THE DAILY BRIEFING

RECORD DEAL Tech giant Apple is close to buying music recognition app Shazam in a cutprice deal of £300m. The purchase is set to be one of the largest takeovers in Apple’s history.

JUNK FIRM The future of Poundland-owner Steinhoff was plunged into further doubt as Moody’s slashed the group’s credit rating to junk. The South African firm’s chief executive quit last week after it revealed a probe into its accounts.

RETIREMENT CALL MPs have urged the Government to set a deadline on banning pensions cold calling and provide better guidance for pensioners before they access their retirement pot. SHOPPING SLUMP Credit card firm Visa says consumer

spending fell for the third month in a row in November, with 2017 set to be the worst performance in five years. The findings showed that spending in stores is continuing to slow, while online sales were boosted by Black Friday promotions.

PAY FREEZE Investors in Sports Direct are expected to block an £11m pay out to the brother of boss Mike Ashley this week. Shareholders will vote on Wednesday after a review found that John Ashley was underpaid for previous work at the firm.

ROUGH SEAS Struggling oil services giant Petrofac is considering quitting operations in the North Sea. The company, which has about 4,000 workers based there, is battling with debts of more than £750m and an ongoing fraud investigation.