Good morning! Here’s what you need to know.
1. The chief executive of British lender TSB, Paul Pester, will not receive a bonus that he was due and which was linked to the bank’s botched computer system migration.A systems migration at TSB over the weekend of April 21-22 left up to 1.9 million customers unable to access their accounts.
2. Britain’s upper house voted to give parliament powers to stop any Brexit deal that may restore a hard border across the island of Ireland. It’s the latest defeat for Prime Minister Theresa May’s government.
3. SCL Group and its Cambridge Analytica consultancy are closing, the Wall Street Journal reported. The firms were at the center of this year’s Facebook privacy row.
4. The Federal Reserve held interest rates steady on Wednesday. The central bank expressed confidence that a recent rise in inflation to near the U.S. central bank’s 2% target would be sustained, leaving it on track to raise borrowing costs in June.
5. The Trump administration is considering executive action to restrict some Chinese companies’ ability to sell telecommunications equipment in the United States.The move was based on national security concerns.
6. Buyout firm Apollo Global Management has approached Xerox to express interest in a possible acquisition. Apollo’s interest in Xerox has been reinforced by the appointment this week of John Visentin as the company’s new CEO.
7. Aerospace suppliers are starting to explore blockchain technology to keep tabs on their supply chain.While blockchain is best known as the digital transactions technology that underpins cryptocurrency bitcoin, it can also be harnessed to track, record and transfer assets across all manner of industries.
8. Ukraine has decided to extend sanctions on Russian companies and entities to mirror those imposed by the United States. Ukrainian President Petro Poroshenko said: “With today’s decision, we have coordinated new sanctions … with those that have been introduced by the United States against citizens and legal entities of the Russian Federation.”
9. Goldman Sachs said more than 87% of shares were voted in favour of its executive pay at its annual shareholder meeting.Each of the bank’s 11 director nominees received the support of a majority of investors, they said.
10. US mortgage applications fell last week.Interest rates on some 30-year fixed-rate home loans reached their highest levels in more than four years.
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