Britain's competition authority said on Wednesday that it was launching enforcement action against Ryanair and British Airways over their failure to offer refunds to passengers who were barred from taking flights under lockdown rules, Reuters reported. During COVID-19 lockdowns across Britain, instead of offering refunds to those legally unable to fly, IAG-owned British Airways (ICAG.L) offered vouchers or rebooking and Ryanair providing the option to rebook.

A Conservative Party row over cuts to U.K. foreign aid spending is a warning of bigger challenges to come for Chancellor of the Exchequer Rishi Sunak, as he tries to repair public finances battered by the pandemic, Bloomberg News reported. Privately, officials acknowledge the government has its hands full in Parliament despite holding a significant majority, because a group of MPs in Boris Johnson’s ruling party have repeatedly shown their willingness to rebel. That’s proved especially problematic on foreign aid, which is legally mandated at 0.7% of gross domestic product.

The U.K.’s chief negotiator called on the European Union to show “pragmatism and common sense,” instead of threatening to retaliate, as the two sides meet to resolve differences over the deal that was supposed to keep trade flowing after Brexit, the Associated Press reported. David Frost made the comments after his EU counterpart said the bloc was ready to act “firmly and resolutely” if the U.K. fails to honor its commitments under the divorce agreement.

Britain has clinched post-Brexit trade agreements with Norway, Iceland and Liechtenstein as it seeks to forge new global trading relationships after leaving the European Union, Reuters reported. The three nations, which are part of the European Economic Area allowing them access to the single market, have relied on temporary trade arrangements with Britain since the end of a Brexit transition period on Dec. 31.

Amigo has fuelled fears among investors that it will fall into insolvency by saying it will not challenge a High Court decision to block its plan to cut compensation payments to customers who were mis-sold loans, the London Times reported. Shares in the guarantor lender fell by as much as 15.6 per cent yesterday after it said that it had decided against pursuing an appeal against last week’s judgment from Mr Justice Miles.

Amigo Holdings Plc said on Tuesday that it was looking at filing for insolvency after a court last week rejected a rescue plan for the subprime lender, Reuters reported. London's High Court rejected the plan, which would have cut compensation payouts to customers for mis-selling loans, sending the company's shares plunging more than 50%. In a statement, Amigo said it would not appeal the ruling. It anticipates delaying its financial results for the year ended March, it added.

Taylor Wimpey Plc is covering repair costs for a defective London housing block that are in addition to provisions it’s made for potentially unsafe legacy developments in the wake of the U.K. cladding scandal, Bloomberg News reported. The housebuilder is addressing fire-safety issues and other problems following persistent complaints that the development has been faulty since it was built.

The U.S. Department of Justice is investigating the market-rattling meltdown of Bill Hwang’s Archegos Capital Management in March, a debacle that left big banks in Europe, Asia and the U.S. nursing more than $10 billion in losses, Bloomberg News reported. Federal prosecutors in Manhattan sent requests for information to at least some of the banks that dealt with the firm. It’s unclear what potential violations or entities authorities are examining.

GFG Alliance is putting seven of its U.K. plants up for sale as it seeks to reach an agreement with Credit Suisse Group AG to stave off insolvencies of some of its units, Bloomberg News reported. Owner Sanjeev Gupta made “significant progress” in weekend talks with the Swiss lender’s asset-management arm to resolve GFG’s exposure with Credit Suisse, the metals group said in an emailed statement Monday. GFG has been seeking to raise new financing to replace some of the $5 billion of loans provided by Greensill Capital since the London-based financial firm collapsed in March.

The British government confirmed plans to charge EU citizens and other foreign nationals to visit, as part of a wider reform aimed at making the border more secure, Politico reported. Home Secretary Priti Patel said on Monday that her department will pass legislation to introduce a new Electronic Travel Authorisation (ETA) that she argued will help the government track with more accuracy the number of people entering and leaving the U.K. It will apply to visitors without a visa or immigration status, except British and Irish citizens.