DAILY BRIEFING: Domino’s takes 75% of franchise business

PIZZA PARTNERS A partnership between Domino’s Pizza and its London franchise business has been sealed with it taking a 75 per cent stake in a new company.

It will pay £24million for the stake in the firm, which will consist of 25 existing Domino’s stores.

FINANCE ROLE The owner of Garfunkel’s and Frankie and Benny’s, Restaurant Group, has a new finance chief – Kirk Davis who joins from Greene King.

VENEZUELA VITO Traders at Credit Suisse have been banned from dealing in Venezuelan bonds due to a brutal crackdown by the country’s socialist government.

BANKS RANKED First Direct, Nationwide Building Society and the Co-op have topped a current account service satisfaction survey, while RBS has taken bottom place in the MoneySavingExpert.com study.

POWER LOSSES Energy supplier Npower lost about 120,000 customers over the year amid price increases on domestic tariffs.

The German-owned firm made a loss of £11million compared to a £67million profit in the first half of last year.

EXPORT BOOST Demand abroad for UK-built vans, trucks, buses and coaches soared 11.6 per cent during the first half of the year, with almost all headed to the EU.

INVESTOR WINDFALL Financial services investor City of London Group is buying equity release company Milton Homes for £20.2million.

The deal will see Milton investors pocket £13.2million in shares and £7million in cash.

HOMES BOUGHT Social housing firm Civitas has bought 21 homes, housing 183 tenants with disabilities, in the southwest for £22.9million.

PAIR POACHED Asset manager Liontrust has poached two veteran bond managers, David Roberts and Phil Milburn, from rival Kames Capital to launch three fixed-income funds next year.


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