THE DAILY BRIEFING

LOAN CLOSURE

The Help to Buy mortgage guarantee scheme, which is to finish tomorrow, supported 95,000 mortgages since it began in October 2013, according to official figures to the end of September.

The scheme helped people with deposits as low as 5pc to purchase a property, but the Government said it was no longer needed as more lenders were offering low-deposit mortgages.

SHOPPING SPREE

Singapore’s sovereign wealth fund has splashed out £48.5m on acquiring a 50pc stake in the newly opened Watermark leisure complex in Southampton.

GIC purchased the stake from shopping centre owner Hammerson. The scheme is part the Hammerson-led WestQuay shopping complex that will provide an annual income of £5.5m when fully leased.

POWERED UP

Shares at crisis-hit Toshiba have staged a mini-comeback after three days of losses, closing up 9.4pc in Tokyo.

The Japanese company had nearly 40pc wiped off its value following its warning about a multi-billion dollar write-down involving its nuclear energy arm, which triggered fears about its project in the UK.

Toshiba owns a 60pc stake in NuGen, which is building a nuclear power plant in Cumbria.

WATER WAR

A bidding war for a water company serving Wales and the north west continues after one suitor extended the deadline for its offer to be taken up.

Investment fund Ancala Fornia said shareholders now have until January 13 to accept its final offer of 1706p per share for Dee Valley Water, despite a higher offer of 1825p from rival Severn Trent, which has the support of the Dee Valley board.

CHINA REFORMS

The Chinese government is set to ease restrictions on foreign investment in sectors from banking and internet services to rail equipment and motorcycles.

It follows mounting complaints from foreign countries and businesses, and is a bid to level the playing field for foreign companies and boosting investment.