THE DAILY BRIEFING

CHAIRMAN EXITS

The chairman of the world’s second-biggest miner is to leave the company after seven years at the head of the board. Jacques Nasser, a former chief executive of Ford, had intended to announce his retirement last year, but agreed to stay on as BHP tackled the aftermath of the Samarco dam collapse in Brazil, where 19 people died.

AWAY WIN

Gala Coral reported an 8.9pc rise in fourth quarter revenues as it counted down the days to its £2.3bn merger with rival Ladbrokes. Annual revenues were 11.3pc ahead of last year. The figures came after Ladbrokes said another ‘stuttering’ start to the football season by Manchester United was boosting profits.

SHARE WINDFALL

Oil and gas group Hurricane Energy has conditionally raised £70m through a placing of more than 200m shares. It has proposed an issue of 205,882,353 shares at 34p per share. The company is also proposing a separate open offer to all qualifying shareholders who want to take part to raise a further £4.4m. Shares rose 1.29pc, or 0.5p to 39.25p.

WHISKEY TOAST

America’s thirst for Irish whiskey was behind a 4pc rise in first quarter sales for Jameson owner Pernod Ricard. The world’s second largest distiller, which also owns Absolut Vodka and Martell, said Irish whiskey had expanded in the US alongside a revival of Bourbon, which offset weak demand for Cognac and Scotch in China.

DOORS OPEN

John Lewis has opened the doors to its newest department store in Leeds as part of Hammerson’s £150m Victoria Gate Development. The 255,000 sq ft flagship has created 550 jobs and is one of the largest John Lewis shops outside of London. It cost £37m.

RAIL SALE

Glencore, the world’s biggest commodity trader, has sold its coal haulage unit in Australia for £713m in a bid to cut its debt pile in half. It said the sale of GRail to US railroad operator Genesee & Wyoming formed a ‘significant part’ of a plan to weather a downturn in commodities. Shares fell 0.7pc, or 1.73p to 237.05p.

MOBILE BATTLE

Sky is launching its mobile phone offensive in the new year as it looks to compete against BT in the media and telecoms market. The Game of Thrones broadcaster will offer Sky Mobile to existing customers at the end of the month before the wider market early in 2017.

SHIPPED OUT

Shipping interruptions have driven global miner Rio Tinto to cut its guidance for iron ore shipments by as much as 5m tonnes. It said third-quarter shipments from Australia fell 2pc from the previous quarter to 80.9m tonnes.