THE DAILY BRIEFING

LONDON WHALE

Britain’s highest court will rule on a battle between a banker and the City watchdog.

The case relates to the 2012 London Whale scandal at JPMorgan, in which staff at the US bank’s City office racked up £5.1bn of losses by betting on risky derivatives markets.

JPMorgan was fined £138m by the Financial Conduct Authority and the unit’s former boss, Achilles Macris, 55, was hit with a £792,900 penalty. But he claims he was improperly identified in a report on the JPMorgan fine.

The case now goes before the Supreme Court after the regulator appealed against an earlier ruling in Macris’s favour. Judgement is expected in the next three months.

COMMERCE CHIEF

The British Chambers of Commerce has appointed Adam Marshall as its new director general following the resignation of John Longworth in March.

Marshall, who has worked at the business group for seven years, has been acting director general since Longworth left.

Longworth left the BCC in a row over his backing for Brexit. He went on to become a notable supporter of the Leave campaign.

BCC president Francis Martin said: ‘Marshall is the outstanding choice to lead the BCC, at a time when the views of business have never been more important.’

WHITBREAD ROLE

Costa Coffee owner Whitbread has appointed a former Barclays finance chief as its boss of pay.

Deanna Oppenheimer will succeed Stephen Williams as chair of the firm’s remuneration committee in March. Also joining the Whitbread board is David Atkins, chief executive of retail property company Hammerson.

FINDEL SALES

British home shopping and education company Findel has reported a mixed performance in the first half of the year.

Sales in its greeting card company, Express Gifts, were up 12pc but sales in education business, Findel Education, were down 5.5p.

Despite the mixed results, Findel said it was confident of achieving a target of 100,000 new customers by the end of the full year.

JUPITER BOOST

Investors pumped £789m into Jupiter Fund Management in the three months to September 30. The firm has £40.4bn of assets under management.

SHELL CONFIDENT

Royal Dutch Shell said it remained fully committed to selling the majority of its stake in Japanese venture Showa Shell to refiner Idemitsu after the two Japanese entities announced a delay of a planned merger.