THE DAILY BRIEFING
XI VOW Market liberalisation will continue, china pledged.
The communist regime vowed to give equal treatment to foreign and domestic businesses.
Leader Xi Jinping is seeking to present himself as a champion of free trade. But critics claim the rhetoric is never backed up by actions, and that Xi’s rule is increasingly tyrannical. FEE WARNING The world’s biggest retirement scheme has said it will only pay sky-high fees to stockpickers if they managed to beat the wider market. Japan’s £1 trillion Government Pension investment F und says so-called active managers will only get extra cash if they succeed, otherwise they will be paid the same as much cheaper tracker funds that aim to match the whole market. DOUBLE UP Profits at broker shore capital almost doubled to £4.6m last year thanks to demand for its investment management arm. sales rose 6.3pc to £41.9m. PENSION BOOST The black hole in blue-chip firms’ pension schemes shrank by a third in a year, figures reveal. The combined deficit of FTse 100 companies fell to £42bn in the year to June 2017. WAGES WOE Just 41pc of eligible Uk firms have published the pay gap between men and women – with days left before the deadline. around 9,000 businesses are meant to reveal their figures by next Friday. CARE CASH Online care business supercarers has raised £3.8m in a fundraising round led by investor seneca Partners. COST FEAR Trading at water firm Pennon Group has been in line with expectations, but it expects higher costs for its incinerator in Glasgow. annual results are due on May 25.
TEXAS TIE-UP Medical sticky tape maker scapa has bought Texas-based gel and cream maker Biomed Laboratories for £13.3m.
EASTER LIFT Brits are expected to spend an extra £80m going out over Easter, according to small business finance provider liberis.
FASHION ROLE Luxury French fashion house louis Vuitton has named Virgil abloh, founder of Milan fashion label Off-White, as menswear designer. LENDING HIKE small bank cambridge & counties has unveiled a jump in lending from £588m to £690m as it targets rapid growth.