THE DAILY BRIEFING

BOOKIE SETTLES Betfred has paid out £800,000 over revelations that one of its online customers was gambling with stolen money.

the Gambling Commission found failures in the bookie’s anti-money laundering and social responsibility policies. Customer Matthew Stevens, 30, pleaded guilty in January to theft after taking £856,700 from his employers to fund his gambling addiction.

A Betfred spokesman said it had strengthened its policies.

PRICE FREEZE Inflation remained unchanged at 0.3pc in May, the Consumer Prices Index showed. A jump in transport costs was offset by falling prices for clothes and food.

the retail Prices Index – which is broader and includes some housing costs – rose from 1.3pc to 1.4pc.

VOTE ADVICE Shareholder advisory body Pirc has recommended investors vote against the pay packages of tesco bosses at its annual meeting next week.

the store is handing chief executive Dave Lewis a package of £4.6m. tesco shares fell 1.5pc, or 2.2p to 147.35p.

RIDING HIGH Paragon entertainment made a profit in the last year. the rides and exhibit maker reported profits of £346,000 to December 31, compared to a loss of £427,000 the previous year.

revenues rose 10pc to £8.5m. Shares rose 3.5pc, or 0.05p to 1.48p.

US TIE-UP tech company StatPro Group has signed a deal in the US worth £1.2m.

the firm, which specialises in software and online subscription services for businesses, signed a five-year contract with a financial institution, which was not named.

Shares rose 3pc, or 2.5p to 85p.

HATS OFF Demand for silk top hats from menswear specialist Oliver Brown soared in the run up to royal Ascot this week.

the firm has hired out 800 morning suits and top hats for the horse racing event. Sales reached £600,000 in the past month, up 33pc on last year.

ECKOH RISE Profits and revenues at payments firm eckoh rose as it eyes a breakthrough in the US.

Profits were up 22pc to £4.1m in the year to the end of March, compared to a year earlier. Sales rose 31pc to £22.5m. Over the period it won nine US contracts. Shares fell 6.7pc, or 3.5p to 49p.

METER MOVE Smart metering company Cyan has made a £6.8m acquisition which will help it to trade on home soil and in europe.

the Cambridge firm has bought Swedish wireless communication business Connode Holding.

DISNEY DEAL Style brand Cath Kidston has teamed up with Walt Disney to sell Winnie the Pooh and Mickey Mouse designs from September.