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BUSINESS LIVE: Big firms underpay £35.8bn in tax

RUTH SUNDERLAND: I am not starry-eyed about mutuals nor am I blind to the many shortcomings

It matters now more than ever that ordinary people have access to finance on fair terms, a voice in what happens to their own money and access to information to make choices. These were the values at the core of the mutual movement and they are as important now as in the 19th century.

Business groups call on Government for support amid Omicron variant

Business groups have called on the Government to spend more on research and make it easier for manufacturers to access funding after the emergence of the Omicron variant.

The Confederation of British Industry (CBI) said research and development spending could help life sciences and green technology thrive. It added that normalising relations with the EU could aid exports at a time when the prospects for foreign trade increasing are 'lacklustre'.

Ted Baker chairman dies suddenly

Ted Baker chairman John Barton had died, the British fashion chain announced on Monday.

Senior independent director Helena Feltham will take on the role of interim chairman with immediate effect.

Feltham said: ‘John was a source of great wisdom for me and for so many of us at Ted Baker and we will hugely miss his support and guidance. Our thoughts and deepest sympathies are with his wife, Anne, and their family’

Big companies underpaid £35.8bn in tax last year

Multinationals use several methods to artificially lower their UK tax bill, such as classifying some employees as self-employed contractors. They also use transfer pricing – shifting costs and income across countries.

Base erosion – shifting profits from UK sales to lower-tax countries – is also employed.

Ministers standing by to intervene in any attempted takeover of BT

French telecoms tycoon Patrick Drahi is reportedly plotting to double his 12.1 per cent stake in the group.

A lockup period in which he has not been able to buy more shares comes to an end on Saturday and he could make a full-blown offer.

Life sciences group behind treatment to kill Covid with laser light IPOs in London

Ondine Biomedical will join the junior market in a £104m float. It hopes to raise around £23m to help roll out its first product.

This is a treatment that destroys viruses – including Covid – bacteria, yeasts and fungi within minutes.