Legal & General has become the UK's first £1 trillion investment manager following a spate of infrastructure deals last year.

The group said alongside its annual results that money pumped into infrastructure, clean energy, commercial real estate and residential property across British cities by its investment arm and an increase in international assets helped it reach the landmark figure.

Legal & General Investment Management saw assets under management rise three per cent to £1.02 trillion.

Boss Nigel Wilson flagged the negative impact political uncertainty was having on asset prices, but nevertheless said L&G performed strongly.

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He said: "2018 saw political uncertainty, asset market declines and slowing economic growth, but we are resilient and performed strongly.

"We became the UK's first £1 trillion investment manager, executed a record £9 billion of pension risk transfer deals and invested billions in the UK's future infrastructure and cities."

Full-year figures showed that the FTSE 100 company saw operating profit rise 10% to £1.9bn in 2018.

The Herald: Just Eat was one of the biggest fallers on the FTSE 100

Just Eat has reported a jump in annual revenue and profit as the online food firm targets £1 billion in sales this year.

The group saw revenue grow 43 per cent in 2018 to £779.5 million, boosted by strong growth in the UK and Canada.

Underlying earnings rose 6% to £173.9m in the year to December 31, while pre-tax profits came in at £101.7m, compared with a £76m loss in 2017.

UK orders were up 17% and sales increased by 27%, aided by the successful integration of HungryHouse.

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In Canada, where it operates SkipTheDishes, revenue soared 186% at constant currency with the launch of multilingual capabilities.

Interim boss Peter Duffy said: "We have a clear plan for the year ahead as our highly experienced team works hard to accelerate the execution of our strategy and we remain focused on long-term returns for shareholders."

The Herald: The new Paddy Power bookmakers in North Street, Taunton.

Gambling giant Paddy Power Betfair has unveiled plans to change its group name as it posted an 11% fall in annual profits after ramping up investment in its fledgling US sports betting business.

The firm said it would be seeking shareholder approval at its annual general meeting (AGM) in May for a change to Flutter Entertainment to reflect its "increasing diversity", although it stressed this would not affect consumer brands.

Details of the proposal came as Paddy Power reported pre-tax profits of £219 million for 2018, down from £247m in 2017.

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Paddy Power Betfair chief executive Peter Jackson said: "With a growing portfolio of brands, we plan to rename the group as Flutter Entertainment plc.

"There are no plans to use this historical name for consumers, and we will seek shareholders' permission for the change at our forthcoming AGM."

The group insisted the new £2 stake limit for controversial fixed-odds betting terminals (FOBTs), which comes into effect on April 1 2019, will not have a material impact on its sports-led retail strategy.