Houses and industrial estate evacuated due to Ocado Group (OCDO) warehouse fire. Firefighters fear explosion at Andover facility as retailer faces weeks of disruption. A Hampshire industrial estate and nearby homes are being evacuated because of the risk of poisoning or explosion after a major fire at an Ocado warehouse. As smoke continued to billow from the site in Andover on Wednesday evening, more than 36 hours after the incident began, the fire spread to a new part of the building and firefighters evacuated properties up to a mile away. A rest centre has been set up at Harrow Way community school two miles away. “We have a risk of a toxic release or a large cylinder explosion,” said the deputy chief fire officer of Hampshire fire and rescue service, Andy Bowers. “There is a phased evacuation of Walworth industrial estate taking place as a precaution and a rest centre has been set up. “We are working extremely closely with all of our partners to keep the public safe.”
RBS sued by Newham council over the terms of £150m in loans. East London authority files high court claim over lender option borrower option loans. Newham council is suing Royal Bank of Scotland Group (RBS) over the terms of about £150m in complex bank loans, making it the latest UK bank to face a lawsuit over lending terms that critics say piled undue pressure on local services. The east London authority filed a high court claim against RBS earlier this week, the Guardian can report. The claim centres on terms of its lender option borrower option loans, known as Lobos, which proved popular with local councils in the early 2000s. One of the main attractions were the Lobos’ teaser interest rates that kept costs low in the short term but later proved expensive as austerity and spending cuts took hold. Lobos have attracted criticism by campaigners and the shadow chancellor, John McDonnell, who has called for a government investigation and action to restore any historic losses to the public purse.
Troubled government contractor Interserve (IRV) agrees rescue deal. Company, which has 45,000 employees in UK, hopes to avoid Carillion-style collapse. Shareholders in Interserve face a near-wipeout after the embattled outsourcing firm agreed a rescue deal with creditors that saves the firm from becoming the next Carillion. The company, which employs 45,000 people in the UK and is heavily reliant on government contracts, said the deal would help it reduce its debts from more than £600m to £275m in return for new shares in the firm. However, the rescue deal depends on shareholder approval, which is not clear-cut. The company said that while it is aiming to gain backing for the plan from investors, it is also “actively preparing” alternative plans, should shareholders fail to support the deal. Interserve revealed in a separate announcement that its largest shareholder, Coltrane Master Fund, is seeking to oust eight of the company’s directors, which amounts to the entire board with the exception of the chief executive. The hedge fund said it continued to support White.
