THE DAILY BRIEFING
RATE RISE Millions of borrowers face another interest rate rise in just seven weeks, after the Bank of England doubled down on its pledge to rein in inflation. The Monetary Policy Committee yesterday decided to hold rates at 0.5pc for now.
BONUS SUSPENDED The former finance chief of troubled defence firm Cobham simon Nicholls, 53, has had a £37,000 bonus suspended amid a probe by regulators. It is being investigated by the Financial Conduct authority over its handling of inside information ahead of a profit warning in 2016. PROFITS DIP suffolk brewer Adnams saw its profits tumble 45pc to £2.2m last year as the firm plunged £9.3m of investment into revitalising the business.
GROWTH SLOWS Growth in the eurozone looks to be cooling amid weaker business confidence and fears over a trade war with the Us.
The single currency bloc grew at 2.5pc last year, its best result for a decade, but industrial and construction output was hit in January, with falls in retail and export figures too.
JOBS GO administrators of collapsed electronics retailer Maplin made a further 66 staff at its head office redundant, with the fate of 2,500 more jobs still uncertain.
EXCHANGE INVESTOR Oliver Hemsley, the retired founder of stockbroker Numis securities, is plotting an investment in Nex
Exchange, a rival to the London stock Exchange’s junior market. CHIEF NAMED Electronics firm Ultra has hired simon Pryce, 55, as chief executive. He was the boss of private jet firm BBa aviation.
ENERGY LOSS Energy price comparison service Utilitywise slipped to a loss of £8.6m following what it described as a difficult year. It made revenue of £67.8m. WASTE TALLY Online grocer Ocado has revealed its food waste figures for the first time, with just 0.02pc of food items wasted a year. GIBRALTAR OPENING Budget fashion and homeware chain Matalan has opened two stores in Gilbraltar with plans to open a further two in Malta this month.
CYBER CASH Consultant Accenture raked in £6.7bn in the three months to February 28 – up 15.2pc on a year earlier – boosted by a rush to invest in cyber-security after hacking attacks.