THE DAILY BRIEFING

HOTEL BOOST Budget hotel chain Travelodge wants to team up with 210 local authorities as part of a local regeneration scheme.

The group is ramping up an initiative which sees it develop hotels on disused local authority land in a move the firm claims will help regenerate local town centres by drawing in visitors, creating jobs and boosting the local economy.

MEAT FREE Ramping up its vegan menu helped boost sales for Zizzi. The Italian restaurant chain said sales of vegan dishes have risen by 246pc since 2016.

BOSS SEARCH Partners at management consultancy McKinsey have gathered at London’s exclusive Grosvenor House Hotel to begin the search for their a global managing director to replace Dominic Barton.

EARNINGS LIFT French bank BNP Paribas made a £2.6bn profit in the three months to September 30 – up 6.9pc from a year earlier, but revenues were down 1.8pc to £9.2bn, partly because of a slump in trading activity due to calmer markets and partly because of a hit from currency movements.

OIL HOPE UK-focused oil and gas explorer Egdon Resource says it is ‘optimistic’ about winning an appeal to develop an oil field in North Lincolnshire.

STILL GUSHING Up to 20m barrels of oil can still be recovered from the North Sea, the industry regulator believes. The Oil and

Gas Authority believes there is enough to sustain at least some production in the dwindling basin for the next two decades.

DAMAGES DEAL Miners BHP Billiton and Vale have been granted an extension until November 16 to settle a £35.59bn claim from Brazilian prosecutors for damages over the Samarco mine disaster in 2015 in which 19 people died and nearby towns were flooded after a dam designed to hold back mine waste burst.

LISTING LOSS Commodities trader Glencore is withdrawing its listing from Hong Kong, citing lack of demand. Since its May 2011 listing there, only 0.3pc of its share register were for Hong Kong-listed shares.

STEEL ROLE Port Talbot steelworks owner Tata Steel has promoted managing director TV Narendran to global chief executive and managing director.