THE DAILY BRIEFING

GAS GUSH

Oil supermajor BP has started producing gas from its field in the Caspian Sea. It is the starting point for a series of pipelines that will deliver natural gas from the sea direct to European markets.

SALES SURGE

Sales at aerospace parts maker Meggitt could grow by up to 6pc this year, higher than the 4pc previously forecast. Chief operating officer Tony Wood is also revamping its structure to fuel growth.

HOTEL TIE-UP

Luxury hotels group Intercontinental has completed its purchase of a 51pc stake in Regent Hotels & Resorts for £30m. It will gradually acquire the remainder of the Taiwanese hotel business from 2026.

CHANNEL DEAL

The BBC and Channel 4 could team up to make a £500m bid for TV company UKTV, which owns television channels Dave and Gold. It is 50pc owned by BBC Worldwide but the public service broadcaster wants to buy the rest from fellow shareholder Discovery. It cannot afford to do so on its own so is looking for a partner.

MARKET RETURN

Computer maker Dell has returned to the stock market in a £16.5bn deal. Founder Michael Dell controversially took it private in 2013 in a bid to push through a major overhaul.

JOBS GO

The number of workers losing their jobs following the collapse of engineering giant Carillion has topped 2,400, figures show. The Official Receiver reported that a further 14 employees have transferred to other suppliers over the past week, taking the total of those finding other work to 12,338 – 68pc of the pre-liquidation workforce.

PROFIT BOOST

Radiation detection firm Kromek has posted a 32pc rise in sales to £11.8m. The AIMlisted firm swung to a profit of £500,000, compared to a £1.5m loss the year before.

FLOAT BID

Plant nutrient producer Kropz plans to list on the junior AIM stock market during the second half of 2018, to raise funds for its Elandsfontein project in South Africa.

CASH HELP

Bella Italia and Café Rouge owner Casual Dining Group will get a £30m cash injection as part of a refinancing deal that will help the business grow.

ANGOLA SALE

Oil and gas firm Soco International has sold its interests in Angola for up to £3.8m.