News round up: BT, Yahoo!, Amazon, Office of Fair Trading, Smiths Group, Partnership Assurance, City bonuses, British Chambers of Commerce and Consumer confidence.
BT Group plc (NYSE:BT) has dumped Yahoo! Inc. (NASDAQ:YHOO) as email provider to its six million broadband customers following months of customer complaints over hacking. It is to shift all customers to a new system from next month after a decade on Yahoo!.
BT customers who use the Yahoo! service have complained since February that hackers are repeatedly taking control of accounts and using them to pump out spam emails, the Telegraph writes.
According to The Guardian, US internet retailer Amazon is to open a new office in London for 1,600 staff next year, moving hundreds of employees from its base in Slough and creating hundreds more of new jobs.
Office of Fair Trading
The Public Accounts Committee has lambasted the Office of Fair Trading for failing to hand out fines to those in the payday loans industry and allowing "disgraceful" practices to take place, writes The Times.
Engineering giant Smiths Group is in talks to sell its medical unit for at least two billion pounds, according to the Financial Times which cited people close to the matter. The discussions come after an approach by potential buyers including US healthcare group CareFusion.
Financial Times says that annuities business Partnership Assurance is awarding two of its executive directors a joint remuneration package of up to £4.6m if they hit targets ahead of the firm's stock-market flotation. The company is thought to be valued at £1.6bn.
14% fewer City professionals received any kind of bonus in the past year, according to The Independent which says that "the City fat-cat culture is being reined in". 82% of people were awarded a bonus in 2011-12 but this slipped to just 68% last year.
British Chambers of Commerce
The British Chambers of Commerce has said that George Osborne must use next month's spending review to commit to major capital investment, reports The Scotsman. The BCC said that the UK was "performing below its potential".
The Guardian cites the monthly GfK index which showed that the consumer confidence index in the UK rose five points to -22 in May as triple-dip recession fears eased.