THE DAILY BRIEFING

PAY DEAL The boss of Worldpay is in line for a £9m salary in return for staying on after a £7.7bn takeover by American rival Vantiv. Philip Jansen is to receive a pay and bonus package worth £9.2m and could relocate from London to the Us following the merger.

SUPPLIER SALE spar’s biggest supplier is pondering a £100m sale of its wholesale arm. AF Blakemore, which supplies more than 1,000 spar convenience shops, has hired advisers at KPMG to consider the deal, as it focuses on its retail division.

DRIVING DOWN one of the AA’s original stock market backers is betting the breakdown firm’s shares will continue to fall. Hedge fund GLG has increased its short position since executive chairman Bob Mackenzie was ousted on Tuesday for gross misconduct.

ROUGH SEAS British seaside towns are most at risk of bankruptcy – new data has shown. Research by accountancy firm Moore stephens found that Torquay was the most affected, closely followed by scarborough, Hull, Plymouth and Blackpool.

BUILDING CASH The amount of money that directors of plumbing, electrical and other small

construction firms pump back into their businesses has jumped 27pc in three years, according to Funding options. This is partly due to a fall in bank lending.

RESCUE CALL Grocery wholesale firm Palmer & Harvey is seeking to secure a £100m cash lifeline from investors. The company, which has a turnover of £4.5bn and employs 4,000 staff, has drawn up a plan to slash costs.