THE DAILY BRIEFING

POWER SLUMP Energy supplier EDF reported a 33pc fall in earnings in the UK despite hiking gas and electricity prices. The French firm said underlying earnings tumbled to £889m last year. SALES BOOST French food group Danone reported rising sales, up 2.5pc to £21.9bn in 2017, edging above expectations. Profits surged from £657m to £2.3bn. WINE ROW Winemakers Treasury Wine Estates has launched legal action against companies in Australia and China accusing them of producing ‘copycat’ versions of the Penfolds brand.

STORM CLAIMS A surge in worldwide natural catastrophes pushed up claims costs at German insurer Allianz by 57pc to £1bn last year, although profits climbed 0.4pc to £9.9bn. AGENTS BLITZ Property website On The Market has signed up 81 estate agents in a publicity blitz after its faltering start on the AIM junior stock market.

BUYOUT BLOCKED US competition authorities have blocked a takeover of the Chicago Stock

Exchange by Chinese-backed investor North America Casin Holdings after national security concerns were raised by politicians.

CUSTOMER PROBE Energy watchdog Ofgem has launched an investigation into Nottinghambased gas and electricity supplier

Iresa over its treatment of customers during their complaints process.

BIG IDEA Ex-Centrica boss Sam Laidlaw says he wants to build his oil and gas explorer Neptune Energy into the next BG Group.