THE DAILY BRIEFING

COMMODITY BOOST Anglo-Australian miner BHP Billiton has flagged early signs of a commodities recovery as it predicted oil and gas markets would improve over 12 to 18 months.

It came in a trading update in which it reported a 6pc fall in copper output for the three months to September 2016, compared with a year earlier. Shares fell 0.5pc, or 6p to 1218p.

DOUBLE EXPRESSO Starbucks is pushing ahead with expansion in China by more than doubling its presence and putting it on track to have 5,000 stores in the country by 2021.

Starbucks chief executive Howard Schultz said China could one day surpass the US as its largest market.

CHINA GROWTH China’s economic growth held steady in the latest quarter, shored up by a lending boom and consumer spending that helped make up for weaker trade.

The world’s second-largest economy grew by 6.7pc in the three months ending in September compared with a year earlier, which was better than some forecasters expected.

MODEL SALES Europe’s largest online fashion retailer Zalando has hinted at rising sales and profits as it prepares to go head-to-head with Asos.

The German retailer increased its profit forecast amid a better-thanexpected autumn season and is now forecasting earnings of up to 6pc, an increase from its previous forecast for 4-5pc.

TARIFF CHECKS Households and small businesses on expensive energy tariffs will be recommended cheaper alternatives once new measures are approved.

The Competition and Markets Authority is in the process of finalising measures that will require suppliers to provide details of customers who have been on tariffs for more than three years.

EXPRESS REVENUES Eurotunnel shrugged off concerns over Brexit to post upbeat third-quarter figures and issued bullish comments in the wake of the EU referendum.

The firm said its business ‘has never been stronger’ and there was ‘no sign of slowdown in the UK economy’. Revenues for the third quarter of 2016 grew 4pc to £286m, compared with the same period in 2015.

PAY BONANZA Bankers at US lender Morgan Stanley took home an average £61,000 in the three months to September 30.

New figures show the firm paid its 55,256 employees a total of £3.3bn in the period.

PROFITS RISE Swedish lender Handelsbanken has announced a 9pc rise in British profits to £46.4m in the three months to September 30.