THE DAILY BRIEFING
HOSTING DEAL Retailer Game has sold its online game-hosting business Multiplay Digital to Unity Technologies for £19m.
Game bought Multiplay for £20m in 2015, with its results for last year revealing a loss of £800,000 due to investment in technology.
Game will use the money to continue developing its stores and live gaming business. SMOKES BOSS Cigarette maker British American Tobacco has promoted Ricardo Oberlander to chief executive of Reynolds American. BAT paid £37bn in January for the final 58pc of Reynolds it did not already own. TASTE TEST Flavouring maker Treatt made £12.9m profit during the year ending September 30, up from £8.8m the year before, on revenue of £109.6m, a 24.5pc increase. Chief executive Daemmon Reeve said: ‘Treatt has enjoyed a very strong year.’ KEY CLIMATE Utility firm Anglian Water says that a ‘stable and attractive climate’ for investment is key to meeting the Government’s housebuilding targets. Over the latest six months the firm made £210m profit, up 1.6pc, with revenue up 2.2pc to £634.8m. GOLDEN MOMENT Minerals company Hummingbird Resources plans to produce a collectible coin to mark the start of gold production at its Yanfolila mine in Mali.
The 1oz Hummingbird will be minted with a picture of gold miner and 14th century Malian ruler Musa I, who is often described as the richest man in history. PROFITS BOOST Carpets manufacturer Victoria has seen an 8pc boost to its profits to £12.9m in the six months to the end of September, which was driven by the acquisition of two underlay businesses. BANK BURDEN French bank Societe Generale is axing 15pc of its branch network as it grapples with technological change sweeping the industry. Three-hundred of its 2,000 outlets will be closed and 900 jobs slashed to get costs under control. EDUCATED BONDS Plans to raise £250m by selling a 100-year bond have been announced by Oxford University, its first venture into the debt markets. CAPITAL SLUMP Office building in London is down 9pc in the past six months, reaching its lowest level since 2014, according to research by consultant Deloitte.