THE DAILY BRIEFING
■ LAST STORES Collapsed consumer electronics firm Maplin has closed the last of its 217 High Street stores after it fell into administration in February, leading to the loss of 2,300 jobs. ■ BANK EXIT
Banks have scaled back plans to relocate staff abroad after Brexit, said accountant Ernst & Young. A study found that, at worst, 10,000 staff could leave the City.
■ VAT FEARS Rules to force firms to file their VAT returns online should be delayed until April 2020, the British Chambers of Commerce has said. A survey showed 66pc of companies do not know the full details of HMRC’s Making Tax Digital initiative, which is due to come into force in ten months.
■ EXPERT ROLE Cathleen Raffaeli, 60, managing partner of US investment firm Hamilton White Group, will join the board of savings firm
Standard Life Aberdeen in August. ■ FASHION BOSS Littlewoods and Very owner Shop Direct has hired Emma Alexander, the former chief product officer of fashion brand Jack Wills, as fashion director.
■ BETTER OFFER Pension savers must be given the chance to put their money into a wider range of assets, according to trade body, the Investment Association.
■ PHONE ACCOUNT Internet lender Starling Bank has launched the country’s first joint account which can be opened on a mobile phone.
■ TECH SALES Some of the most popular You Tube users will get help from the video website to sell merchandise such as T-shirts.
■ SOFTWARE TIE- UP Chinese technology company Tencent has stepped up its involvement in opensource software organisation Linux, becoming a main backer.
■ AFRICAN ASSETS Oil and gas company Soco International has sold its assets in Congo to Coastal Energy Congo for around £7.5m.
■ WIND SUPPORT An unnamed international energy firm has hired offshore contractor Gulf Marine
Services to support a wind farm project in Europe for eight months.
■ METAL FLOAT Gold explorer Tectonic Gold has started trading on the NEX junior stock exchange.
■ STAKE RAISED Multinational drinks business Diageo is hoping to increase its stake in Chinese alcohol company Sichuan Shuijingfang from 39.7pc to 60pc.