THE DAILY BRIEFING
LAUNDERING TALKS Whistleblower Howard Wilkinson, who helped expose the largest moneylaundering scandal in history, is working with US authorities about the crisis at lender Danske Bank, which is thought to have laundered as much as £125bn through a toxic branch in Estonia. Wilkinson claims some cash reached a Harrow-based front company for the family of Russian president Vladimir Putin.
PIZZA TROUBLE Losses at pizza and pasta chain Strada swelled by 77pc last year to £19.5m. The group blamed one- off costs totalling £ 10.7m relating to impairment charges and lease exits.
GOLD MOVES UK investors are showing signs of caution as a quarter have said gold will be the best investment opportunity over the next year, according to research by asset manager Legg Mason. PUB PULL-OUT Frankie & Benny’s owner The Restaurant Group has backed away from buying gastropub chain Peach Pub Company as it focuses on its acquisition of Wagamama for £559m.
BLAZE FEARS US wildfires are piling pressure on insurance firms, which shelled out £12.4bn on claims last year – and the figure is expected to keep rising as climate change leads to more serious outbreaks.
The current blazes in California have destroyed 13,000 buildings and killed at least 79 people.
GIN WELCOME Drinks brand Edinburgh Gin is developing a distillery in Edinburgh which is expected to welcome more than 100,000 visitors each year.
CHILD’S PLAY Investors on Crowdcube, which allows savers to invest directly in start-ups, have raised £6.2m for Gohenry, which helps children learn about finance through a spending card and app.
HUT ROLES Online beauty firm The Hut Group is overhauling its board with the departure of chairman Richard Pennycook.
Founder and chief executive Matthew Moulding is expected to be appointed Pennycook’s replacement, according to Sky News.
RUSSIA CHARGES Russian prosecutors have issued criminal charges against British financier William Browder, who helped expose a corruption scandal.
Once a top investor in Russia, he fell out with the Kremlin after his auditor Sergei Magnitsky uncovered a huge tax fraud – leading to sanctions against the country.