Tata Steel has ditched its £15bn UK pension fund after receiving the green light from regulators, boosting the prospects of the Port Talbot steelworks. The company said it had received approval from the Pensions Regulator and that it had separated the British Steel Pension Scheme from its UK business. Tata had claimed that the retirement fund was a financial drag that threatened to pull the country’s largest steelmaker into insolvency, throwing thousands of jobs and a bedrock industry into doubt, the Financial Times reported.

Carillion, the struggling construction and outsourcing group, is shaking up its top team in an effort to turn itself round following a profit warning that left the company’s future in doubt, the Financial Times reported. Finance director Zafar Khan is stepping down under an agreement with Keith Cochrane, the former chief executive of Weir who agreed to temporarily run the company following a shock profit warning in July. Emma Mercer, the finance director of Carillion’s construction arm, will take Mr Khan’s place as CFO.

The U.K. has gained potential allies in its bid to hold on to the business of clearing euro-denominated derivatives after Brexit, Bloomberg News reported. Sweden said a European Union proposal to allow authorities to force the biggest foreign derivatives-clearing firms to set up shop in the bloc could prove excessive, according to a Sept. 4 document that summarizes the positions of 10 national governments. Spain highlighted the “considerable costs” a location policy would entail, and Ireland warned that it could leave firms scrambling to find clearing alternatives.

Staff at Bell Pottinger have been told that the scandal-hit PR firm is likely to go into administration early next week as attempts to find a buyer to salvage the company look to have failed, the Financial Times reported. According to two people with knowledge of the situation, the stark news was delivered to the company’s employees at its London headquarters on Thursday by chairman Mark Smith and a representative from accountants BDO.

Gold miner Avocet Mining Plc said on Monday it will consider filing for insolvency of its subsidiary Societe des Mines de Belahouro (SMB), which operates the Inata gold mine in Burkina Faso, after the unit’s standstill agreement with its creditors expired, Reuters reported. The boards of SMB and Avocet will meet on Sept. 8 to consider “all available options, including the potential filing of an insolvency petition by SMB”, Avocet said in a statement. SMB’s financial and trade creditors could not agree among themselves on an extension of the agreement, the company said.

As any builder or keen DIYer will tell you, there is a right time — and a wrong time — to attempt certain jobs. Fixing the roof is best attempted when the sun is shining, as one frequent sporter of the high vis was wont to remind us. Concrete is best mixed and poured in cooler conditions, as this columnist’s predecessor can attest (who knew?). And it seems HSS Hire — equipment supplier of choice to the latter, if not the former — is being reminded of this truism as it attempts to fix its own business model, the Financial Times reported.

We are barely a fortnight away from the 10th anniversary of Northern Rock’s dramatic collapse. At the beginning of 2007, the Newcastle-based lender was a darling — loved by investors for its aggressive expansion and by customers for its generous mortgages for 125 per cent of property value. But by mid-September, with funding running out and panicked queues outside branches, it was clear that Britain’s fastest-growing bank had fallen victim to a hubristic faith in the stability of the financial markets, the Financial Times reported.

Louisa Bell, a 75-year-old grandmother from one of Newcastle’s poorer areas, is a typical customer of Provident Financial: several thousand pounds in debt, she is confused by recent turmoil at the company and struggling to make ends meet. But since a profit warning from the UK’s biggest subprime lender sent its share price plummeting this week, the tables have turned and it is now the FTSE 100 group itself that faces worries about running out of money, the Financial Times reported. The crisis has been largely self-inflicted.

BHS creditors will receive £30m after Sir Philip Green’s retail empire Arcadia relinquished a claim on the assets of the department store chain whose collapse culminated in thousands of job losses and the billionaire paying £363m to cover the pensions of former workers, the Financial Times reported. The deal with BHS liquidators FRP Advisory ends the prospect of a legal battle surrounding a secured loan that the collapsed chain owed to Sir Phillip’s Arcadia Group, people briefed on the situation said.

Royal Bank of Scotland Group Plc settled a lawsuit filed by the owner of a bankrupt student- housing company that claimed the bank had sold him hedging products linked to Libor while at the same time trying to rig the interest-rate benchmark, Bloomberg News reported. Stuart Wall, owner of Opal Property Group Ltd., alleged that RBS mis-sold the group an interest-rate swap, which contributed to the collapse of the business in 2013. While terms of the settlement weren’t disclosed, the four-year-old claim had been valued at as much as 669 million pounds ($856 million).