1 The collapse in the pound sparked by Brexit has added £142 a year to the average family’s petrol bill, the AA said. The cost of filling a typical 55-litre tank has averaged £3 higher since last June than it would have done if sterling had not lost 14.6 per cent of its value since the referendum.
2 Rajesh Agrawal, the London official charged with protecting the City of London during Brexit talks has warned ministers that time is running out to stop major companies from relocating staff.
3 Two private equity companies have swooped on Paysafe in the first big attempt to take a British company private since 2010. The surprise £2.9 billion bid for the payments specialist by Blackstone and CVC Capital Partners is likely to stoke fears that other British companies are vulnerable to opportunistic offers.
4 The Financial Conduct Authority has hired 15 lawyers to manage the process of turning European financial legislation into UK law under the great repeal bill.
5 The Gherkin is on the market again, and the smart money is on its next owner coming from Hong Kong. Buyers from the region have bought City offices valued at £2.2 billion in the first six months of the year alone.
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6 Government borrowing swelled by £2 billion last month as higher inflation lifted interest payments on the national debt. The budget deficit was larger than expected in June, surging by 43 per cent in 12 months to £6.85 billion, surpassing City forecasts.
7 VW, BMW and Daimler have secretly colluded on pricing and technology including diesel emissions treatment systems since the 1990s, according to a magazine report that sent shares in the car groups down sharply yesterday. Der Spiegel magazine reported that VW had admitted to possible anti-competitive behaviour in a letter that it sent to cartel authorities.
8 An export ban in Tanzania has hit revenues at Acacia Mining, as it emerged that two of the company’s staff had been questioned by authorities in the country.
9 Jeff Immelt did not exactly leave General Electric in a blaze of glory. In his last quarterly results the outgoing chief executive had to report a near-60 per cent slump in quarterly profits and indicated that a finance review would take longer than expected.
10 The surging popularity of watching videos and television shows on mobile phones has helped to produce higher profits than had been expected at Vodafone. It benefited from a 63 per cent rise in data use over the past year, boosting profits, particularly from its businesses in Spain, Italy, Turkey and South Africa.