THE DAILY BRIEFING

JOB CUTS The owner of fashion chains Monsoon and Accessorize slashed hundreds of jobs last year as it closed 18 stores to get the business back on track. The number of employees at Drillgreat Limited dropped 12pc to 2,737 in the year to August 26.

EXPANSION TIME Cartier owner Richemont has snapped up online retailer Watchfinder for an undisclosed amount. The website, which allows customers to research, buy and sell upmarket pre-owned watches, was founded in 2002 and has 200 employees.

UNDER PRESSURE The boss of TSB Paul Pester is set to be grilled again by a committee of MPs this week as IT issues continue to plague the bank. TSB is also facing an investigation by the Financial Conduct Authority, the City watchdog.

ELECTRIC CARS Car-sharing firm Zipcar is adding more than 300 electric vehicles to its scheme in London. Zipcar will make 100 electric Volkswagene-Golf models available by the summer, with 325 in operation by the end of the year.

LONDON LISTING Potash miner Emmerson is set to list on the London Stock Exchange today after raising £6m. Analysts have valued the firm at £298m which it expects to achieve when a new project in Morocco begins production in 2022.

OVERSEAS CRACKDOWN US regulators have ramped up probes into the UK financial services sector, claims law firm RPC. A crackdown on overseas financial misconduct has seen 203 requests submitted to the FCA for assistance – a 17pc rise on last year.