Press Digest: British Business - May 1

Whitbread

01/05/2026 04:54

May 1 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

The directors of Edinburgh Worldwide Investment Trust EWI.L are standing down amid claims from the chairman that retail investors had been “ground down” by a group of American hedge funds seeking control of the trust’s shares in Elon Musk’s SpaceX.

Almost 4,000 more hospitality jobs are on the line after Whitbread WTB.L revealed it would shut the remainder of its restaurants as part of a reset of its five-year strategy.

The Guardian

The Bank of England has left interest rates unchanged at 3.75% but said the UK may need to brace for increases later this year, as “higher inflation is unavoidable” as a result of the war in the Middle East.

The Telegraph

Ineffable Intelligence, founded by former Google DeepMind executive David Silver, has raised a record 810 million pounds ($1.10 billion).

Sky News

British Airways pilots narrowly rejected the IAG-owned carrier's proposal to overhaul their pay. The proposals from the airline included a pay rise of up to 4%, but were coupled with cuts to pension contributions and a reduction in the hourly Flying Pay Supplement awarded to pilots.

The Finance & Leasing Association decided to not mount a legal appeal against the Financial Conduct Authority's motor finance mis-selling compensation scheme following a discussion with FCA chief Nikhil Rathi.

The Independent

U.S. President Donald Trump said he was lifting tariffs on whiskey from the United Kingdom, in a nod to King Charles on the final day of a royal visit celebrating a former colony's impending 250th anniversary of independence.

($1 = 0.7350 pounds)

 (Compiled by Bengaluru newsroom)

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