THE DAILY BRIEFING
■ QUITTING OPEC Qatar is pulling out of the Opec oil producing alliance as it focuses on natural gas production following a blockade by neighbouring countries.
The Gulf state’s oil firm announced it will leave the Opec alliance at the start of next year after almost six decades as a member.
It has been blockaded by many of its Middle Eastern neighbours for the past 18 months over claims it funds terrorism.
■ PROPERTY CHALLENGE Housebuilders Persimmon, Barratt, Bovis, Countrywide and Redrow have backed an online property website called Rummage 4 Properties which is an attempt to challenge leading players Rightmove and Zoopla. ■ FINN FLOAT Broker Finncap, which is set to begin trading on London’s junior stock market AIM tomorrow, has raised £5m from investors ahead of its float.
■ HARASSMENT SUIT Law firm Reed Smith could be sued by one of its former trainees after it identified her in a report about sexual harassment for the Solicitors Regulation Authority. It was filed after it sacked one of its partners following harassment complaints. ■ NAVY DEAL Engineer Babcock has struck a joint venture deal worth £864m to provide services to Australia’s navy.
■ PAY TEST Executive pay will be linked with climate change targets at Royal Dutch Shell after pressure from investors. It is drawing up plans for the incentive scheme and will put them to a shareholder vote in 2020. The scheme would see executive pay decided partly on whether the company had met its targets for reducing its carbon footprint,.
■ RAID FEARS Shareholders in struggling Deutsche Bank have raised concerns after it was raided in an anti-money laundering probe.
■ CLIMATE CASH A £157bn fund to help countries tackle climate change is being launched by international financial organisation, World Bank.
■ SCAM ATTACK The Scamsmart website, which offers advice about avoiding pension scams, was visited by 173,000 savers during a campaign run by City watchdogs, The Pension Regulator and Financial Conduct Authority.
■ BOSS OFF Nick Basing, chairman of 5-a- side football operator Goals Soccer Centres’ US division, is stepping down later this month.