Supermarket giant Sainsbury’s is looking to sell its London headquarters and has told 150 head-office staff that they will be relocated to Coventry and Manchester, reports The Independent. The group has also said it plans to close its final-salary pension scheme.
According to the Financial Times, if BP is found to be guilty of gross negligence or wilful misconduct at a liability trial for damages and penalties over the 2010 Deepwater Horizon disaster, it would raise the maximum possible penalty it faces under the Clean Water Act from $4.5bn to $17.6bn. The first phase of the trial ended on Wednesday with BP concluding that it had not acted with gross negligence.
Apple is no longer the world’s most valuable company after shares fell almost 6.0% last night on reports that it would ship fewer iPhones and not produce a new iPad model this summer, writes The Times. The paper says the catalyst for yesterday’s slump was a gloomy outlook from audio-chip supplier Cirrus Logic.
Heathrow, Gatwick and Stansted are facing the largest regulatory shake-up in decades as the Civil Aviation Authority looks set to introduce different pricing regimes at each airport, writes The Telegraph.
Some 22% of investors have rebelled against a £2.8m pay packet for the Chief Executive Officer of oilfield services group Hunting, Dennis Procter, according to The Guardian, making it one of the biggest pay revolts of the year.
The minutes of the Bank of England’s (BoE) Monetary Policy Committee meeting suggested that the BoE and the Treasury could be looking to extend the £80bn Funding for Lending Scheme. The parties “saw merit” in boosting the scheme to raise lending further.