THE DAILY BRIEFING
SPACEY COSTS Allegations of sexual assault against Kevin Spacey have cost Netflix nearly £30m.
The online video service scrapped projects featuring the 58-year-old actor and former artistic director at London’s Old Vic after claims were first made in October.
The cancelled projects included episodes of hit series House Of Cards and a biopic about writer Gore Vidal.
TESLA TARGETS Entrepreneur Elon Musk has proposed tying his pay as Tesla boss to the electric car company’s growth targets. The goals include taking its market capitalisation from £42bn to £465bn in a decade and boosting sales to £125bn – more than General Motors.
AUDIT SHAME Bean counters who signed off the books at scandalhit insurance software group Quindell have been fined more than £1m. Arrandco Audit, formerly RSM Tenon, and its partner Jeremy Filley admitted misconduct in relation to the audit of Quindell in 2011.
FASHION ROLE Retailer Superdry has appointed Sainsbury’s director of group finance Ed Barker as chief financial officer, replacing Nick Wharton who leaves this year.
PRICE CUTS Store group The Co-op has invested £50m in cutting the cost of 600 food products including fruit, vegetables, bread, meat and ready meals.
TV BOOST Brief Encounters, a 2016 ITV drama series based on Ann
Summers’ saleswomen, helped the racy lingerie brand enjoy 180pc leap in its profits to £2.9m in the 52 weeks to June 24, as it celebrated the turnaround of its party plan business.
FRAUD WAR Sussex-based Hastings Direct has turned to defence giant BAE Systems to help it detect fraudulent claims. BAE’s Netreveal software could spot criminal activity, the insurer said.
CLAMPDOWN CRITIC Peter Hetherington, boss of trading platform IG Group, said a crackdown by the European Securities on Markets Authority on amateur investing was over the top. The comments came as IG reported a 10pc rise in halfyear revenues to £268.4m and a 29pc leap in profits to £136.2m.
SNOW JOKE Pub chain Marston’s will take a £1m profit hit after snow storms in early December and between Christmas and new year slowed the flow of customers to its pubs.