THE DAILY BRIEFING

ETHICAL SWITCH Investor BMO Asset Management is ditching £20m of shares in fossil fuel firms due to their environmental impact following pressure from the archbishop of Canterbury, who is president of its responsible investment council.

ASIAN DEAL Software provider Fusionex has signed a multi-millionpound contract with a major asian lender for its soon-to-be launched Giant 2017 big data platform.

PASSED AWAY Peppa Pig maker Entertainment One said board director and former Canadian minister ron atkey has died aged 75.

SNAP RESULT Shares in Snapchat soared 8pc in early trading yesterday, recovering some losses after its bruising maiden results last week.

STAFF PLAN Tesco and John Lewis are joining a scheme run by flexible work group Timewise to boost career progression for part-time staff.

MINE DEATH Work restarted yesterday at Caledonia Mining’s Blanket Mine in Zimbabwe after a worker was killed on Friday.

BID OVER Virgin Money has reportedly abandoned a takeover of Co-op Bank after it hired advisers to work on debt restructuring.

NO CONCERNS Lithium developer Bacanora Minerals says its 50pc stake in a German project is unaffected by the bankruptcy of its partner Solar World aG.

INDIAN PROFIT Miner Vedanta Resources’ Indian unit has swung into a net profit of £360m in the fourth quarter to March 31, compared with a loss of £2.5bn a year earlier.

FAMILY FIRM Chris Dee, the only non-family member to have run upmarket grocer Booths, is leaving – putting it back into family hands.

JOB LOST Mark anderson, marketing director of technology firm Ultra Electronics, has been made redundant in a restructure. BANK UP Business lender Hampshire Trust Bank made £4.4m profit last year, up from a £3.1m loss in 2015.

NEW ROLE City grandee Paul Manduca has been named chairman of peer-to-peer lender Ratesetter.

ON BOARD explorer Tullow Oil executive angus McCoss has joined Providence Resources’ board.

BROKER BOLSTERED Profits at broker Nex Group climbed 4pc to £114m in the year to april.