THE DAILY BRIEFING

PHONE PROBE Italian authorities have launched investigations into Apple and Samsung over claims they deliberately slowed their devices down.

Officials say the firms may not have given customers enough information about how phones were affected by software updates.

INTERNET DEAL A deal has been struck between Google and Chinese tech giant Tencent to share patents. The companies will also team up to create technologies.

SALES BLOW Data from the Office for National Statistics revealed consumers cut back on spending in December after splashing out on Black Friday promotions in November. Retail sales in the last three months of 2017 grew by just 1.4pc year-on-year, compared to 3pc forecast by analysts.

HEAVY SLUMP Oilfield services provider Schlumberger posted a £1.6bn loss for the fourth quarter ending December 31, compared to a £147m loss one year earlier, taking into account £1.94bn for restructuring and other costs.

BEAN COUNTER Property developer British Land Company named Simon Carter, 42, finance chief at warehouse firm Logicor, as its finance chief to succeed Lucinda Bell, 53, who leaves on April 4.

DOLLAR SALE British insurer Aviva has completed the $1 sale of its 49pc stake in a Taiwan joint venture to its partner First Financial Holding, as it withdraws from less profitable markets.

HIGH FLYING Private jet servicing company Gama Aviation said its air and ground divisions are performing well and it is confident in the firm’s potential.

ITALIAN FIN Aim-listed Prospex Oil and Gas said tests have confirmed a significant gas find at a well in Italy’s Po Valley where it has a 17pc interest.