THE DAILY BRIEFING

DOLLAR SALE Insurer Aviva is selling its Taiwan business for $1 (75p) to Taiwanese partner First Financial Holding as it scales back in less-profitable areas. Shares rose 0.1pc, or 0.45p, to 499.6p. HEDGE CASH One of the world’s largest hedge funds sucked in £2.1bn of traders’ cash in the three months to September 30. Man Group is also doling out £ 75.2m to investors through a share buyback.

Yesterday, the stock climbed 3.4pc, or 6.1p, to 186.1p. SAMSUNG DEPARTURE The chairman of Samsung Electronics will step down next year.

Kwon Oh-hyun, 65, has been the face of Samsung in the absence of the company’s de facto chief, Lee Jae-yong, who was convicted in August of corruption and sentenced to five years in prison. Kwon’s term as chairman ends in March. HURRICANE PAYOUTS City insurance market Lloyd’s of London has already paid out more than £560m to cover claims from the three hurricanes which swept the US and Caribbean this summer.

The devastation is expected to cost Lloyd’s £3.4bn in total.

PRODUCTION FALLS Oil and gas explorer JKX Oil and Gas said production for September dipped 6.1pc month- on-month to 8,590 barrels per day.

The firm, which is focused on assets in central and eastern Europe, said that its project operator in Slovakia – Alpine Oil And Gas – was reconsidering its options amid protests and environmental requirements. CHINESE CONFERENCE Business-to-business media firm Ascen

tial is planning to host its Money 20/20 conferences, focusing on payments and fintech, in Hangzhou, China, in November next year.

PUB OPENING Independent pub operator Cubitt House is opening its fifth venue in central London, in Marylebone Lane.