THE DAILY BRIEFING

BRITAIN BOOMS Economic growth and inflation are on course to outstrip previous Bank of England forecasts, according to a senior policymaker at the central bank.

Michael Saunders, a member of the monetary policy committee that sets interest rates, said inflation could hit 3pc by the end of this year and has predicted gross domestic product to expand by 2pc through next year and 2018.

The bank had previously forecast the inflation to peak at 2.8% in the first half of next year and for GDP to grow by 1.6pc in 2018.

BANK FINED US authorities have hit Deutsche Bank with a £122.4m fine for failings by its traders. The Federal Reserve said not enough was done to monitor internet chatroom conversations between currency desk staff and their competitors. And the lender also violated the Volcker rule, which forbids banks from doing certain trades with their own money.

QUAKE QUIZ A court in the Netherlands has ordered prosecutors to investigate whether a Shell-Exxon joint venture bears any criminal responsibility for earthquakes triggered by production at the country’s largest gas field. The numerous small quakes have damaged thousands of buildings across the north- eastern province of Groningen.

PAY ROW Mining giant Anglo American is facing a revolt over executives’ bonuses. Royal London Asset Management, which owns 0.55pc of shares worth around £80m, plans to vote against the remuneration report at the company’s annual general meeting in London on Monday.

STEEL DEAL International steel producer Liberty House is stepping into the US, buying the Georgetown Steelworks in South Carolina from Arcelor Mittal.

PLANTS BOUGHT Solar power investment company Next Energy Solar Fund has bought four plants worth £30.5m.