BUSINESS LIVE: Compass forecasts strong growth; MusicMagpie up for sale; LSE appoints new finance boss

The boss of Fortnum & Mason this weekend gave a stark warning to the Government to scrap the tourist tax in Wednesday’s Autumn Statement before it is ‘too late’ to prevent losing sales revenues to the French.

Tom Athron, chief executive of the luxury London food store, said: ‘Paris will be a very attractive proposition for visitors next year, as it hosts the Olympics.

Halfords has reportedly been approached over a possible merger with van hire firm Redde Northgate to create a combined group worth of more than £1.3billion.

The two companies held detailed talks about a ‘nil premium’ tie-up – in which neither firm receives a premium to the market value of their shares – according to the Sunday Telegraph.

The Confederation of British Industry (CBI) will today urge Jeremy Hunt to save the UK from ‘low growth and lost opportunities’ as he finalises his Autumn Statement.

It will pile further pressure on the Chancellor to ease the burden on businesses by making permanent a ‘full expensing’ tax break, which rewards investment but is due to expire in 2026.