Britain's accounting regulator said on Monday it has opened investigations into the audits of Greensill Capital and Wyelands Bank as regulatory scrutiny of the companies intensifies, Reuters reported. Wyelands Bank is owned by steel tycoon Sanjeev Gupta's metals-to-finance empire GFG Alliance, which it financed. GFG Alliance was closely linked to financing company Greensill Capital which went bust earlier this year.

The company behind Amigo Loans has been given an extra three-month lifeline from its lender as the business tries to stave off collapse, Yahoo.com reported. The guarantor lender said that its bank had extended the grace period it had given Amigo to September 24. The waiver was set to run out on Friday. During this period the bank will not take action if Amigo breaks the conditions attached to the so-called securitisation facility. The amount available to Amigo through the facility was also slashed to £100 million from £250 million.

Britain said Thursday that it intends to relax pandemic travel restrictions by allowing people who are fully vaccinated to visit a wide range of countries without having to self-isolate on their return, the Associated Press reported. The Department for Transport said that it expects to implement the new policy in phases later this summer. The change would apply to fully vaccinated people traveling to destinations on the government’s “amber” list, which currently covers much of the world, including the U.S. and most of the European Union.

Billionaire steel magnate Lakshmi Mittal’s younger brother Pramod Mittal was due to be automatically freed from bankruptcy in Britain on Wednesday but has had his bankruptcy suddenly extended by the London high court for failing to cooperate with the bankruptcy trustee.

HM Revenue and Customs will take a "cautious approach" in enforcing debt collections from businesses struggling financially due to the Covid-19 pandemic, the UK Government has said, Irish News reported. UK Business Secretary Kwasi Kwarteng in a letter to the Institute of Directors and insolvency specialists R3 said enforcement by the taxman will be based on whether a company has been engaging with HMRC, rather than due to its inability to pay.

Britain’s economic recovery is continuing apace and inflation is now expected to climb even higher than previously predicted, but the Bank of England’s policymakers on Thursday stood firm and saw little need to scale back their large monetary stimulus program, the New York Times reported. That is, all but one. In his final meeting, Andy Haldane, the central bank’s chief economist, cast the lone dissenting vote, arguing that the bank should pare back its bond-buying program because of the improved economic outlook and rising price pressures.

The U.K. government has told business leaders it will take a "cautious approach" to firms that owe it money in the wake of the coronavirus pandemic, the BBC News reported. The message came in a letter from Business Secretary Kwasi Kwarteng to the Institute of Directors and R3, which represents insolvency firms. In the letter, first reported by the Financial Times, he said enforcing insolvency would remain a last resort. The government has spent billions protecting the economy from Covid.

Parliament should consider toughening up the rules on who can take control of a bank in light of what happened to Wyelands Bank following the collapse of Greensill Capital, Bank of England Deputy Governor Sam Woods said on Wednesday, Reuters reported. Steel tycoon Sanjeev Gupta's metals-to-finance empire GFG Alliance took control of Wyelands Bank in 2016. Wyelands financed GFG Alliance that was closely linked to financing company Greensill Capital, which went bust earlier this year. Concerns emerged in 2018 over the way Wyelands was lending to GFG, Woods said.

British pilots, cabin crew, travel agents and other workers are urging politicians to save the summer holiday season by reopening routes abroad or risk destroying tens of thousands of jobs as companies fail, Reuters reported. Workers from the travel industry demonstrated across Britain on Wednesday. Protesters outside parliament held banners saying "Speak up for travel" as pilots and air stewardesses from British Airways, easyJet and Virgin Atlantic lined up in full uniform, to highlight the threat to their jobs from the government's strict rules.