THE DAILY BRIEFING

STAKE SALE Savings firm Legal & General is selling its 26pc stake in insurer Indiafirst Life to US private equity firm Warburg Pincus for £79m. Shares rose 0.7pc, or 1.8p, to 271.6p.

SLICK DEAL Dulux paint maker Akzo Nobel has secured a two-year deal to continue supplying its antislime coating Intersleek to the Qatari shipping giant Nakilat.

LISTING DATE Egypt and Canadafocused oil and gas explorer TransGlobe Energy plans to list on the junior AIM stock exchange on June 29. It is valued at about £160m on the Nasdaq stock exchange.

ENERGY LOSS Oil and gas firm i3 Energy has made a loss of £2.9m during its first year on AIM as it develops its Liberator field in the North Sea.

CASH LIMITS Struggling Greece plans to increase the monthly limit set on cash withdrawals from the nation’s banks as it seeks to return to financial normality. The bailed-out country allows only £2,020 a month to be taken out, but this could rise to £4,390.

RECORD SET Bankers’ favourite London City Airport has had its busiest ever bank holiday. More than 45,000 passengers passed through from May 25 to 28. Friday May 25 was its busiestever day, with 19,496 travellers.

COAL SELL-OFF Global miner Rio Tinto has sold its 75pc interest in Australian coal development project Winchester South to Australian firm Whitehaven Coal, for £150m.

CHIP BREAKTHROUGH British chip-maker Arm Holdings says one of its new designs could allow it to break into the laptop and computer market. Its microchips are used in most smartphones but it said its latest could significantly extend the time laptops could last on a battery charge by making them more efficient.