British Airways owner IAG has acquired valuable take-off and landing slots at London’s Gatwick airport from failed carrier Monarch Airlines, the latter’s administrators said on Monday, beating off competition from other airlines. The administrators said they were in the process of completing an exchange of Monarch’s slots for others currently held by IAG but did not disclose how much IAG was paying under the swap arrangement to get the more valuable slot times, Reuters reported.

Travel firm Thomas Cook has bid for failed rival Monarch Airlines’ landing and take-off slots at London Gatwick airport, two sources close to discussions said, after Monarch’s administrator secured rights to sell the slots, Reuters reported. Earlier this week the administrator won an appeal against a previous London High Court court ruling that Monarch had lost any rights over the potentially valuable slots since it was no longer capable of operating any flights.

The planned move of the European Banking Authority’s headquarters from London to Paris will reduce the UK’s influence over the rules governing European finance, experts said on Tuesday. EU foreign ministers meeting in Brussels on Monday voted for the EBA to shift its headquarters from London to Paris after Brexit, the Financial Times reported. The EBA is responsible for writing standards that EU banks should abide by — how to calculate potential losses on risky loans, for example — as well as carrying out stress tests on them to safeguard the financial system.

Carillion Plc lost a third of its market value after saying it’s in danger of breaching debt covenants, as the U.K. builder that only three years ago was trying to buy a rival now struggles for survival, Bloomberg News reported. The Wolverhampton-based construction company issued its third profit warning in half a year on Friday and said it’s in talks with creditors about “some form of recapitalization” in the first quarter of next year. Delays in projects and disposals will lead 2017 profits to be lower than expected, it said. Carillion’s spiral downwards has been swift.

Redx Pharma has returned to the land of the living. Last week, shares in the biotech group were reinstated on London’s junior market after its administrators packed their bags and quit Redx’s offices in Alderley Edge, the Financial Times reported. Hoorah. Not quite. The shares were 32p when they were frozen in May; when Aim lifted the suspension last week, they fell to 19p. That said, not many companies return from the netherworld of insolvency once the wind-up merchants take charge.

Monarch does not have the right to sell its airport takeoff and landing slots, potentially the most valuable remaining part of the failed airline, a court in London ruled on Wednesday, Reuters reported. In a blow to administrators seeking to recoup money, the High Court rejected Monarch’s claim that it must be allocated slots for summer 2018 and said they will be placed into a pool. “We are disappointed with today’s ruling and will be seeking leave to appeal as a matter of urgency,” Blair Nimmo, partner at KPMG and joint administrator of Monarch, said.

The private equity owner of Four Seasons, Britain’s largest care home operator, has proposed relinquishing control of the debt-laden company to its creditors for a “nominal sum”, having incurred £450m in losses, the Financial Times reported. Terra Firma’s move comes after the main creditors, H/2 Capital, suggested a debt-restructuring plan aimed at rescuing the struggling business. Under the US hedge fund’s proposition, Terra Firma would have kept an 11 per cent stake in the full business.

The largest creditor in Four Seasons, the UK’s largest care provider, has rejected a proposed restructuring plan of its multi-million pound debt, leading to a bruising fight with its private-equity owner, the Financial Times reported. H/2 Capital has launched proposals that it argues create a business less heavily dependent on debt and does more to improve the care-home business. Four Seasons provides care to 17,000 people, and it has publicly said it will default on its debt next month, having failed to reach a deal with bondholders.

The Bank of England has increased interest rates for the first time since 2007, despite fears for the fragility of the UK economy as its 2019 departure from the European Union nears, the Irish Times reported. Policymakers on the bank’s Monetary Policy Committee (MPC) opted to increase interest rates to 0.5 per cent, up a quarter of a point, by a majority of seven to two.

Danske Bank in Northern Ireland has reported a pre-tax profit of £77.4 million (€88.1 million) for the first nine months of 2017. The latest financial results show a £20 million year on year fall in pre-tax profits - over the corresponding period in 2016 Danske Bank’s profits had previously hit £98.1 million, the Irish Times reported. The Copenhagen headquartered bank has blamed the “adverse impact” of the Bank of England’s base rate on its income levels as well has higher expenses from a restructuring programme.