THE DAILY BRIEFING

ASTHMA APPROVAL Drugmaker AstraZeneca has won US approval for a treatment for severe asthma. Benralizumab will be marketed under the name Fasenra. JAPAN GROWTH The Japanese economy grew at an annual rate of 1.4pc in the third quarter – notching up its longest streak of expansion – 21 months – since 2001.

VAT PLEA Firms with less than £85,000 of sales are not charged VAT but the Federation of Small Businesses has warned they would be hammered if the threshold comes down as Chancellor Philip Hammond attempts to raise extra cash. CARD JOY Greetings card firm Card Factory has cheered a solid third quarter, saying growth has continued, with sales up by 6.7pc in the nine months of its year so far.

VENEZUELA WRITE-OFF Russia has thrown crisis-ridden socialist nation Venezuela a lifeline by saying it can pay back £2.4bn of debt more slowly, amid speculation the Latin American country could collapse. LONDON SOARS High-end property firm Great Portland Estates has hailed ‘robust’ demand in the commercial London market, with a £22.8m profit in the half-year to September 30, up from a £140m loss in the previous 12 months.

AKZO SWOOP Dulux paint maker Akzo Nobel has invested £7.5m in a sulphur derivatives plant in the US. ROLLS DEAL Engineer RollsRoyce has beefed up its partnership with IT services group Tata Consultancy Services to use data to develop products and services.

DRILL PARTNERSHIP Oil services group Ades International has teamed up with Vantage Drilling International to provide deep-water drilling services off Egypt. 3D DEAL Inkjet technology firm Xaar has signed a deal with chemical company BASF to improve the process for 3D printing. PREMIUM HOPE A business premium price hike after this year’s natural disasters will boost Zurich Insurance profits, bosses have said.

TECH CASH Government ministers have set up a Govtech team to oversee a £20m fund, which will hand tech firms working on useful technologies cash for research and developments that could help the public sector.