DAILY BRIEFING: Savers flock to hedge fund Man Group amid rising markets in the first six months of the year
Savers have ploughed a record £6.3bn into hedge fund Man Group
RECORD INVESTMENT Savers ploughed a record £6.3billion into hedge fund Man Group in the first six months of 2018. Profits rose 18.4 per cent to £68.6million thanks to higher fees.
FORMICA OFF Investment firm Janus Henderson Group joint boss Andrew Formica is leaving with a £9.1million pay-off, leaving Dick Weil in sole control.
CURRENCY CRACKDOWN The City watchdog, the Financial Conduct Authority, has pledged to crack down on currency transfer firms which advertise much better exchange rates than they actually offer customers.
CREDIT MOAN Four in ten firms say getting new credit is unaffordable, according to a survey by the Federation of Small Businesses.
REVENUE RISE Revenues at Irn-Bru maker AG Barr climbed 5 per cent to around £136million in the 26 weeks to July 28.
FASHION BOSS Womenswear chain Jigsaw has appointed Chris Stephenson as chief executive.
SCHOOL RANGE Discount chain Poundland has launched a back-to -school collection, in an attempt to rival Marks & Spencer which is to shut 100 stores.
SANCTIONS DEADLINE The US treasury has given Russian aluminium firm EN+ until October to try to avert sanctions before they come into force.
NEW DEAL Support services and construction group Interserve has won a £67million, five-year contract to provide engineering, cleaning landscaping, helpdesk and other services at more than 450 Foreign and Commonwealth Office buildings.
COAL SALE Miner Anglo-American has sold its New Largo thermal coal project and Old New Largo colliery in South Africa for £59million.
APPLE BEATEN Chinese telecoms giant Huawei sold more smartphones than US rival Apple in the second quarter of 2018, it says. It shipped 54.2m units.
GOOGLE LAUNCH Tech giant Google is to launch a censored version of its search engine in China, after ditching the country in 2010.
WONKY CASH A tiny grocery delivery start-up, Oddbox, which sells wonky fruit and vegetables from British farms has raised half a million pounds to fund expansion.