3 d. ago Thames Water: big bonuses due from emergency £3bn loan ‘withdrawn’

Environment secretary makes announcement after company’s chair said he ‘may have misspoken’ to MPsLarge bonuses due to be paid to Thames Water executives from an emergency £3bn loan have been “withdrawn”, the environment secretary, Steve Reed, said, after the Guardian revealed the chair of the company wrongly told parliament creditors had “insisted” on the payments.Reed told the environment, food and rural affairs (Efra) committee on Tuesday that the retention payment plan had been withdrawn by Thames Water. He said: “I am very happy indeed that Thames have now dropped those proposals. It was the wrong thing to do. They have now withdrawn their proposal to make those payments.” Continue reading...

Economics

3 d. ago ‘No downside’ for fishing industry in EU deal, insists Environment Secretary

Steve Reed defended the trade agreement as a ‘reasonably good deal’ for the sector.

Economics

3 d. ago Thames Water chair says he ‘may have misspoken’ to MPs over bonuses

Sir Adrian Montague told select committee paying bonuses out of emergency £3bn loan was insisted upon by creditorsBusiness live – latest updatesThe chair of Thames Water has admitted he may have “misspoken” when he told a parliamentary committee that large bonuses to be paid to senior bosses out of an emergency £3bn loan were insisted upon by creditors.Sir Adrian Montague told the environment, food and rural affairs (Efra) select committee last week that the lenders “insisted” that “very substantial” bonuses of up to 50% of salary should be paid to company executives from the controversial loan in order to retain key staff. The proposed bonuses provoked fury as the company has said that its finances are “hair raising” and that it had come “very close to running out of money entirely” last year. Continue reading...

Politics

3 d. ago Minister risks wrath of fishing industry as he claims there is 'no downside' to Brexit 'reset'

Environment Secretary Steve Reed mounted a robust defence of the package as he appeared before MPs, despite fury at the 'disastrous' terms.

Politics

3 d. ago Thames Water chair could face questions after comments to MPs on bonuses

Exclusive: Sir Adrian Montague told select committee paying bonuses out of emergency £3bn loan was insisted upon by creditorsThe chair of Thames Water could face more questions over his statement to parliament that large bonuses to be paid to senior bosses out of an emergency £3bn loan were “insisted” upon by creditors.Sir Adrian Montague told the environment, food and rural affairs (Efra) select committee last week that the lenders “insisted” that “very substantial” bonuses of up to 50% of salary should be paid to company executives from the controversial loan in order to retail key staff. Continue reading...

Politics

1 week ago Trade deal with US could spell end of UK’s bioethanol industry, say bosses

Hundreds of jobs may be at risk as Starmer agrees to remove tariffs on US ethanol, say heads of ABF Sugar and EnsusBusiness live – latest updatesThe British bioethanol industry could collapse as a result of Keir Starmer’s trade deal with Donald Trump, industry bosses have said.The bosses of ABF Sugar and Ensus, the companies behind almost all of the UK’s production capacity of bioethanol – a petrol substitute produced from agricultural products – have said hundreds of jobs in north-east England and Yorkshire could be at risk as a result of the deal. Continue reading...

Economics

2 w. ago Donald Trump trade agreement with UK a 'great deal' for Scotland that will 'create jobs'

The Scotch whisky industry said the deal represented "welcome progress" to reduce tariffs on exports to the US.

Politics

2 w. ago Starmer's trade deal with the US 'only covers a quarter of UK exports' as huge pharma sector is left in limbo

The pact theatrically announced by the PM and US president last night will cut tariffs from 25 per cent to 10 per cent for the first 100,000 cars sent to America.

Economics

2 w. ago Trump does Sean Connery impression while discussing future of James Bond in US

Donald Trump attempted an impression of Sean Connery while discussing the impact of US tariffs on the UK film industry following the announcement of a UK-US trade deal on Thursday, 8 May.

Politics

2 w. ago Trump’s film tariffs could ‘wipe out UK industry’, Starmer warned

Ministers warned they need to step up to save the UK’s status as ‘the Hollywood of Europe’ from Trump’s tariffs

Events

2 w. ago Overturning Trump film industry tariffs must be UK trade deal priority, Starmer warned

The chair of a powerful Commons committee has joined unions in warning that ministers need to step up to save the UK’s status as ‘the Hollywood of Europe’ from Trump’s 100 per cent tariffs

Events

2 w. ago Fears of UK film industry jobs bloodbath: Tens of thousands of freelancers could be out of work if Donald Trump applies 100% tariff on non

UK industry figures have warned the plans 'could deal a knock-out blow' to the UK film sector.

Politics

2 w. ago Trump’s 100% film tariffs to send ‘shock waves’ through global industry – US politics live

US president announces move, citing ‘national security threat’ to US film sectorMeanwhile, Germany has said it “strongly rejects” criticism by US Secretary of State Marco Rubio of its domestic spy agency’s decision to label the far-right AfD party as an extremist group.“I reiterate that the insinuations contained (in his comments) are certainly unfounded,” foreign ministry spokesman Sebastian Fischer said.This is democracy. This decision is the result of a thorough & independent investigation to protect our Constitution & the rule of law. It is independent courts that will have the final say. We have learnt from our history that rightwing extremism needs to be stopped.”The UK is a world leader in film and TV production, employing thousands of talented workers, and this is a key growth sector in the government’s industrial strategy,” she said.“These tariffs, coming after Covid and the recent slowdown, could deal a knock-out blow to an industry that is only just recovering and...

Politics