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Deutsche Bank 'considers moving operations from UK'

Credit: Reuters

Deutsche Bank will consider whether it should relocate some of its UK operation to mainland Europe if Britain decides to leave the EU, according to reports.

The German lender, which employs about 8,000 people in the UK, has established a working group to assess the consequences of a possible "Brexit" following an in/out referendum, which David Cameron has pledged to hold by 2017.

The Financial Times said it was the first financial giant to formally review its position and it will consider whether to move some parts of the business back to Germany

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Five year plan to cut £10bn from business red tape

At least £10 billion is to be cut from business red tape over the next five years, the Conservatives are to announce.

New Business Secretary Sajid Javid said an Enterprise Bill will be included in next week's Queen's Speech, aimed at helping to create two million jobs.

In a visit today to Bristol, where he grew up above his parent's shop, Mr Javid is expected to say:

Small businesses are Britain's engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them.

We will sweep away burdensome red tape, get heavy handed regulators off firms' backs and create a Small Business Conciliation Service to help resolve disputes.

– Sajid Javid

Honda recalls another 4.8m cars over airbag fears

Honda has announced it recalling another 4.8 million cars to replace potentially fatal air bags.

Honda has announced it recalling another 4.8 million cars to replace potentially fatal air bag inflators Credit: PA

The global recall comes a day after Toyota Motor Corp and Nissan Motor Co announced they were recalling 6.5 million vehicles worldwide.

All three firms used airbags by Japanese company Takata Corp, which investigations showed were not properly sealed and could be damaged by moisture.

The airbags can erupt with too much force, spraying shrapnel inside the car.

Six deaths have so far been linked to the defective air bags, all on cars made by Honda.

Today's recall brings Honda's total number of recalls to 19.6 million vehicles.

More: Tens of thousands of Japanese cars recalled over 'faulty' airbags

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Whistl suspends deliveries after equity backer pulls out

whistl Posties' Scott Young and Holly Judd on their way to a delivery in the City of London Credit: PA

Postal delivery firm Whistl has suspended deliveries after a private equity backer LDC pulled out of funding to help expand the business, the company has announced.

Whistl employs around 2,000 people on its postal delivery services in London, Liverpool and Manchester and was planning on rolling out 'end to end' elsewhere, in direct competition with Royal Mail

A company statement said:

Following the announcement from LDC that it would not proceed with the proposed investment to fund further rollout of e2e, we have now commenced an extensive review of the viability and potential for the rollout of an e2e postal delivery service in the UK

To stem the losses from the operations we have taken the difficult decision to suspend the current e2e service during the review process and all mail will now be delivered through our long-standing downstream access service until we have concluded the review."

– Whistl statment

Business leaders urge David Cameron to 'be ambitious'

A leading independent employers' organisation has called for the Prime Minister to be "ambitious with business".

The CBI called for action within the first 100 days Credit: PA

The Confederation of British Industry urged the new Government to set out clear plans for the country's economic growth and to take action within the first 100 days.

It said that business will take an active role in "arguing the case for the UK to remain inside a reformed EU" and argued that it is "vital" for the Government to set the bar for that EU reform at an "ambitious and achievable" level.

The new Government must get into its stride quickly. It should set out clear plans for the next parliament within the first 100 days, and have a laser-like focus on delivery.

The Prime Minister should prioritise building on the progress made to get the deficit down, finding more innovative ways to deliver public services and backing the final decision from the Airports Commission so we get diggers in the ground by 2020.

– CBI deputy director general Katja Hall
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