1 Train bosses have accused the government of delaying vital upgrades on the east coast main line between London and Scotland by up to four years. Virgin Trains East Coast insisted that plans to fully operate a new fleet of high-speed trains on the route by 2019 were “no longer deliverable”.
2 Apple shipped fewer iPhone X handsets than expected last year, according to estimates, adding to speculation that it could phase out the smartphone model before the end of the year. Apple is said to have sent out 29 million iPhone Xs in the final quarter of 2017, below expectations of 30 million to 35 million.
3 The accountant chosen by Barclays to rule on its controversial ringfencing plan and the effect on 200,000 pension fund members had been in charge previously of the team advising Dominic Chappell, a former bankrupt, on buying BHS for £1.
4 In the opening address at the World Economic Forum in Davos, Narendra Modi, India’s prime minister, warned that globalisation was under attack, making it harder for countries to deal with international threats such as climate change and terrorism.
5 The proposed takeover of Sky by 21st Century Fox edged closer after a watchdog said that the deal raised concerns about media plurality, but added that they could be assuaged. The Competition and Markets Authority said in its provisional ruling that the merger was not in the public interest. Page 42
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6 Sainsbury’s became the second grocery chain in 24 hours to launch a restructuring. Workers will be able to apply for new posts, more junior positions or redundancy. The overall number of employees would not decline, it said.
7 The chancellor appears to be on track to meet his borrowing targets after the national budget deficit narrowed by much more than expected in December, helped by an unusually large rebate from the EU. The deficit was £2.6 billion, compared with £5.1 billion a year ago.
8 Thousands of clients of IG Group have asked to be reclassified as professional investors to sidestep a potential crackdown on spread betting and high-risk options by European regulators.
9 Easyjet has raised its fares by more than 8 per cent, despite lower fuel costs, as it takes advantage of the failures of Monarch Airlines, Alitalia and Air Berlin and troubles at Ryanair. Analysts predict that pre-tax profits for the year may rise to as high as £500 million.
10 Carillion’s collapse has shown the “toothlessness” of attempts to tackle Britain’s “late payment epidemic”, business groups have claimed. The construction group’s debts to suppliers run into billions of pounds.