THE DAILY BRIEFING

WPP REVOLT Sir Martin Sorrell is facing an investor backlash this week at WPP’s annual meeting over his record £70m pay package.

the 71-year-old marketing chief executive is one of the best paid business leaders in the world and has taken the eye-watering sum despite fierce protests from investors.

FACTORY FLOP Struggling world economies, cutbacks in oil and gas investment and the steel crisis are weighing on Britain’s manufacturers.

Over the second quarter output and orders failed to climb back to positive territory according to a manufacturing outlook survey by lobby group EEF.

TAX PROGRESS the battle to stamp out firms like Google booking profits abroad to save paying UK tax has made early progress, research shows.

the number of investigations into big firms the taxman suspect of using so-called transfer pricing to avoid tax has fallen by 15pc in a year according to accountant UHY Hacker Young.

SAINSBURY SLUMP Sainsbury’s is likely to say first quarter sales have fallen after it scrapped a key price promotion in a bid to simplify its strategy.

Britain’s third largest grocer axed its ‘buy one get one free’ offer while also ditching its brand- match guarantee.

these are likely to have a short term impact which analysts say could mean flat underlying sales when it delivers an update on Wednesday.

OIL CRISIS the weak oil price continues to hammer the UK’s North Sea oil industry, with half of firms surveyed planning to cut costs further this year.

Scottish firms have been worst hit by the slump, with almost six in 10 admitting their business has been severely or quite badly affected.

this is against a UK-wide average of 41pc, according to a survey by Lloyds Banking Group.