Claimants against Lehman Brothers’ main European arm will receive at least £5bn in interest payments on top of previously awarded claims after the UK’s most senior court ruled they should receive the statutory interest that has built up over the last eight years, Reuters reported. PwC, the administrator of Lehman Brothers International (Europe), has already paid out 100% of creditors' original £11.5bn in claims but had sought direction from the courts on which creditors should receive extra money that has built up since those claims were met.

Dominic Chappell, a former bankrupt who bought BHS for £1 and received millions of pounds while presiding over the retailer’s collapse, has lost a bid to keep his company afloat after a judge questioned the value of its recent investment in Portuguese property, the Financial Times reported. Administrators for BHS Group have been granted a winding-up order for Retail Acquisitions, a company owned by Mr Chappell, after it failed to keep up with repayments on a £6m loan it received from BHS shortly after buying the doomed chain from Sir Philip Green in 2015.

Tata Steel has agreed a settlement “in principle” to the long-running pensions saga at its UK business, a deal that could remove the last hurdle to a merger of the group’s European steelmaking operations with those of German rival ThyssenKrupp, the Financial Times reported. The £15bn British Steel Pension Scheme has been an increasing financial burden on Tata Steel UK, the country’s largest steelmaker, which its Indian parent acquired in 2007. The deal “in principle” would mean handing over £550m and a 33 per cent stake in the UK subsidiary to the retirement fund.

Britain's new relationship with the European Union is still a long way from being settled, but Brexit has started a process that is bound to hurt the City of London, a Bloomberg View reported. Earlier this month, the European Commission launched a review of the rules governing one of the City's lucrative lines of business -- the clearing of derivatives denominated in euros. The U.K. wants to keep it in London. The European Central Bank was skeptical about that even before Brexit.

The Co-operative Bank is poised to reveal in the coming days that it is a step closer to bolstering its balance sheet to meet the Bank of England’s capital requirements ahead of a looming deadline, the Financial Times reported. The lossmaking bank is preparing to announce that it is in advanced talks with existing hedge fund investors about injecting more capital, after stating in January that it will fall short of the regulatory threshold during the next few years.

BT has attempted to draw a line under its worst performance since the turn of decade with a restructuring of its scandal-hit international arm, the loss of 4,000 jobs and a warning over the size of its dividend next year, the Financial Times reported. But with an alleged accounting fraud still being investigated in Italy and questions over future free cash flow amid tighter regulatory scrutiny, Gavin Patterson was forced to put on a brave face following the toughest period since he took over as chief executive in 2013. “Let me be clear: this has been a challenging year.

Retail Acquisitions, the company owned by former bankrupt Dominic Chappell and through which he made his ill-fated 2015 purchase of BHS, is to be put into liquidation, more than a year after the department store chain fell into administration, the Financial Times reported. Insolvency proceedings were launched against Retail Acquisitions last October as part of a wider attempt to track the assets of the failed high street group, but had stalled amid appeals from Mr Chappell.

No one expects negotiations over Britain’s exit from the European Union to go smoothly over the next two years, but a German newspaper’s account of a dinner last Wednesday between the British prime minister, Theresa May, and senior European Union officials suggests that round one, at least, was particularly discordant, the International New York Times reported. On Sunday, the German newspaper, Frankfurter Allgemeine Sonntagszeitung, ran an article, clearly leaked by officials in the European Commission, that described a considerable gulf between Mrs.

The Bank of England faces a monetary policy dilemma as it prepares to mark 20 years of independence this week, the Financial Times reported. Should it respond to the unwelcome return of inflation with higher interest rates? Or should it worry about the latest evidence of a slowdown, by maintaining rates at the rock bottom 0.25 per cent rate? As the central bank prepares for its May interest-rate decision alongside the publication of quarterly forecasts, the signals from the Monetary Policy Committee are becoming increasingly hawkish.

British Prime Minister Theresa May pledged to protect workers against irresponsible practices over pensions on Sunday, promising new regulations on how schemes are handled during corporate takeovers. May's Conservative party will give regulators power to examine takeover proposals that threaten the solvency of a company pension scheme, and the regulator could be empowered to block takeovers if it is not satisfied with the arrangements, Reuters reported. May set out the policy ahead of an election June 8.