THE DAILY BRIEFING
WEALTH UP British household wealth rose to £10.5trillion last year, according to research by Lloyds Private Banking. This was £892bn higher than in 2015.
PPI PAYOUTS Banks have handed out £27.4bn in PPi compensation since 2011, the Financial
Services Authority has revealed. Lloyds alone has now been forced to pay out £18.1bn. LOCKER ROOM Self-storage firm
Lok’n Store Group is moving into sites in Bedford and Dover. They are scheduled to open next year and will add around 85,000 square feet of trading space.
NUCLEAR POWER Animal feed firm Carr’s Group has bought USbased Nuvision Engineering, which makes technology for the waste and nuclear power industries, for a sum of up to £15.4m.
ELECTRIC BOND Car maker Tesla is to tap the bond market in a bid to raise $1.5bn (£1.2bn) as it ramps up production of the Model 3 sedan, its first mass-market electric vehicle.
CAR SHOW iran has signed its biggest-ever car deal with French manufacturer Renault. The €660m (£596m) agreement will add 150,000 vehicles a year to the iranian market.
RIVAL BUYOUT Software company Netcall has snapped up rival Mats Soft, which supplies firms including Vodafone, for £11.1m in cash and the issue of 3.5m new shares at 5p each.
SUBTITLE RECORD Dubbing firm Zoo Digital has surpassed its milestone of 200m subtitles. The company said it had added 100m more subtitles over the past 16 months, having taken three-and-a-half years to reach its first 100m. CONTRACT WIN British cyber security firm Digital Barriers has won a contract worth more than £9m with an unnamed US law enforcement agency.
AMERICAN SWOOP A UK tech company that works with Government departments has been snapped up. Revitalise was purchased by US health firm Maximus, which said it sought the business’s online learning platform.
BROADCAST JOB An honorary consul for the republic of Lithuania has been appointed non-executive director at TV broadcaster Cellcast.
Samuel Malin, who is the founder and former boss of Madagascar Oil in Africa, will also sit on the company’s audit committee.