THE DAILY BRIEFING
■ TAX CUT
taxes should be slashed to make the uK more competitive after Brexit, accountant UHY Hacker
Young said. Britain’s tax burden is equal to 38pc of its economy, compared to the fast-growing economies of Brazil, russia, India and China which have an average of just 21.8pc.
■ SALES HIKE
Private jet services firm Gama Aviation has posted a 5.8pc boost in revenue to £147m, with profits up 28.3pc to £13.2m
■ NO DRIVERS
Driverless vehicles are being trialled at Gatwick Airport with staff being shuttled between the North and South terminals.
■ STORE TIE-UP
Department store Debenhams has teamed up with Swoon Editions to sell the home furnishings firm’s sofas, lighting and dinnerware in its store in Westfield shopping centre, in west London.
■ STEEL DEAL
Steel tycoon Sanjeev Gupta has bought Florida scrap business Export Metals as his GFG Alliance group expands into the uS metals and industrials sector.
■ MINER WOE
three board members have stepped down from troubled miner Avocet which has been plagued by rows with staff and disruptions at its Burkina Faso mine.
■ TRANSFER FINE
a Singapore watchdog has fined Standard Chartered Bank £2.8m for failings in money laundering controls relating to a £1.1bn transfer from the city state to Guernsey for suspicious clients in Indonesia.
■ HIGH HOPES
Chinese investment firm Hillhouse Capital Management hopes to raise £5.7bn – what is thought to be the largest ever fund aimed at the country and wider region.
■ BIT BITE
the world’s leading nations will discuss a crackdown on bitcoin and other online currencies at the G20 summit in Buenos aires this week.
■ NO BONUS
Bosses at insurer Hiscox will not get a bonus for 2017 after natural disasters all but wiped out its profits.
■ JOB PAYOUT
British firms doled out £3.8bn in redundancy payments during the last financial year as 255,000 staff were laid off, law firm Hugh James found.
■ MOVING ON
Sir Gerry Grimstone, 68, has been appointed chairman of Barclays’ private and investment banking arm. Grimstone currently chairs investment firm Standard Life aberdeen.