THE DAILY BRIEFING

BOND BLOW Analysts predict Sainsbury’s will reveal its pension deficit has soared to £1bn this year, driven by a fall in the value of Government bonds.

It will become the latest retailer to highlight the widescale damage that low yield bonds are wreaking on pension funds. Sainsbury’s has injected £250m into the pension scheme since last year but has come under further pressure with its acquisition of Argos in February.

EXPORT BOOST British business reported stronger activity in the three months to October, following an initial slowdown after the Brexit vote.

The Confederation of British Industry said its monthly growth indicator rose in October from a six-month low in September.

CBI chief economist Rain NewtonSmith said: ‘Manufacturing exports are riding high on the back of weaker sterling and consumers are continuing to spend on the High Street.’ STEEL STRIFE Some of Tata Steel’s remaining UK operations could still be sold despite a dramatic boardroom coup which ousted its chairman, according to reports.

Cyrus Mistry has been replaced as the head of Tata Sons – the holding company – by family insider Ratan Tata. RIVAL DEAL The successful float of wound specialist ConvaTec is thought to have spurred its rival into looking at a possible listing.

Richard Anderson, chief executive of Crawford Healthcare, said last month’s float had sparked interest among fund managers. OIL PLEA Trade body Oil And Gas UK has urged the Chancellor to use this month’s Autumn Statement to boost the beleaguered industry.

The North Sea oil and gas industry is facing fierce competition for investment due to a fall in the price of oil.