THE DAILY BRIEFING

■ SALES SLUMP Department store Debenhams is expected to reveal later this week that profits have halved as a boom in online shopping continues to hurt sales.

Half-year profits are forecast to plunge to £44m with a 2.5pc slump in like-for-like sales.

■ RUSSIAN OUT Lord Mandelson’s advisory firm Global Counsel has deserted Russia’s London-listed energy and aluminium giant EN+ over concerns at US sanctions gripping its owner Oleg Deripaska.

Former energy minister Lord Barker remains EN+ chairman.

■ BANK JOB Activist investor Ed Bramson is tapping some of Barclays’ biggest shareholders for support to overhaul the bank.

According to reports, he has built up a 5.2pc holding worth almost £2bn over recent months, prompting suggestions he could force a sell-off of Barclays’ investment banking division.

■ TAKING OFF The biggest shareholder in Gatwick Airport – Global Infrastructure Partners – is looking to put it up for sale with a price tag of £10bn, according to The Sunday Times.

■ CASHING IN Dividend payouts to shareholders in private companies running public services surged by 67pc in six years, despite many seeing falling profits. According to research by the

TUC following the collapse of contractor Carillion, dividends soared to £642m across seven outsourcing firms in 2016 but profits fell 31pc during the same period.

■ RETAIL RIVALS Shopping centre owner Hammerson and rival Intu are meeting this week for crunch talks over the future of their proposed £3.4bn merger.