The 300,000 investors of Neil Woodford’s flagship Equity Income fund could face losses of up to 60pc as money in the defunct portfolio starts being returned to the manager’s former backers. Link Fund Solutions, the fund’s administrator, said it would start returning money generated from selling down 74pc of the fund’s £2.9bn in assets this week.
Addison Lee’s banks have struck a deal to take control of Europe’s biggest minicab firm. Lenders have agreed to inject £45m of new cash into the debt-laden business, according to sources.
Ryanair Holdings (RYA) has warned pilots it could cut jobs and close bases after the delivery date of its first 10 Boeing 737 Max jets was pushed back to at least the autumn.
BT Group (BT.A) has scrapped its remaining overseas call centres in a move that will see all issues raised by British and Irish customers dealt with by local support services for the first time in nearly two decades.
The owner of struggling John Lewis and Waitrose will stop publishing weekly updates on how many goods it has sold as it inches closer to bringing the two businesses together.
Airbus has agreed to settle bribery and corruption allegations with authorities in the UK, France and the US that have dogged the European airplane manufacturer for years.
