THE DAILY BRIEFING

PROFIT PLUG Energy firms should make a profit margin of just 1.25pc on household bills, a fifth of the level made by the two biggest suppliers last year, the Competition and Markets Authority has said. Roger Witcomb, who led the watchdog’s two-year investigation into the sector, said they should make only £12.50 profit on a £1,000 gas and electricity bill as ‘they don’t make the stuff.’ BEER MONEY Aberdeen Asset Management is the latest shareholder of beer giant SAB-Miller to call for the cash part of the £70bn takeover by AB INBEV to be renegotiated due to the fall in sterling. Anger from investors is throwing into doubt the biggest takeover yet of a British company. SHARE CELL-OFF Stem cell specialist WideCells Group is set to float on the London Stock Exchange this week. Among its products is a stem cell insurance plan, stem cell processing and cord blood storage facilities. BREXIT RISKS The UK’s vote to leave the European Union heightens risks for the world economy, finance chiefs have said at the end of the G20 summit in China. They urged the UK to remain ‘a close partner of the EU’ amid concerns Brexit talks could be acrimonious. SHOPPED OUT The number of new shops planned in Britain has fallen nearly 10pc in the past year, following a raft of retail failures in recent months. According to figures from law firm EMW, the number of applications for new shops has fallen to 6,700, down from 7,360. RED ROLLS Engine maker Rolls-Royce will have to write down £2bn this week following the fall in sterling after the EU referendum. Analysts expect the charge will drag the FTSE 100 firm into the red when it reports first-half results on Thursday.