THE DAILY BRIEFING

HIGH TARIFFS

The US Commerce Department has sided with aerospace giant Boeing and ratcheted up tariffs on jets made by its Canadian rival Bombardier to nearly 300pc. It follows accusations Bombardier received illegal subsidies and dumped planes at ‘absurdly low’ prices.

STRONG GROWTH

Output in manufacturing and services in the UK continued to grow in September. Lloyds Bank said its business activity index, which registers growth as anything above 50, was 54.1 on average. This was up from 54 in August.

CALLED OFF

A sale of fashion chains Oasis, Warehouse and Coast has been cancelled. It previously emerged the only offer made to owner Kaupthing, an Icelandic bank, had come from Emerisque Brands, whose chief executive is a fugitive.

BAR BRAWL

A bidding war for Revolution Bars is back on after the firm’s biggest shareholder, Artemis Investment Management, withdrew its nonbinding letter of support for a proposed £100m takeover made by Stonegate Pubs.

WHEELER DEALER

Metals tycoon Sanjeev Gupta, 45, has vowed to revive British bicycle manufacturing after acquiring Scottish- based firm Shand Cycles UK. Gupta now plans to expand manufacturing capacity at Livingston, West Lothian.

BANK BACKING

The Bank of England has been asked by HSBC to give John Flint the nod to be its new chief executive. Flint, 49, long considered the frontrunner to replace Stuart Gulliver, has been formally approved by HSBC’s board.