THE DAILY BRIEFING
STEP DOWN Chris Holt, 67, is stepping down as a non-executive director of engineer Severfield.
DEBT DEAL Shareholders in chemical maker Synthomer have agreed to raise the amount it can borrow from £500m to £750m.
FOUNDER HIRED Online card shop Moonpig has hired the cofounder of fashion website Finery as its managing director. Nickyl Raithatha will join the company on July 2.
NOODLE NEWS UK-owned sushi and noodle restaurant chain Itsu has opened its first store in the US, in New York.
SMART MOVE High Street staple Marks & Spencer has signed a contract with Microsoft to improve its online shopping experience by using artificial intelligence.
LISTING OFF Cable-laying firm Cityfibre has been de-listed from the London Stock Exchange after its takeover by a Goldman Sachs-led consortium was approved by a court. DOUBLE DATE The parent company of dating app Tinder, Match Group, has bought rival Hinge. GREEK RELIEF Eurozone finance ministers are expected to give Greece debt relief. It will be allowed to make very small repayments on the £200bn it owes until 2030.
DIRECTOR BARRED The former finance director of failed auditor
RSM Tennon has been fined £57,000 and banned from the profession for five years. Russell McBernie was barred by the Financial Reporting Council, which said he had admitted serious misconduct when preparing his business’s accounts. McBernie, 45, was also ordered to pay £825,000 towards the investigation’s costs.
JOBS AXED Around 60 jobs are to be cut at M&S Bank, with all branch and regional managers set to go. RIVAL LAUNCH Social network Instagram has launched a new app, IGTV, for sharing long videos, in a major challenge to rival YouTube.
TECH PROTEST Rebel Google employees dubbed the ‘Group of Nine’ forced the company to ditch plans to make software for the US military, after they protested against developing technology necessary to win defence contracts.
BATTLE LOST Retailer Sports Direct has lost its battle against former MP Iain Wright. Parliamentary authorities refused to investigate claims that Wright damaged the retailer’s share price and triggered assaults on staff following his investigation into its working conditions.