Heathrow ‘responded well’ to power outage, review finds; Ofwat fines Thames Water £123m – business live

‘The evidence confirms that Heathrow made the right decisions in exceptionally difficult circumstances,’ Ruth Kelly finds

Shein turns to Hong Kong for flotation as London attempt stalls, reports say

Fast-fashion retailer struggling to gain go-ahead from Chinese regulators for UK listing

Thousands of Britons to receive compensation for prepayment meter force-fittings

There will also be debt write-offs on energy bills after Ofgem found eight suppliers fell short of its standards

‘Blur were so obnoxious!’: 35 years of epic gigs at Glasgow’s King Tut’s, from Oasis to Lewis Capaldi

It’s where Oasis were discovered – and where Radiohead only ever drew 150 people. Insiders and regulars like KT Tunstall explain why the live music venue is so loved by audience and artists

Elon Musk says Trump tax bill weakens Doge cost-cutting efforts

Remarks may widen rift between US president and Tesla boss as Musk appears to criticise Trump’s One Beautiful Bill Act

Thames Water hit with record fine over sewage breaches

As Ofwat imposes two fines totalling £123m, environment secretary says ‘era of profiting from failure is over’

UK grocery inflation jumps to highest level in 15 months

Increase of 4.1% in past month driven by rising cost of chocolate, butter and sun cream, says Kantar

Environmentalists condemn ‘devastating’ move to open nine new gas exploration areas in Queensland

Campaigners and conservationists decry decision, saying it will worsen climate crisis, blow out emissions reductions targets and put groundwater at risk

Can trade in soil carbon credits help farmers – and the climate?

Regenerative agriculture has growth potential for the offsets market, but scientists question its green credentials

‘Nonsense and stupid’: Trump’s tariff war will cause global damage, says Grosvenor boss

Policy will eventually right itself, adds Mark Preston, who heads Duke of Westminster’s property group

‘Remote purchase’ fraud in UK surges as customers tricked into disclosing passcodes

Banks say every day 7,000 incidents take place where scammers get people to disclose unique set of numbers

AI tool trial could save equivalent of 1.5m meals in food waste

Nestlé is among UK companies taking part in project to ‘design out’ waste by redistributing surplus product

Trump indicates ‘positive’ progress in US-EU trade talks

Wall Street up in early trading after US president commends bloc for calling to ‘quickly establish meeting dates’

Reeves in standoff with ministers over proposed cuts to public services

IMF suggests chancellor could refine fiscal rules, but some fear policing and social housing face spending cuts

Tesla sales slump across Europe amid backlash against Musk

Registrations for new vehicles in April drop to half 2024 figure despite a broader rise in battery electric cars