1 Mark Carne, the boss of Network Rail, is to receive a £50,000 bonus, taking his overall package to £820,000, despite overseeing a sharp increase in the number of trains cancelled or running late over the past 12 months. The taxpayer-funded company admitted that “significant improvement” was required on train performance.
2 Having done her best to soothe tension between Google and Brussels and then extinguish a series of fires at Uber, Rachel Whetstone, the former Tory adviser, is heading for Facebook, where she will take charge of communications for Instagram, WhatsApp and Facebook Messenger.
3 Glaxosmithkline is selling its Horlicks business in Britain and has scrapped a planned £350 million investment in Cumbria as part of a wide-ranging restructuring of its business in the first significant move since Emma Walmsley took over from Sir Andrew Witty as chief executive of the drugs group.
4 CH2M, the engineering consultant at the heart of a host of Britain’s most important infrastructure projects, is understood to be in advanced negotiations to be taken over by Jacobs, an American rival.
5 Cathryn Ross, the highly regarded head of Ofwat, has quit the water regulator for a better-paid job with BT, plunging the water industry into uncertainty.
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6 Ratesetter, one of Britain’s largest peer-to-peer platforms, has admitted that it had made £36 million of loans using its own capital to Vehicle Trading Group, a sub-prime car financing and used car business, to shield investors from losses and prevent one of the largest ever defaults in a peer-to-peer loan book.
7 Leading business figures will meet the prime minister in an attempt to build bridges between companies and Downing Street as part of preparations for Brexit. Theresa May will chair the first in a series of regular meetings at Downing Street this afternoon that will focus on leaving the European Union and the domestic economic outlook. Page 48
8 Postal workers have reacted angrily to the news that Moya Greene, the £1.8 million-a-year chief executive of Royal Mail, is to take a part-time job as a non-executive director of Easyjet, which will pay her £60,000 a year for only nine days’ work at the airline.
9 Generating less electricity proved to be no bar to Drax making more money from its North Yorkshire power plant, as it started to reap the rewards of a lucrative biomass subsidy.
10 The need for repair work at its production plants in Russia and Canada could not have come at a worse time for Evraz, because its production slumped while it was attempting to recover from the effects of a slide in the global market.