DAILY BRIEFING: Renewi quits loss-making contract

City & Finance Reporter for the Daily Mail

WASTE NOT Waste management firm Renewi is quitting a loss-making contract in Dumfries and Galloway and Buckinghamshire, writing off £73million on those and other contracts.

PLANE CHOICE Boeing’s 787 Dreamliner is Hawaiian Airlines’ pick as its flagship plane for medium to long-haul flights. The airline is buying ten, worth up to £2billion.

FLOAT SECRET Saudi Arabia will keep the world guessing until the end of the year over plans for a £1.5 trillion float of state oil firm Aramco, insiders say. 

Officials still have not decided where to list the business, with London and New York the top candidates.

FUND LAUNCH Travis Kalanick, who was ousted as boss of Uber amid a sexism storm at the taxi firm, is launching a fund called 10100 to back real estate and start-ups in China and India.

SHARE SHOW A £1billion share buyback programme was started by Lloyds this week, running until February next year.

LEGAL BATTLE Victims of an alleged £50million Ponzi scheme operated by currency trading firm CWM FX, which was raided by police in 2015, are being urged by solicitors FS Legal to join legal action.

DEALS DONE Deal-making activity by insurers climbed in the second half of 2017 for the first time in two years, according to law firm Clyde & Co.

FIRM FAILS Farming supplies retailer Countrywide Farmers has fallen into administration, putting 735 jobs at risk.

FOOD FLOP Restaurant group Fulham Shore, which owns The Real Greek, warned that full-year earnings are likely to come in below expectations when it posts results in July.

NEW LISTING Administration services firm JTC will list on the London Stock Exchange on Wednesday, valued at £310millio.

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