THE DAILY BRIEFING
CASH IN Two private equity funds have raised £6bn to snap up firms across Europe. Investors have pumped £3.8bn into Nordic Capital and Inflexion has netted £2.2bn.
CASH OUT The bailed-out Royal Bank of Scotland, which is expected to return to private hands in coming months, is plotting dividends on a similar scale to Lloyds, one of the City’s most generous payers.
COINING IT Computers producing digital currency bitcoin could account for as much as 0.5pc of global energy usage by the end of this year, a study by PwC claims. Bitcoins are created by cracking complicated mathematical formulas using supercomputers.
SIZE LARGE Budget fashion chain Primark has created 500 jobs at its new 70,000 sq ft store opening next month in Westfield shopping centre, west London.
CLOSING DOWN The number of retailers that collapsed into insolvency increased 7pc to 1,071 last year, according to law firm RPC. Online shopping and rising costs plagued retailers while the number of people shopping on the High Street dropped 6pc.
CHEAP FLATS New York’s city council is planning a crackdown on accommodation listings website Airbnb, to make it easier for inspectors to check whether they are breaking housing rules.
FACE TIME Mark Zuckerberg, 34, has agreed to have his grilling today by European Parliament members live-streamed over the internet.
The Facebook chief executive has been summoned to answer questions about how data from millions of Facebook users was collected by UK firm Cambridge Analytica.
JOBS LOST More jobs have been lost following the collapse of construction giant Carillion, taking the total to over 2,300.
The Official Receiver announced that redundancies now account for 12pc of the workforce. Discussions continue with potential purchasers for Carillion’s remaining contracts.
KEEP OUT Shale gas exploration company Cuadrilla has filed court papers seeking an injunction forbidding trespassing at its Preston New Road site in Lancashire.
The injunction would extend an existing order covering the site and surrounding farmland. It would prohibit unlawful obstruction of the site’s entrance, and disruption of the firm’s supply chain by, for example, blockading supplier properties.