DAILY BRIEFING: Glencore to boost cobalt production

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COPPER TARGET Mining titan Glencore expects to significantly boost production of cobalt in the Democratic Republic of Congo. 

It expects to produce around 39,000 tons used in electric car batteries, compared to 27,400 tons in 2017.

DECOYS DEAL Defence firm Chemring has won export contracts for infrared decoys with unspecified customers worth a total of £23million, giving its factory at High Post, Salisbury, work up to 2022.

BANKNOTE SALE Banknote maker De La Rue is selling 90 per cent of its paper business to buyout firm Epiris, for £61million.

The business can make around 13,000 tons per year, and will continue to supply to De La Rue for at least the next ten years.

NEW BOSS Posh department store Liberty London has appointed Adil Mehboob-Khan as chief executive. 

He joins from luxury eyewear retailer Luxottica, which he has run since 2014. He has also worked as chief executive of Wella and for Procter & Gamble.

JOBS BONANZA Small and medium-sized businesses sold a record £2.3billion of exports through online giant Amazon last year as firms employed more than 85,000 people in the UK to run sales activities on Amazon Marketplace.

GENDER PAY Simple Be owner N Brown has revealed a 5 per cent gender pay gap compared to the UK average of 18 per cent. 

Six in ten employees are women, with females forming 82 per cent of all part-time workers.

ACTIVITY DIP Activity among British manufacturers has slowed. Markit said its index of activity in the sector, where scores above 50 show growth, dipped from 56.2 in December to 55.3 in January.

HOUSING RECORD House prices hit a record high last month, defying fears that the market has run out of steam. 

Mortgage lender Nationwide said prices rose 0.6 per cent to £211,756, up 3.2 per cent on a year earlier.

SHARE OFFER Diamond miner Newfield Resources, which has projects in Sierra Leone and Australia, has made a possible all-share offer for Aim-listed Stellar Diamonds. 

It depends on Newfield underwriting a £21million rights issue.

SALARIES RISE Salaries on offer to new recruits in the UK have reached a 19-month high. Jobs website Adzuna said the average was £32,940, the highest since May 2016.

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