THE DAILY BRIEFING
HYPER TRAINS Sir Richard Branson’s firm Virgin Hyperloop
One has proposed a high-tech train system in India, making the 75-mile journey between Pune and Mumbai airport in just 25 minutes.
Hyperloop trains float inside pressurised tubes using magnetic technology, allowing them to reach speeds of 700mph.
KRAKEN WAKES North Sea oil and gas explorer Enquest says production in 2017 averaged 37,405 barrels per day, boosted by its new Kraken development.
START-UPS BOOST A scheme is being launched to help financial technology start-ups. The Investment
Association programme will support small IT firms that have ideas to improve asset management. CARTEL WAR A crackdown on cartels is being launched by the Competition and Markets Authority after a 30pc rise in tip-offs in 2017.
TOP CITY Edinburgh is the UK’s best city for businesses to invest because of its highly educated workforce and solid economic performance, a study by consultancy Arcadis has found. London came seventh.
FAIR BALANCE Investment funds run by a mix of men and women attract 6pc more sales than those without an even split, a study by software firm Flowspring suggests. FASHION LINE Retailer Debenhams has landed a deal with London Fashion Week designer Richard Quinn to create a womenswear range which will launch in May.
GAME FACE High Street favourite HMV beat online rivals to top spot in the Christmas market-share table with 26.8pc of sales of video games and accessories, according to research by Kantar Worldpanel.
DRIVERLESS CABS The first driverless taxi service has been approved in the US. Waymo, part of Google’s Alphabet empire, won approval from officials in Arizona.
BOSS QUITS The finance boss of LED lighting supplier Luceco, David Main, 53, is stepping down and will be replaced by Matt Webb, finance director of building materials distribution firm Ferguson. BANK WOES Beleaguered lender Deutsche Bank is axing 500 jobs in offices across the world amid worries over its stability, multi-billionpound fines for past misdeeds and difficulty turning a profit due to sluggish growth on the Continent.