THE DAILY BRIEFING
BITCOIN BOOST Profits at online trading firm IG jumped 31pc to £280.8m in the year to June. Bosses said it was down to a surge in bitcoin trading in December, and market turmoil earlier this year.
TRADE WARNING swiss bank UBS says a trade war between europe, the Us and China could damage global growth. it said international tensions and rising protectionism have hit confidence.
LOANS BACKED a lender support ing growth in Brazil, russia, india, China and south africa called The New Development Bank has backed £450m of loans for projects.
TERROR PAYOUTS Car insurers have agreed to jointly shoulder the costs of payouts for terror attacks involving vehicles. the Motor Insurers’ Bureau, an industry body funded by member companies, will pay any bills if a firm wrote the policy for a vehicle used by terrorists.
RISK ROLE shamed accountant KPMG has hired its first chief risk officer in a bid to avoid future scandals, poaching mary o’Connor from rival Willis towers Watson.
BANKS FINED Five scandinavian banks have been fined £2.2m by eU regulators for providing credit ratings without official approval.
STAKES SALE two major investors in finance it firm FNZ are plotting to sell their stakes in a deal that values the firm at as much as £2bn. General atlantic and hiG europe each have 33pc of the company.
FLOAT DELAY the £1.5trillion float of saudi arabia’s state oil firm
Aramco could be delayed until at least 2020 by an investment programme in the middle eastern country. it would be a blow to London and new York, which are fighting to host the aramco listing.
TRANSFER PROGRESS Communications giant BT says it has made significant progress in transferring 31,000 workers to the separate openreach business. Consultations with unions end in september, with a planned transfer on october 1.
XBOX PROJECT tech giant Microsoft is developing a cheaper version of its Xbox device, to stream video games from the internet.
TARIFF WOE motorcycle maker
Harley- Davidson says tariffs imposed by the Us and eU as trade tensions grow will hit it harder than previously thought. it expects margins to shrink by up to 3pc.