Finance

1066
Boss of South West Water’s owner gains £300,000 pay rise
Pay rise for Pennon Group CEO Susan Davy comes despite outrage over Devon diarrhoea outbreak caused by polluted water
944
Analysis shows UK unemployment is increasing faster than in any other OECD country
TUC says only Costa Rica had similar increase in first quarter as ONS data expected to show further rise in April
1007
First King Charles bank notes enter circulation today
The bank notes will initially be released via a small number of Post Offices
1042
Microsoft to pay off cloud industry group to end EU antitrust complaint
Possible deal involves a multimillion-dollar payout to cloud association backed by Amazon.
995
A (not so) brief ‘criminal’ history of the ECB
From political witch-hunts and nobbling bank mergers to hacking Covid regulations, the ECB’s brushes with the law are varied and plentiful.
1051
Royal Mail owner agrees to £3.6bn takeover by ’Czech Sphinx’ Daniel Kretinsky
The company’s parent firm said its branding and UK headquarters would remain in place as part of the deal, along with its universal service obligation to "one-price-goes-anywhere" first class post six days a week.
962
Tens of millions spent ahead of new EU fingerprint travel rules
Preparations are under way at major Channel crossing points for a new automated European Union (EU) border IT system due to start this October, despite fears of queue chaos for holidaymakers.
716
Morrisons workers go on strike at two warehouses amidst a pensions row
Unite union says workers are being ‘fleeced’ by supermarket’s changes to pension contribution rules
944
Disney’s Pixar Animation to lay off about 14% of workforce
Pixar Animation Studios, which produced such classic films as "Toy Story" and "Up," began laying off about 14% of its workforce Tuesday as it scales back development of original streaming series, according to a source familiar with the development.
1033
New evidence supports allegations that the Adani Group overcharged for coal
On January 9, 2014, the bulk carrier MV Kalliopi L docked at Ennore port in Chennai, the southern Indian city in Tamil Nadu, after a two-week voyage from Indonesia.
621
UK inflation falls by less than expected to 2.3%, reducing chance of June rate cut
Drop in April is smaller than forecast but level is still lowest in almost three years
758
Brexit border checks will cost UK firms £470m annually, says watchdog
‘More than three years after end of transition period, it is still not clear when full controls will be in place’
917
Royal Mail is inclined to accept a £3.5bn takeover bid from Czech billionaire Daniel Kretinsky
Under the new offer, Royal Mail shares are 73% more valuable than before news of a possible takeover broke.
852
Tech company Raspberry Pi is preparing to launch its initial public offering on the London stock market
Cambridge-based business could be valued at up to £500m and is boost for UK after some companies switched listings
885
Brexit-related IT issues are causing delays of up to 20 hours in importing perishable items to the UK
Lorries carrying meat, cheese and cut flowers held up by new checks, with retailers rejecting some orders
845
Anglo American to divest iconic diamond business De Beers in breakup strategy
UK mining company reveals breakup plan in bid to avoid takeover by Australia-based BHP
590
UK economy emerges strongly from recession
The 0.6 percent growth was stronger than analysts had expected.
772
Brussels accuses Britain of being overly environmentally conscious in Brexit eel dispute
Snakey fish fight is center stage as U.K.’s new environmental measures rub the EU the wrong way.
630
Bank of England leaves key interest rate at 5.25 percent
Governor Andrew Bailey opens the door to a first rate cut in June, but warns it’s “not a fait accompli”.
638
TSB announces closure of 36 branches and plans to cut hundreds of jobs in full list of closures
Trade union Unite says the decision by the UK high street lender is a "grave mistake" and customers would "undoubtedly suffer a downgrade in service from these job cuts".
645
Britain’s audit watchdog issues $11.9 mln fines for LCF failures
Britain’s Financial Reporting Council has fined three audit firms including PWC and EY about 9.5 million pounds ($12 million) in aggregate for failures in their handling of London Capital & Finance (LCF)...
736
Chinese network behind one of world’s ‘largest online scams’
Vast web of fake shops touting designer brands took money and personal details from 800,000 people in Europe and US, data suggests
917
Berkshire Hathaway’s operating earnings surge by 39% amid Buffett’s record $188 billion cash reserves
Berkshire Hathaway reported Saturday a huge year-over-year increase in operating earnings in the first quarter, while its cash holdings bubbled to record levels.
794
Brexit aftermath leads to UK farmers losing faith amid looming food security concerns
A combination of 18 months of bad weather, Brexit and other international events have left confidence in British farming at an all-time low, the National Farmers Union (NFU) has revealed.
629
Chaos from new Brexit border checks masked by bank holiday weekend, causing delays and red tape for businesses
The director general of Britain’s leading trade body has described Tory ministers as “smart” for using the bank holiday weekend to mask the impact of a new Brexit borders checks system, which is set to add delays, red tape and costs to many imports.