THE DAILY BRIEFING

ECONOMY GROWING Britain looks set to clock up another quarter of economic growth – confounding warnings that the Brexit vote would trigger a painful recession.

A closely-watched health check of the economy yesterday put the UK on course to expand 0.3pc between July and September – the fifth consecutive quarter of growth since the vote to leave the European Union.

BANKER MOVES Banker Jean-Baptiste Petard has been poached by Citi from UBS to run its global industrial business from London.

NORWAY INVESTS The world’s largest sovereign wealth fund, the Norway Government Pension Fund, which holds £800bn of the nation’s oil wealth, is piling into British assets as it ditches debt in Japan, and pulls out of emerging markets.

TECH BOOST New technology helped revenue at accountants Ernst & Young climb 7.8pc to £24.2bn in the year to June. It bought 13 tech firms in the period.

REVENUE UP Defence firm Chemring has posted a 13.5pc rise in revenue, to £156.7m, boosted by orders from the US government for the four months to August 31.

DIAMOND DIP Diamond firm De Beers sold £389m worth of rough diamonds during its seventh sales cycle of the year, compared to £492m during the same cycle last year.

CONTRACT WIN Embattled oil services firm Petrofac has won a £311m contract to help develop onshore gas pipelines and a receiving terminal in Turkey.

AIRLINE FLIES Budget airline Ryanair grew its traffic by 10pc last month to 12.7m passengers while load factor rose 1pc to 97pc.

TURBINE PLAN International conglomerate GFG Alliance wants to build a 54-turbine wind farm in the Scottish highlands to generate 178MW of electricity to power its aluminium smelters and steel mills.

THEFT TOLL More than £184m worth of items were stolen from UK businesses in just three years – with 842,752 cases of reported theft between 2013 and 2016, a freedom of information request by storage company Space Station found.

VIDEO SWOOP Online advertising firm Rhythm One will buy New York-listed video ad firm Yu Me for £143m to create an ad giant to compete with Google and Facebook.