THE DAILY BRIEFING

EMERGENCY LOAN Payday lender Wonga has taken a £10m bailout package from tech investors to stave off collapse.

US GAMBLE Bookie William Hill is considering a tie-up with an American casino giant to give it a leg up into the lucrative US sports betting market. The potential deal with Penn National Gaming comes after a landmark ruling this year that legalised sports betting in several US states.

LIFETIME PARTNERSHIP Legal & General Home Finance has a five-year deal to offer its lifetime mortgage range through Virgin Money. The products will be available to interest- only Virgin customers over 55.

EARNINGS SURGE Profits at UK- listed firms rose 86pc to £210.8bn in the year to June 30, extending the longest profit growth since the recovery from the financial crisis. The Share Centre said revenues were up 13.6pc compared to a year earlier as firms increased profit margins.

LUXURY DEALS The value of merger and acquisition deals in online retail leapt to £461m last year, a 14-fold increase from £31m a year earlier. Law firm RPC said they were driven by luxury firms attempting to boost their online shopping businesses rapidly.

FOOD RANGE Frozen food retailer Iceland is set to open stores inside home and garden chain The Range. Iceland will sell its own-label food line in three of The Range’s stores, with plans for a further rollout. Iceland boss Sir Malcolm Walker said it would attract people who had never shopped at the supermarket.