THE DAILY BRIEFING

RECORD PROFITS

Petrochemical firm Ineos has reported record profitability with earnings of £3.7bn in 2016, up from £3.4bn the previous year. It said it had repaid £1bn of debt and refinanced other debt to save £85.5m a year.

STAYING PUT

Online travel firm Expedia is to expand its London office – the latest to commit to keeping its operations in Britain after Brexit. Expedia has signed a deal to expand its Angel base by 138,000 sq ft on a lease which runs until 2030.

PAYING OUT

Global dividends grew just 0.1pc in 2016, according to research by investment house Henderson. Companies paid out £930bn to shareholders, but payouts from UK firms fell to their lowest level since 2012, at £75bn.

The firm said a weaker pound should drive up dividends in the UK by 3.2pc this year while a stronger economy and corporate earnings in the US should also boost payouts.

CLOSING DOWN

Rising costs could put up to 1,800 UK hotels out of business over the next three years. Accountancy firm Moore Stephens blamed a weaker pound and the higher national living wage while comparison websites and budget chains are also putting pressure on margins.

HOLIDAY HIT

The number of Britons searching for holidays to the US has fallen by almost a third since President Donald Trump took office, according to figures by Cheapflights.

The company said that searches for holidays to Thailand were up 27pc and Mexico by 22pc as customers sought to find better value for money.