THE DAILY BRIEFING

PAPER ROUND Packaging and paper group Mondi has snapped up Finnish rival Powerflute in a £323 million swoop. The FTSE 100 firm expects to complete the deal in the first half of next year, if it wins regulatory approval. Shares in Mondi closed down 0.6pc yesterday.

LOSSES DEEPEN Bakery and food ingredients firm Real Good

Food has seen its losses widen after grappling with cash shortages and rising costs. The firm recorded a loss lo before tax of £6.7m for the six months ending in September, compared to a £900,000 loss over the same period last year.

RECORD SALES Online luxury fashion retailer Matches Fashion is expecting to see record-breaking sales this Christmas with customers buying up to 600 items per hour this month, up from 514 a year earlier.

MOVIE HQ TV and film streaming service Netflix has bagged new London headquarters, which are just off Oxford Street. Netflix has reportedly just signed for 12,000 square feet of offices at the Fitzroy Place development.

DRIVING DEAL A Hong Kong firm that monitors driving behaviour has been bought by Zurich Insurance. Bright Box was founded in 2012 and has been snapped up for an undisclosed sum.

MONEY LAUNDERING Wall Street bank JP Morgan has been slammed for money laundering breaches over its work with controversial Malaysian wealth fund 1MDB.

It is claimed that officials from the Asian country illegally siphoned off £3.4bn from the business between 2009 and 2015.

HOUSING WOE High- end London property prices slipped by 0.7pc this year, according to estate agent Knight Frank.

It also found that sellers cut the asking price for 40pc of properties between £1m and £2m.