner Royal Bank of Scotland could be hit with a £4bn fine from the department of Justice, rBC Capital analysts have warned.

rBs has already set aside £3bn to pay Us authorities over toxic mortgage debt which was sold before the financial crisis. FUND LAUNCH a private equity firm which backs sandwich shop chain eat is raising up to £400m for a new fund. Lyceum Capital focuses on UK-based services and tech firms which sell their wares to other businesses. COFFEE EXPANSION Canadian coffee chain Tim Hortons is powering ahead with its UK expansion.

The firm is opening new restaurants in Manchester, Cardiff and Belfast over the coming months following the successful launch of its first shop in Glasgow. ROBOT CASH robot mortgage broker Habito has raised £18.5m to grow its business. Backers include atomico, europe’s biggest venture capital fund. HARGREAVES START-UP Billionaire investor Peter hargreaves is pumping £25m into a new wealth management firm.

hargreaves – co-founder of investment behemoth hargreaves lansdown – has become a partner in start-up Blue Whale Capital. INSURANCE SWOOP Commercial insurer Charles Taylor is snapping up an american business Metro risk Management, which is focused on workers’ compensation claims in California, for up to £1.4m. NEW CHAIRMAN The former boss of West Bromwich Building society has been appointed as the chairman of the business lender Hampshire Trust Bank.

robert sharpe will take over from robert east, who has been interim chairman since december. DRUGS BOSS Vas Narasimhan is to succeed Joe Jimenez as the new chief executive at swiss drugs maker Novartis, it was announced yesterday.

The 41-year-old, who is currently the firm’s head of drug development, will take over early next year.