THE DAILY BRIEFING

LIBOR FINE A rogue trader at Deutsche Bank has been fined £180,000 for rigging Libor lending rates. Guillaume Adolph, 39, badgered colleagues and rival traders into manipulating Libor, used to set prices around the world.

BERMUDA BUY Insurer Axa is buying Bermuda-based XL Group, which specialises in property and casualty claims, for £11bn.

STORE BATTLE Bargain retailer Poundland is to put more of its Pep&Co fashion outlets inside stores as it ramps up competition with rival Primark.

LOSS BLOW Taxi firm Addison Lee fell to a £20.8m loss last year, compared to a profit of £10.5m the year before, after it was stung by costs.

NAME CHANGER Trinity Mirror is to be renamed Reach after its takeover of the Express and Star newspapers. Profits at Trinity grew 7pc to £81.9m for the year but revenue plunged 12.6pc to £623.2m.

BET BOSS Betting group Paddy Power Betfair saw finance director Alex Gersh, 53, announce his exit.

RATE WOE Small businesses face a £355m rise in debt costs if the Bank of England hikes interest rates by 0.25 percentage points in May, claims Hadrian’s Wall Capital.

LAW CHANGE The US Senate is preparing to water down tough banking laws passed after the 2008 financial crisis.

VOTE DELAY A crucial vote that could accelerate a £103bn hostile takeover of chip giant Qualcomm by rival Broadcom has been delayed.

DAY JOB Colin Day, 62, a nonexecutive director at defence firm Meggitt, is joining the board of Euromoney Institutional Investor.

GEM SALE Canada’s Lucara Diamond has completed its purchase of digital diamond sales platform Clara Diamond Solutions.

BEARING UP FTSE 250 manufacturer Fenner has bought the assets and business of US metal bearings maker National Bearings Company for an undisclosed sum.

SCREEN SAVERS Spending on cinema and theatre visits rebounded in February after falling for five consecutive months, said Barclaycard.

MEAL DEAL US supermarket Walmart will start selling prepared meals at 2,000 of its stores by the end of this year.