THE DAILY BRIEFING

SWITCHED OFF Media giant Discovery has threatened to withdraw its channels from Sky over claims it ‘refuses to pay a fair price’.

Sky is not renewing its contract with Discovery, meaning channels such as TLC and Eurosport will disappear from its programming. Sky said: ‘We have been overpaying Discovery for years.’

OIL DEMAND Global demand for energy is expected to increase by around 30pc between 2015 and 2035, oil giant BP said. Oil, gas and coal will be the main sources of energy up to 2035, the company believes. TURNOVER DOUBLES Media group Time Out said full-year revenues are ahead of its expectations and its food market in Portugal saw turnover more than double in 2016.

The group, which floated on the AIM market last June, said its market in Lisbon saw 110pc revenue growth and 3.1m visitors.

RETAIL WOE The number of jobs in retail fell at the end of last year as firms hired fewer seasonal staff and cut back on overtime, said the British Retail Consortium. The biggest reduction was in December, when there were 4.6pc fewer full-time jobs than in the previous month.

EASTERN PROMISE Western fashions boosted Koovs, an online shopping brand for ‘style-conscious’ teens and young adults in India, which said sales in the nine months to December 31 were up 101pc from the year prior, to £13.5m.

SALES BUILDING Higher average sale prices have kept retirement housebuilder McCarthy & Stone on track in the 20 weeks to January 20.

The firm said reservations so far this year have contributed £206m in revenue to the firm’s forward order book, some 5pc ahead of a year ago.

Total sales including completions are currently around 2pc behind last year at £323m but the firm said it expected the second half of the year to be stronger.

MAGIC TOWER A £400m skyscraper will be built in the heart of London next to the historic Leadenhall Market – which featured in the Harry Potter films.

The 600ft, 36-storey building – to be named 1 Leadenhall – is joining a string of new towers in the City.

Construction is due to start next year with the building open in 2021.

UNFIT BUYER Climate change minister Nick Hurd said no decision had been taken on the sale of the Green Investment Bank after MPs rounded on the Government’s preferred bidder Macquarie yesterday saying it was ‘unfit’ to own the bank.

Ministers are understood to be considering an IPO of the bank that invests in green energy projects around the UK.