The Chairman of Lloyds since September 2009, Sir Win Bischoff, is expected to announce his resignation ahead of Thursday’s shareholder meeting as the bank readies for privatisation, reports The Guardian.
The disgraced former cabinet minister Chris Huhne and his ex-wife have been freed from prison after serving just 62 days of their respective eight-month sentences for perverting the course of justice. Huhne, 58, and Vicky Pryce, 60, were jailed on 11 March for an offence dating back a decade when Pryce took speeding points for her then husband. The former energy secretary had been serving his sentence at Leyhill prison (Holiday Camp) in Gloucestershire. Pryce, a renowned economist, was in East Sutton Park prison, near Maidstone, Kent. Both are category D open jails. The pair will have to wear electronic tags under the terms of their early release. The BMD website.
The Financial Times says that May 17th is the deadline for a bidding consortium – made of a “trio” of men who founded ENRC and the government of Kazakhstan – to make a firm offer for the remaining 45% stake in the mining company.
The Times reports that British upmarket retailer Waitrose could launch a legal battle against online grocery firm Ocado over its plans to help rival supermarket Morrison develop internet shopping. “The upmarket food retailer is even prepared to walk away from the joint venture if it believes that Ocado will breach its contract by reaching a deal with Wm Morrison,” the paper writes.
According to The Telegraph, The Co-operative Bank could claw back pay and bonuses from its former executives in the aftermath of a surprise downgrade of its credit rating by Moody’s last week.
“Angry pensioners and disabled people will confront British Gas bosses today when the energy giant holds its Annual General Meeting,” opines The Independent. The utility provider, owned by FTSE 100-listed Centrica, is making soaring profits while increasing home energy bills, making it tough for those already struggling to afford to heat their homes, the paper says.
The CBI expects the UK economy to move from “flat to growth” this year, saying that inflation will begin to ease which will boost consumer spending, reports The Scotsman. Exports should also been given a lift by receding uncertainty in the Eurozone and elsewhere.