THE DAILY BRIEFING
■ MARKET BEATER Foreign tech stocks such as Amazon and Alibaba helped Monks Investment Trust deliver market-beating returns in the year to April 30. It backs businesses worldwide and delivered 15.8pc of its value back to savers.
■ LONDON LAUNCH New York hedge fund Hudson Bay Capital is to launch in London to take advantage of a european deal-making boom. It looks after £2bn of investors’ cash, and has hired several investment veterans.
■ HQ SALE The headquarters of German lender Commerzbank is on the market for £425m. The site in Gresham Street near the Bank of england has been put up for sale by owner Samsung Life Insurance.
■ BRITISH RECORD Foreign owners sold British firms worth a record £6.9bn in the first three months of 2018, data from the Office for National Statistics shows.
■ PARTNERS MADE Accountancy firm Deloitte has promoted 54 British staff to the coveted rank of partner, three fewer than a year earlier. Only 20pc of these were women.
■ £66m RAISED Property investor Yew Grove Reit has raised £66m ahead of a float on the AIM junior stock market tomorrow.
■ TECH VALUATION Financial technology firm Adyen has been valued at up to £6.2bn ahead of a float on the stock market.
■ SECURITY FEAR Social media network Facebook faces fresh pressure over data- sharing deals with mobile device makers, after it emerged they include Chinese companies such as huawei, raising security concerns in the US.
■ PASSENGERS UP The number of passengers flying with EasyJet jumped 3.7pc last month to 7.8m, despite 1,000 flights being cancelled in May due to storms and strikes.
■ BORROWING BACKED Model train maker Hornby has secured a deal to borrow up to £18m to get back on track, from PNC Business Credit and Phoenix.
■ DEAL OK Aerospace and defence firm Northrop Grumman has been cleared by US competition authorities to buy rocket motor supplier Orbital in a deal worth £6bn.
■ UBER BIKES An electric cycle rental service is being launched in Berlin by Uber, with plans to launch in other european cities.