THE DAILY BRIEFING

BREXIT BOOST

Britain has clocked up a fifth quarter of growth since the Brexit referendum in June last year. IHS Markit said a pick-up in the services sector last month put the economy on course for growth of 0.3pc in the third quarter of the year.

SHINING OPPORTUNITY

Investment firm Foresight Solar Fund has bought a 48.5pc stake in the Bannerton Solar Farm in Victoria, Australia. It is paying £3.2m for development rights and is investing £23m in construction, among other things.

BOOK CLOSES

Peter Allen, chairman of publishing company

Future, is stepping down, saying it was trading ahead of expectations. Future has bought the Home Interest arm of Centaur Media and rock magazine publisher Team Rock.

MIAMI NICE

International infrastructure group Balfour Beatty has been awarded a £195m contract to build shops and homes in Miami, developing a 8.1-acre site next to the Miami River.

COUNTING COST

Tainted beancounter KPMG has been dropped by the South African division of insurer Munich Re over a political scandal. KPMG has been criticised over its business dealings with the wealthy Gupta family, which has been accused of corruption, and has sacked bosses in South Africa.

INSURER UPDATE

The new chairman of Lloyd’s of London has called for modernisation at the 331year- old insurance market. Bruce Carnegie-Brown, who joined in June, said it was important to cut bills and move into the digital age.

BOSSES HIRED

Broker TP Icap has hired eight senior staff in the division that supports large institutions, including Jonathan Gane, who takes over as managing director of the institutional services division after serving as chief executive at Fort Rock Asset Management.

MARA LESS

The investment firm of disgraced ex-Barclays boss Bob Diamond has lost its co-founder as it tries to recover from a share slump. Ashish Thakkar set up Atlas Mara with Diamond in 2013, but the stock has fallen 78pc.

COOL SALES

Lower temperatures and an advertising push helped turn sales around at Uniqlo. Fast Retailing, which owns the Japanese fashion chain, said group sales rose by 6.9pc last month, store sales were up 5.5pc, and online sales increased 6.3pc.