THE DAILY BRIEFING

BP GUSHER

A BP oil rig off the coast of Angola has pumped 500m barrels since it launched ten years ago.

The Greater Plutonio rig, which runs 24 hours a day, was the oil and gas giant’s first in the southern African nation.

DEBT PROTECTION

Investors who have cash with a fund manager could get extra protection under the Financial Services Compensation Scheme.

The City watchdog is reviewing FSCS rules that provide some protection if a fund manager goes into default. The regulator also wants firms that chase consumers for debt to be covered by the scheme.

SERVICES ABROAD

Britain is set to remain the second-largest services exporter after the US, according to HSBC research.

Analysts said UK services exports would be worth £705bn in 2030 – twoand-a-half times their value last year.

It also said that new barriers, such as a loss of access to the European Union’s single market, could knock 4pc off projected trade.

LOYALTY DISCOUNT

Supermarket loyalty is decreasing, according to a new survey.

Just 12pc of 2,000 shoppers surveyed by leading coupon provider Valassis claimed loyalty to one brand. More than two-thirds shopped across two or three stores, compared with 22pc in 2014.

HIGH FLYER

Infrastructure firm Stobart has appointed an ex-EasyJet boss to serve as its second in command.

Warwick Brady – who was chief operating officer of EasyJet until September – will take on the role of deputy group chief executive at the firm, which provides infrastructure and support services in the biomass, energy, aviation and railway sectors.

DRAGON’S SUCCESS

At-home treatment provider Innova-Derma, which includes Dragon’s Den success story Skinny Tan, has raised £800,000 to expand its beauty range.

The company, which produces treatments for hair loss, hair care, self-tanning and skin rejuvenation, said it secured the money through a placing by investment firm Hybridan and would use the money to build stock and expand its portfolio.

PREMIUM STAKE

South African firm Rand Merchant Investment is acquiring a 30pc stake in insurance company Hastings.

RMI will buy the stock at between 248p and 255p per share, spending about £490m.

This will mostly be acquired from Hastings’ largest shareholder, Goldman Sachs.

Hastings rose 6.8pc, or 15.1p to 236.5p yesterday.