Transport for London (TfL) has recorded a £100m plunge in advertising revenue across its network of tube stations, trains and buses after Covid-19 pandemic restrictions kept commuters away from travelling to work. TfL’s advertising estate – which comprises more than 100,000 billboards, posters and panels throughout the capital’s tube and rail network, in trains and on buses and shelters – is one of the largest and most valuable in the world. – Guardian
Taylor Wimpey, one of the UK’s biggest housebuilders, opposed government plans to slash carbon dioxide emissions from new homes by at least three-quarters and argued against heat pumps, which are proposed as a replacement for gas boilers, one of the UK’s biggest causes of greenhouse gases. The company, which typically builds about 15,000 new homes a year, told a consultation that a target of cutting CO2 emissions from new homes by 75% to 80% from 2025 was “too high” and argued that heat pumps would be too expensive and would disappoint customers with their performance. – Guardian
Sainsbury’s is launching a fresh round of price cuts in the latest onslaught against its rivals as supermarkets battle it out to win customers. Britain’s second-biggest grocery chain will reduce the cost of 60 staples across fruit, vegetables, meat and dairy by the end of the month by investing £50m. Britain’s Big Four supermarkets are fighting German rivals, which continue to undercut their prices and poach customers. – Telegraph
A group of Bridgepoint employees and former staff pocketed nearly half a billion pounds two years ago after the private equity firm’s funds recorded a bumper profit. The large award came from a scheme that allows Bridgepoint workers, from investment managers to junior colleagues, to invest their own money in funds managed by the firm. – The Times
Banks and insurers are warning that proposals to introduce stronger consumer protection rules may stop innovation and lead to a deluge of litigation from claims management companies. Concerns are so grave about the “consumer duty” that some senior executives have complained to Treasury officials and are privately warning that they would consider bringing a judicial review to challenge the regulator. – The Times
