THE DAILY BRIEFING
MINING PROFIT Platinum producer Lonmin has made an annual pre-tax profit for the first time since 2013. It made £53m in the year to the end of September, up from a loss of £939m last year. It is being bought by South Africa’s Sibanye-Stillwater in a £285m deal.
OIL DIVI Explorer Tullow Oil will start paying investors a dividend again from 2019, handing out at least £78m for a yield of around 3pc.
IRON WORK Miner Rio Tinto will spend more than £2bn on building its most technologically advanced mine in Western Australia, with work due to start next year. SOLDIER DEAL Tech firm Microsoft has won a £375m contract from the US military to supply 2,500 augmented reality headsets to soldiers.
APPLE SALES Top Apple executive Greg Joswiak says the new iPhone XR is its best seller ever, denying rumours of a slump after reports that parts suppliers are expecting lower demand. ALLIANCE PLEDGE Car makers Renault, Mitsubishi and Nissan have reaffirmed their commitment to their 1999 alliance, despite the arrest of boss Carlos Ghosn.
AIR BOOST Passenger numbers at Gatwick Airport grew 0.5pc to 26.5m in the six months to September 30, compared with a year earlier. Revenue increased 5.4pc to £512.5m while profits fell 1pc to £139.1m.
ASIA START Toy seller Hamleys has opened its first store in Japan and plans 30 more in east Asia.
TSB SLUMP Customers of TSB have given damning reviews of the bank, as it fell to the bottom of Which?’s satisfaction surveys. Digital-only bank Monzo came top.
AMAZON PROBE Germany’s competition watchdog is probing
Amazon after complaints that the online shopping giant is piling unfair charges on companies which sell their goods through its website.
JOBS AXE Pharma group Bayer is axing 12,000 jobs and selling some businesses after its £49bn takeover of seed company Monsanto went disastrously wrong. It will divest its animal health division, seek a buyer for its 60pc stake in German group Currenta and is looking at options for its consumer health unit.
DRINKS FIZZ Pepsi maker Britvic posted higher than expected profits as its low and no-sugar drinks proved a hit. Revenues climbed 5.1pc to £5.2bn in the year to November 29. Profits rose 5pc to £146m.