THE DAILY BRIEFING
■ LIBOR FINE
A rogue trader at Deutsche Bank has been fined £180,000 for rigging Libor lending rates. Guillaume Adolph, 39, badgered colleagues and rival traders into manipulating Libor, used to set prices around the world.
■ BERMUDA BUY
Insurer Axa is buying Bermuda-based XL Group, which specialises in property and casualty claims, for £11bn.
■ STORE BATTLE
Bargain retailer Poundland is to put more of its Pep& Co fashion outlets inside stores as it ramps up competition with rival Primark.
■ LOSS BLOW
Taxi firm Addison Lee fell to a £20.8m loss last year, compared to a profit of £10.5m the year before, after it was stung by costs.
■ NAME CHANGER
Trinity Mirror is to be renamed Reach after its takeover of the Express and Star newspapers. Profits at Trinity grew 7pc to £81.9m for the year but revenue plunged 12.6pc to £623.2m.
■ BET BOSS
Betting group Paddy Power Betfair saw finance director Alex Gersh, 53, announce his exit.
■ RATE WOE
Small businesses face a £355m rise in debt costs if the Bank of England hikes interest rates by 0.25 percentage points in May, claims Hadrian’s Wall Capital.
■ LAW CHANGE
The US Senate is preparing to water down tough banking laws passed after the 2008 financial crisis.
■ VOTE DELAY
A crucial vote that could accelerate a £103bn hostile takeover of chip giant Qualcomm by rival Broadcom has been delayed.
■ DAY JOB
Colin Day, 62, a nonexecutive director at defence firm Meggitt, is joining the board of Euromoney Institutional Investor.
■ GEM SALE
Canada’s Lucara Diamond has completed its purchase of digital diamond sales platform Clara Diamond Solutions.
■ BEARING UP
FTSE 250 manufacturer Fenner has bought the assets and business of US metal bearings maker National Bearings Company for an undisclosed sum.
■ SCREEN SAVERS
Spending on cinema and theatre visits rebounded in February after falling for five consecutive months, said Barclaycard.
■ MEAL DEAL
US supermarket Walmart will start selling prepared meals at 2,000 of its stores by the end of this year.